Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Willis Cove Rd Erwin, TN 37650

    View on Map
    Sponsored
    For Sale
    $225,000

    LAND - Erwin, TN

    Lot size:
    18.30 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 11 at 1:06 am

    Property Features for Willis Cove Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Agriculture
    APN
    056 010.00
    Lot size
    18.30 Acres

    We can help!

    Listing Contact
    Scott Metcalf

    RE/MAX Checkmate Realtors Inc. (423) 282-0432

    Listing agent Scott Metcalf (423) 741-1366 License #300248

    Listing date Mar 9, 2026

    MLS# 9992112

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Pastureland with Mountain Stream Frontage

    This 18.3-acre property in Erwin, TN, presents a rare opportunity to own pastureland featuring approximately 1,000 feet of frontage along Spivey Creek, as well as frontage on Willis Cove Road. The property, located in South Unicoi County, includes a bold mountain stream. Electricity is already on site. A septic system is believed to have been installed, but this has not been confirmed. The property is zoned for agriculture and offers potential for building a dream home overlooking the creek, creating a private getaway, or developing a Creekside campground. The tract combines usable land, water frontage, and existing infrastructure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Erwin
    County
    Unicoi
    State
    Tennessee
    Longitude
    -82.493737
    Latitude
    36.038625

    Nearby Similar for Sale

    • $450,000
      3,200 SF

      Turnkey Automotive Shop in Erwin

      Well-equipped auto shop on 0.72 acres, ready for operation.
      1040 Martin Creek Rd, Erwin, TN 37650
      View Details
    • $399,000
      5,893 SF

      Erwin Commercial Property For Sale

      Versatile commercial property in revitalized downtown Erwin, Tennessee.
      218 Gay St, Erwin, TN 37650
      View Details
    • $1,100,000
      2,686 SF

      Restaurant Property in Erwin, TN

      Commercial property with restaurant and drive-through potential in Erwin.
      1502 N Main Ave, Erwin, TN 37650
      View Details
    • $365,000
      3,151 SF

      Historic Mixed-Use Building, Erwin

      Historic building in downtown Erwin with commercial and residential potential.
      205 Union St, Erwin, TN 37650
      View Details
    • $1,475,000
      3,000 SF

      Turnkey Glamping and Wedding Venue

      12.9-acre glamping and wedding venue near National Forest.
      2394 Spivey Mountain Rd, Erwin, TN 37650
      View Details
    • $3,950,000
      Pending

      Liberty Estates Apartments in Erwin

      45-unit multifamily property near Johnson City and ETSU.
      80 Jones Rd, Erwin, TN 37650
      View Details
    • $110,000
      2,200 SF

      Versatile Garage Space in Erwin

      Commercial opportunity in Erwin, ideal for automotive or storage.
      707 Watauga Ave, Erwin, TN 37650
      View Details
    • $1,100,000
      2,686 SF

      Restaurant Property with Drive-Through Potential

      Commercial property with restaurant, drive-through, and outdoor seating.
      1502 N Main Ave, Erwin, TN 37650
      View Details
    • $365,000

      Historic Building in Downtown Erwin

      Historic brick building with commercial and residential potential.
      205 Union St, Erwin, TN 37650
      View Details
    • $325,000
      1.10 Acres

      Prime Erwin Commercial Land

      1.1 Acres, Two Homes, High Growth Area
      1110 Elm Ave, Erwin, TN 37650
      View Details
    • $405,000
      2,054 SF

      Well-Maintained Duplex with Upside Potential

      Well-maintained duplex with long-term tenants and significant rent growth potential.
      Erwin, TN 37650
      View Details
    • $495,000
      18,736 SF

      Downtown Erwin Commercial Gem

      Historic building, versatile spaces, prime location.
      229 Main Ave, Erwin, TN 37650
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 18.3 acres of pastureland with creek frontage in Erwin, TN.
    Where is this agricultural land / farmland located?
    The property is located at Willis Cove Rd Erwin, 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: - Approximately 1,000 feet of frontage on Spivey Creek.; - Easily accessible pastureland in South Unicoi County.; - Electricity is already on site.
    (423) 741-1366
    Request Owner's contact information
    Willis Cove Rd Erwin, TN 37650
    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.
    Willis Cove Rd
    Erwin, TN 37650
    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
    Willis Cove Rd Erwin, TN 37650
    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

    We can help!
    Listing Contact
    Scott Metcalf
    Real Estate License ID: 300248
    (423) 741-1366 (423) 282-0432
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!