Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    21340 Martel Rd Lenoir City, TN 37772

    View on Map
    Claim this Listing
    Picture of Land at 21340 Martel Rd, Lenoir City, TN
    For Sale
    $534,900

    LAND - Lenoir City, TN

    Lot size:
    5.00 Acres
    Added:
    Nov 5, 2025
    Days on Market:
    183
    Last Refresh:
    May 7 at 3:06 am

    Property Features for 21340 Martel Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    Map 011, Parcel 283.06
    Lot size
    5.00 Acres

    We can help!

    Listing Contact
    Marian Epps
    Marian Epps

    Listing agent Marian Epps

    Listing office Realty Executives Associates 8915 Linksvue Drive, knoxville, TN

    Listing date Nov 5, 2025

    MLS# 1320899 Listing URL

    Copyright © 2026 East Tennessee 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

    • Sprawling 1.5‑acre property ideal for your custom home.
    • Prime location offers peaceful country living.
    • Perfect setting for a single‑family residence, providing privacy and space.
    • Located on Martel Road.
    • Adjacent 5‑acre lot also available.
    • Opportunity to build a private country retreat.

    Overview

    5 Acres on Martel Road

    This 5-acre property is located along Martel Road, offering privacy and space. It is suited for a single-family residence with room for outdoor living. The location provides country living with convenient access to shopping, dining, and amenities in Lenoir City and West Knoxville. Recorded restrictions are pending. An adjacent 5-acre lot is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Gym & Fitness Center Kitchen & Bath Showroom HVAC Service Electrical Service Furniture & Home Goods Barber Shop Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir City
    County
    Loudon
    State
    Tennessee
    Longitude
    -84.20849
    Latitude
    35.82916

    Nearby Similar for Sale

    • $800,000

      Versatile Land in Lenoir City

      8.73 acres with interstate access and utilities available.
      Highway 321 N, Lenoir City, TN 37771
      View Details
    • $699,900

      Unrestricted Lakefront Land Opportunity

      1.43-acre lakefront lot on Fort Loudoun Lake with utilities.
      3798 Lakeland Drive, Lenoir City, TN 37772
      View Details
    • $895,000

      Dockable Waterfront Land Opportunity

      8.25-acre waterfront tract with dock and septic permits.
      281 Blackburn Lane, Lenoir City, TN 37771
      View Details
    • $379,000
      1,344 SF

      Lenoir City Duplex Investment Opportunity

      Income-producing duplex near Lenoir City Park. Great investment opportunity.
      2182 Lakeview Rd, Lenoir City, TN 37772
      View Details
    • $260,000

      Lenoir City Land Opportunity

      7.33 acres near lake access with development potential.
      3697 Jackson Bend Road, Lenoir City, TN 37772
      View Details
    • $450,000

      Lenoir City Land with Views

      2.53-acre lot with mountain views near West Knoxville amenities.
      Dunsmore Rd lot: 2, Lenoir City, TN 37771
      View Details
    • $450,000

      Lenoir City Land with Views

      2.53-acre lot with mountain views near West Knoxville amenities.
      Dunsmore Rd lot: 1, Lenoir City, TN 37771
      View Details
    • $170,000

      Residential Lot in Lenoir City

      0.9-acre lot in lakefront subdivision, convenient to amenities.
      Brooksview Rd lot: 137, Lenoir City, TN 37772
      View Details
    • $450,000

      Land with Mountain Views

      2.53-acre property with mountain views near West Knoxville.
      Dunsmore Rd lot: 3, Lenoir City, TN 37771
      View Details
    • $82,000

      Lenoir City Homesite Opportunity

      Spacious homesite in established neighborhood, convenient to amenities.
      141 Tristan Court, Lenoir City, TN 37772
      View Details
    • $547,500

      Estate-Sized Lot in Lenoir City

      5-acre lot near West Knoxville, Lenoir City, and Fort Loudon Lake.
      22400 Martel Rd, Lenoir City, TN 37772
      View Details
    • $260,000

      Lenoir City Land Opportunity

      7.33 acres near lake access, shops, and recreation.
      3697 Jackson Bend Rd, Lenoir City, TN 37772
      View Details

    FAQs

    What type of property is this?
    Land - 5-acre property for single-family residence in Lenoir City, TN.
    Where is this land located?
    The property is located at 21340 Martel Rd Lenoir City, TN.
    What is the asking price?
    The asking price for this property is $534,900.
    What are key features of this property?
    This property features: Sprawling 1.5‑acre property ideal for your custom home.; Prime location offers peaceful country living.; Perfect setting for a single‑family residence, providing privacy and space.
    (865) 531-2020
    We can help!
    Listing Contact
    Marian Epps
    Marian Epps
    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

    Thank You for Inquiry
    21340 Martel Rd, Lenoir City, TN 37772
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!