Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land with Lake and Mountain Views Title is generated by Realmo AI

    Sommet Ridge E lot 3, Tazewell, TN 37879

    View on Map
    Claim this Listing
    For Sale
    $225,000

    LAND - Tazewell, TN

    Lot size:
    0.27 Acres
    Added:
    Aug 21, 2025
    Days on Market:
    271
    Last Refresh:
    May 18 at 4:06 pm

    Property Features for Sommet Ridge E lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.27 Acres

    We can help!

    Listing Contact
    Dylan Martin

    Listing agent Dylan Martin

    Listing office Realty Executives Associates 124 N Winston Road, Knoxville, TN

    Listing date Aug 21, 2025

    MLS# 1312876 Listing URL

    Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Premier lakefront development on Norris Lake featuring over 3 miles of pristine waterfront with breathtaking water and mountain views.
    • Enjoy resort‑style amenities, including a dedicated marina with available boat slips, fine dining, resort‑style pool, fitness center, spa, and athletic courts.
    • Exclusive community with gated entries, underground utilities, and established high‑end builders ensuring a refined neighborhood.
    • Turnkey floor plans available to simplify the building process and maximize lot potential.
    • Convenient location near Knoxville airport (1hr 15 mins) and New Tazewell Municipal Airport (5 mins).
    • Opportunity to join the exclusive Founders Program with multiple incentives.

    Overview

    Located in Tennessee Vues at Norris Lake, this 0.27-acre homesite is part of a master-planned development offering elevated homesites on one of Tennessee's lakes. The property features water and mountain views, resort-style amenities, and over 3 miles of waterfront. The Sommet Ridge homesites capture lake and mountain vistas. Residents have access to a dedicated marina with available boat slips, fine dining, a resort-style pool, a fitness center, a spa, athletic courts, and walking trails. Additional amenities include the Hilton Curio Lodge and exclusive golf membership opportunities. The development features gated entries and underground utilities. Turnkey floor plans are available. Located near the Knoxville airport (1hr 15 mins away) and the New Tazewell Municipal Airport (5 mins away), Tennessee Vues offers convenience, natural beauty, and lake living. This property is suitable for a year-round residence or a seasonal retreat.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Tazewell
    County
    Claiborne
    State
    Tennessee
    Longitude
    -83.5139
    Latitude
    36.4708

    Nearby Similar for Sale

    • $339,900

      Tazewell Land with Mountain Views

      70+ acres in Tazewell, TN with multiple building sites.
      407 Earl Maples Lane, Tazewell, TN 37879
      View Details
    • $50,000

      Land in Woodlake Golf Community

      Two lots in golf community with lake access near Knoxville.
      Wedge Way, Tazewell, TN 37879
      View Details
    • $25,000

      Wooded Lot in Golf Community

      0.49-acre lot in Woodlake Golf Community, ready to build.
      Wedge Way lot: 206, Tazewell, TN 37879
      View Details
    • $699,900
      1,021 SF

      Tazewell Commercial Parcels For Sale

      Five commercial parcels with buildings and warehouse potential in Tazewell.
      1805 N Broad Street, Tazewell, TN 37879
      View Details
    • $396,000

      Furnished Cabins with Mountain Views

      Three furnished cabins on 15 acres with mountain views.
      1563 Raven Hill Road, Tazewell, TN 37879
      View Details
    • $90,000

      Unrestricted Land Near Norris Lake

      4.239 acres ready for your dream vacation home.
      LOT 79 & 80 Marina Landing Rd, Tazewell, TN 37879
      View Details
    • $3,545,100
      3,200 SF

      Expansive Hancock County Riverfront Farm

      685-acre farm with 5.25 miles of Powell River frontage.
      2114 Powell River Rd, Tazewell, TN 37879
      View Details
    • $124,900

      Tazewell, TN Hunting Cabin Retreat

      5-acre hunting cabin retreat with creek and electric service.
      324 Vannoy Rd, Tazewell, TN 37879
      View Details
    • $90,000

      Tazewell, TN Wooded Land

      1.8 acres of wooded land overlooking the town.
      N BROAD St, Tazewell, TN 37879
      View Details
    • $965,000

      Tazewell, TN Development Land

      9.9 acres on Highway 25E, ready for development.
      307 OLD KENTUCKY Rd, Tazewell, TN 37879
      View Details
    • $299,000

      Tazewell, TN Land For Sale

      42.5 acres of unrestricted land near Clinch River.
      S Highway 25E, Tazewell, TN 37879
      View Details
    • $160,000

      Tazewell Land with Lake View

      11.21 acres with lake views, utilities, and recreational opportunities.
      LOTS 101, 102 Marina Landing Rd, Tazewell, TN 37879
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Homesite in master-planned community with resort-style amenities and lake access.
    Where is this residential land & home lot located?
    The property is located at Sommet Ridge E lot 3 Tazewell, TN.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Premier lakefront development on Norris Lake featuring over 3 miles of pristine waterfront with breathtaking water and mountain views.; Enjoy resort‑style amenities, including a dedicated marina with available boat slips, fine dining, resort‑style pool, fitness center, spa, and athletic courts.; Exclusive community with gated entries, underground utilities, and established high‑end builders ensuring a refined neighborhood.
    (865) 924-6193
    We can help!
    Listing Contact
    Dylan Martin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Sommet Ridge E lot: 3, Tazewell, TN 37879
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!