Sign Up Successful!
You now have access to more from Realmo!
    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

    2207 E Morris Blvd Morristown, TN 37813

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $469,000

    Former gas station site ready for redevelopment in growing area.

    Lot size:
    0.55 Acres

    Property Features for 2207 E Morris Blvd

    General Information

    Lot size
    0.55 Acres

    We can help!

    Listing Contact
    Leslie Jo Deaderick
    Leslie Jo Deaderick
    Source: Moodyscre

    Listing Agent: Leslie Jo Deaderick

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Redevelopment Opportunity in Morristown, TN

    This is a redevelopment site with potential, formerly operating as a Shell gas station. All underground storage tanks have been removed. The property is located on a heavily trafficked thoroughfare, ensuring visibility and customer access. Morristown is experiencing commercial development, enhancing the long-term value of this property. The site benefits from proximity to College Square Mall and a new Arby's location. Existing access points are in place, streamlining development and traffic flow. Given the location and high traffic, this site is suited for a fast-food restaurant, retail strip center, medical or professional offices, automotive services (non-fuel), or a coffee shop with drive-thru. The deed for this property will include a restriction prohibiting the sale of tobacco products or accessories. Acreage adjacent is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.267092
    Latitude
    36.220913

    Nearby Similar for Sale

    • New
      $624,900
      2,682 SF

      Tennessee Land with Two Homes

      31+ acres with two homes near Morristown, Tennessee.
      2840-2830 Robinson Creek Rd, Morristown, TN 37813
      View Details
    • New
      $624,900
      2,682 SF

      Tennessee Land with Two Homes

      31+ acres with two homes near Morristown, Tennessee.
      2840-2830 Robinson Creek Rd, Morristown, TN 37813
      View Details
    • New
      $624,900
      31.66 Acres

      Tennessee Farm with Two Homes

      31+ acre farm featuring two homes and mountain views.
      2840-2830 Robinson Creek Rd, Morristown, TN 37813
      View Details
    • $849,900
      0.25 Acres

      Professional Office Building in Morristown

      Exquisite office building in downtown Morristown, suitable for various businesses.
      400 W 1 St N, Morristown, TN 37814
      View Details
    • New
      $624,900
      1,758 SF

      31 Acres with Two Homes

      Pastureland with mountain views, two homes, and flowing creek.
      2840-2830 Robinson Creek Rd, Morristown, TN 37813
      View Details
    • $299,900
      0.38 Acres

      Morristown Duplex: Investment Opportunity

      Well-located duplex in Morristown, TN, ideal for investors or owner-occupants.
      730 N Haun Dr, Morristown, TN 37814
      View Details
    • $499,000
      0.33 Acres

      Morristown Office Building For Sale

      Well-maintained office building in the heart of Morristown, Tennessee.
      217 Western Ave, Morristown, TN 37814
      View Details
    • $399,900
      0.27 Acres

      Morristown Office Building For Sale

      Office building in West Morristown, currently leased, excellent investment.
      442 E Economy Rd, Morristown, TN 37814
      View Details
    • $310,000
      0.26 Acres

      Turnkey Commercial Space in Morristown

      Equipped commercial space suitable for various business ventures.
      316 Beech St, Morristown, TN 37813
      View Details
    • $268,000
      0.87 Acres

      Morristown Duplex with Income Potential

      Duplex near downtown Morristown, TN, with income potential.
      1987 Joe Stephens Rd, Morristown, TN 37814
      View Details
    • New
      $399,900
      Pending

      Morristown Brick Duplex Investment Property

      Well-maintained duplex in the heart of Morristown, Tennessee.
      510 S Liberty Hill Rd, Morristown, TN 37813
      View Details
    • $399,900
      0.45 Acres

      Downtown Morristown Adaptable Commercial Property

      Versatile commercial property in downtown Morristown, suitable for various businesses.
      503 N Jackson St, Morristown, TN 37814
      View Details

    FAQs

    What type of property is this?
    Commercial land - Former gas station site ready for redevelopment in growing area.
    Where is this commercial land located?
    The property is located at 2207 E Morris Blvd Morristown, TN.
    What is the asking price?
    The asking price for this property is $469,000.
    What are key features of this property?
    This property features: - High Traffic Count: Located on a heavily trafficked road, providing excellent visibility and customer access.; - Underground Storage Tanks (USTs) Removed: Eliminates a significant environmental hurdle and accelerates redevelopment.; - Growing Commercial Area: Morristown is experiencing continued commercial development, enhancing long-term value.
    (423) 581-8881
    Request Owner's contact information
    2207 E Morris Blvd Morristown, TN 37813
    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.
    2207 E Morris Blvd
    Morristown, TN 37813
    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
    2207 E Morris Blvd Morristown, TN 37813
    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
    Leslie Jo Deaderick
    Leslie Jo Deaderick
    Real Estate License ID: 336679
    (423) 581-8881
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.