Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cherokee Lake Waterfront Lot Title is generated by Realmo AI

    351 Chelaque Way Unit 108R, Mooresburg, TN 37811

    View on Map
    Claim this Listing
    For Sale
    $95,000

    0.90-acre dockable lot with 125 feet of shoreline.

    Type:Land
    Property size:
    39,204 SF
    Lot size:
    0.90 Acres
    Price / SF:
    $2/SF
    Added:
    Jan 20, 2025
    Days on Market:
    502
    Last Refresh:
    Mar 13 at 12:45 pm

    Property Features for 351 Chelaque Way Unit 108R

    General Information

    Standard status
    Active
    Size
    39,204 SF
    Lot size
    0.90 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Amy Shrader
    Amy Shrader

    Listing agent Amy Shrader License #324868

    Listing office REMAX Real Estate Ten of Morristown

    Listing date Jan 20, 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 REMAX Real Estate Ten of Morristown

    HighLights

    • Dockable lakefront property with 125 feet of shoreline on Cherokee Lake's main channel.
    • Located in the gated community of Chelaque with access to a private boat ramp, clubhouse, picnic pavilion, pickleball court, and marina.
    • Gently sloped 0.90 acre lot allows for easy lake access.
    • Utilities available at the road: High‑speed internet and electricity.
    • Primarily wooded lot offering privacy and natural surroundings with wildlife.
    • Minimum build size of 1,400 sq ft ensures property value.

    Overview

    This 0.90-acre lot in the gated community of Chelaque offers 125 feet of shoreline on the main channel of Cherokee Lake. The lakefront property is dockable per TVA and gently sloped, providing easy lake access. The primarily wooded lot offers privacy and a connection to nature. Deer and wild turkey are regular visitors. Residents have access to a private boat ramp, clubhouse, picnic pavilion, pickleball court, and marina with slips available for an additional fee. High-speed internet and electricity are at the road, while a well and septic system will be needed. The minimum build size is 1,400 sq ft, and only site-built homes are allowed. HOA dues are $690 per year. The property is intended for building a home. Potential uses include a primary residence or a weekend escape.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Mooresburg
    County
    Hawkins
    State
    Tennessee
    Longitude
    -83.18488
    Latitude
    36.32443

    Nearby Similar for Sale

    • $579,900

      Commercial Building in Mooresburg, TN

      Spacious commercial building suitable for automotive or retail businesses.
      11649 Highway 11 W, Mooresburg, TN 37811
      View Details
    • $349,900
      3,200 SF

      Commercial Building on Highway 11W

      Commercial building on 1.48 acres in high-traffic area.
      9943 Highway 11w, Mooresburg, TN 37811
      View Details
    • $349,900

      Commercial Building on Highway 11W

      Commercial building on 1.48 acres in high-traffic area.
      9943 Highway 11 W, Mooresburg, TN 37811
      View Details
    • $114,500

      Waterfront Lot in Gated Community

      Dock-able 0.71-acre waterfront lot in Chelaque Estates, Mooresburg, TN.
      1515 Catoosa Drive, Mooresburg, TN 37811
      View Details
    • $12,500

      Cherokee Lake View Residential Land

      0.80-acre lot with lake and mountain views.
      1167 Keetoowah Drive, Mooresburg, TN 37811
      View Details
    • $80,000

      Cherokee Lakefront Lot in Mooresburg

      3.2-acre dockable lakefront lot with community amenities.
      1204 Waterview Lane, Mooresburg, TN 37811
      View Details
    • $820,000

      296 Acres in Hawkins County

      296.42+/- acre retreat in Grainger & Hawkins Counties, Tennessee.
      Big Hill Road, Mooresburg, TN 37811
      View Details
    • $48,000

      Legacy Bay Wooded Acreage

      1.52 acres in Legacy Bay with lake and mountain views.
      8028 Mountain Ridge Drive, Mooresburg, TN 37811
      View Details
    • $20,000

      Cherokee Lake View Lot

      2.11-acre lot with lake views in gated community.
      1163 Keetoowah Drive, Mooresburg, TN 37811
      View Details
    • $14,900

      Cherokee Lake View Lot

      0.69-acre lot with lake views in gated community.
      1202 Keetoowah Drive, Mooresburg, TN 37811
      View Details
    • $89,900

      Mountaintop Retreat on Moseley Ridge

      9.51 acres with camper, utilities, and mountain views.
      409 Dean Road, Mooresburg, TN 37811
      View Details
    • $60,000

      Cherokee Lake View Land

      0.7 acre lot with lake views in gated community.
      1615 Sequoyah Drive, Mooresburg, TN 37811
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 0.90-acre dockable lot with 125 feet of shoreline.
    Where is this waterfront land located?
    The property is located at 351 Chelaque Way Unit 108R Mooresburg, TN.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: Dockable lakefront property with **125 feet of shoreline** on Cherokee Lake's main channel.; Located in the gated community of Chelaque with access to a private boat ramp, clubhouse, picnic pavilion, pickleball court, and marina.; Gently sloped 0.90 acre lot allows for **easy lake access**.
    (423) 748-8811
    We can help!
    Listing Contact
    Amy Shrader
    Amy Shrader
    Real Estate License ID: 324868
    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
    351 Chelaque Way, Unit 108R, Mooresburg, TN 37811
    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!