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    Land with Existing Septic System Title is generated by Realmo AI

    125 Picadilly Way, Parrottsville, TN 37843

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    Claim this Listing
    For Sale
    $219,000

    LAND - Parrottsville, TN

    Lot size:
    5.01 Acres
    Added:
    Dec 15, 2025
    Days on Market:
    150
    Last Refresh:
    May 14 at 10:06 pm

    Property Features for 125 Picadilly Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    022 021 15.00
    Lot size
    5.01 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    177

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Additional Structures
    RV/Boat Storage

    We can help!

    Listing Contact
    Leslie Vestal

    Listing agent Leslie Vestal License #268535

    Listing office Weichert, REALTORS - Tiger Rea PO Box 103, TN

    Listing date Dec 15, 2025

    MLS# 309425 Listing URL

    Copyright © 2026 Great Smoky Mountains Association of 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

    • 5.01 acre tract with Mountain Views, ideal for building a dream home or vacation property.
    • Existing septic system, well, and electricity already in place.
    • Includes a 2008 Grand Junction Dutchmen fifth wheel with 4 slide outs and a 38'x12' deck.
    • Fifth Wheel features solid hardwood cabinets and granite countertops along with refrigerator, convection microwave, and 22'' oven with burner range.
    • Fifth Wheel includes king size bed, washer/dryer, and ample storage.
    • Includes a 12x20 vinyl carport.

    Overview

    This 5.01-acre tract of land in Parrottsville, TN, offers country living with key improvements already in place, including an existing septic system, well, and electricity. The property presents an opportunity to build a dream home with mountain views and allows for a manufactured home or use as a vacation property. A 2008 Grand Junction Dutchmen is set up on the property, accompanied by a 38'x12' deck and a 12x20 vinyl carport. The Fifth Wheel features 4 slide outs, solid hardwood cabinet doors and frames, granite countertops, a refrigerator, a convection microwave, and a 22'' oven with burner range. A free-standing dinette with four chairs complements the living room, which includes two reclining chairs, a loveseat with a pull-out bed, and a ceiling fan. The bedroom features a king-size mattress, reading lights above the raised panel, a hardwood headboard, and solid wood slide fascia. Storage below the lift-up bed is suitable for blankets, sheets, and spare pillows, and a large front wall closet is also available. The master bedroom storage ensemble includes a mirrored closet, a washer/dryer cabinet with a closet rod, and plentiful drawer space. The bathroom offers a full-size shower, a sink with granite countertops, and three cabinets.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Auto Repair Shop Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Parrottsville
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.04833
    Latitude
    36.053165

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    FAQs

    What type of property is this?
    Residential land & home lot - 5.01 acre tract with septic, well, and electricity.
    Where is this residential land & home lot located?
    The property is located at 125 Picadilly Way Parrottsville, TN.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: 5.01 acre tract with **Mountain Views**, ideal for building a dream home or vacation property.; Existing septic system, well, and electricity already in place.; Includes a 2008 Grand Junction Dutchmen fifth wheel with 4 slide outs and a 38'x12' deck.
    (865) 254-2328
    We can help!
    Listing Contact
    Leslie Vestal
    Real Estate License ID: 268535
    Learn More
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    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.

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