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

    119 Laurel Wood Road New Tazewell, TN 37825

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $154,999

    Affordable lakefront lot in Lone Mountain Shores subdivision.

    Type:Lots & Acreage
    Property size:
    74,923 SF
    Lot size:
    1.72 Acres
    Added:
    Feb 3, 2025
    Days on Market:
    441
    Last Refresh:
    Mar 13 at 12:50 pm

    Property Features for 119 Laurel Wood Road

    General Information

    Standard status
    Active
    Size
    74,923 SF
    Lot size
    1.72 Acres
    Property subtype
    Lots & Acreage

    We can help!

    Listing Contact
    Amy Backstrom

    Listing agent Amy Backstrom

    Listing office eXp Realty, LLC

    Listing date Feb 3, 2025

    Source Compass

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

    All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC

    Overview

    Norris Lake Waterfront Lot

    This lakefront lot is located in the Lone Mountain Shores subdivision. The property offers access to amenities including two boat docks, a community center, and walking trails. It is situated close to Woodlake Golf Course, three major marinas, restaurants, grocery stores, and Highway 25. The property includes a filed permit for a private boat dock. The lot size is 74923 square feet.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    New Tazewell
    County
    Claiborne
    State
    Tennessee
    Longitude
    -83.618828
    Latitude
    36.350811

    Nearby Similar for Sale

    • $50,000

      Norris Lake Waterfront Building Lot

      0.95-acre lakefront lot with 112 feet of private shoreline.
      Mystic Star Drive lot: 410, New Tazewell, TN 37825
      View Details
    • $309,900

      Commercial Land on Highway 33

      3.22 acres of commercial land on busy Highway 33.
      HARMON Rd, New Tazewell, TN 37825
      View Details
    • $330,000

      Unrestricted Acreage in New Tazewell

      65.5 acres with springs, road access, and building sites.
      515 Robinson Rd, New Tazewell, TN 37825
      View Details
    • $55,000

      Norris Lake View Homesite

      Homesite with lake and mountain views, community amenities.
      Feldspar Rd lot: 443, New Tazewell, TN 37825
      View Details
    • $89,900

      Serene Mountain and Lake Homesite

      5.48-acre homesite with lake access and mountain views.
      Mountain Shores Rd lot: 427, New Tazewell, TN 37825
      View Details
    • $40,000

      Land with Lake Community Access

      2.24 acre lot with lake and mountain views.
      Whistle Valley Road lot: 717, New Tazewell, TN 37825
      View Details
    • $44,500

      Buildable Land Near Norris Lake

      0.72 acre lot near Norris Lake with community amenities.
      0 Tortoiseshell Circle, New Tazewell, TN 37825
      View Details
    • $35,000

      Wooded Lot with Lake Views

      Large wooded lot with seasonal lake views in Rock Harbor.
      Marble Point Way lot: 548, New Tazewell, TN 37825
      View Details
    • $39,900

      Residential Land in Rock Harbor

      Large building lot in Rock Harbor Subdivision, New Tazewell, TN.
      Marble Point Way lot: 260-B, New Tazewell, TN 37825
      View Details
    • $39,900

      Residential Lot in Rock Harbor

      Large building lot with lake and mountain views.
      Marble Point Way lot: 260-A, New Tazewell, TN 37825
      View Details
    • $15,000

      Wooded Lot Near Norris Lake

      0.22-acre wooded lot with utilities near Norris Lake.
      Molly Hollow Rd, New Tazewell, TN 37825
      View Details
    • $65,000

      Buildable Lot Near Norris Lake

      0.4+/- acre lot near Norris Lake in Tennessee.
      245 Center Lane, New Tazewell, TN 37825
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Affordable lakefront lot in Lone Mountain Shores subdivision.
    Where is this waterfront land located?
    The property is located at 119 Laurel Wood Road New Tazewell, TN.
    What is the asking price?
    The asking price for this property is $154,999.
    What are key features of this property?
    This property features: Affordable lakefront lot on Norris Lake.; Permit filed for the largest private boat dock available.; Located in Lone Mountain Shores subdivision with amenities.
    We can help!
    Listing Contact
    Amy Backstrom
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!