Building Details

Year built 1998

Building materials Vinyl Siding

Roof type Shingle

Listing Agency: REMAX Real Estate Ten of Morristown Show Phone

Listed By: Ashley Hunt · License #369356 Show Phone

Added: May 15 Changed: Oct 2 Last Checked: Oct 7 at 11:06PM

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MLS# 9995448

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.

Investment Insights

Based on property information with market context.

This 3,000-square-foot duplex-style property sits on 0.5 acres along the lakefront and is configured for separate occupancy. The upper level contains 3 bedrooms and 2 full bathrooms and is currently vacant. The lower level provides 5 additional rooms, a large gathering area, and a full bathroom; it is leased month-to-month. Two carports and a partial foundation are also included. Built in 1998, the property has vinyl siding, a shingle roof, central heating and central air, public water, and a septic tank.

The property is located in Bean Station, near shopping, downtown, and the hospital. Commercial zoning is supported by the property information, while the existing layout accommodates residential income use. The separate levels provide flexibility for continued leasing or combined owner occupancy and rental use.

Key Highlights

• Lakefront 0.5‑acre property with 3,000 square feet
• Upper level includes 3 bedrooms and 2 full bathrooms
• Lower level has 5 rooms, a large gathering area, and a full bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,257

Cap Rate

5.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$585,140 $585.1K

Cap Rate 7%

$417,957 $418.0K

Cap Rate 9%

$325,078 $325.1K

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$45.0K $15.00/SF

− Vacancy

−$3.2K −$1.07/SF

EGI

$41.8K $13.93/SF

− OpEx

−$12.5K −$4.18/SF

NOI

$29.3K $9.75/SF

Area

Grainger County, TN

Vacancy

7.12%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$585,140

Cap Rate 7%

$417,957

Cap Rate 9%

$325,078

Alternative Uses

Best Use

Multifamily LT 5

$418.0K

$365.7K – $487.6K (±1% cap)

NOI $29,257 @ 7.0% cap · market cap 5.32%

Second Best

Apartment 5plus

$384.6K

$336.5K – $448.7K (±1% cap)

NOI $26,923 @ 7.0% cap · market cap 4.90%

Theoretical Best

Office A

$743.0K

$650.2K – $866.9K (±1% cap)

NOI $52,013 @ 7.0% cap · market cap 9.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Storage Facility Garden Center Auto Repair Shop Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 37708, TN

6,584

Population

3,490

Households

1.9

Avg Household Size

49

Median Age

16%

College-Educated

79%

High-School Grad

41.3 sq mi

ZIP Area

159

Density / Sq Mi

$45,331

Median Household Income

$31,981

Median Earnings

$621

Median Rent

$161,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level configuration supports distinct living arrangements with an existing month-to-month rental component.

Where is this duplex located?

The property is located at 122 Circle Drive Bean Station, TN.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Lakefront 0.5‑acre property with 3,000 square feet; Upper level includes 3 bedrooms and 2 full bathrooms; Lower level has 5 rooms, a large gathering area, and a full bathroom