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    Historic Farmhouse and Event Venue Title is generated by Realmo AI

    374 Sycamore Shoals Drive, Elizabethton, TN 37643

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    For Sale
    $847,000

    COMMERCIAL - Elizabethton, TN

    Property size:
    3,280 SF
    Lot size:
    15.00 Acres
    Price / SF:
    $258/SF
    Added:
    May 20, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 374 Sycamore Shoals Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    AG
    Standard status
    Active
    APN
    040 055.00
    Size
    3,280 SF
    Lot size
    15.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1100

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1918
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Sandy Poe
    Sandy Poe

    Listing agent Sandy Poe License #259494

    Listing office Alliance Sotheby's International Realty 8862 Cedar Spring Lane Suite 100, TN

    Listing date May 20, 2026

    MLS# 9995673

    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.

    Overview

    Meredith Valley Farm, situated in the foothills of the Southern Appalachian Mountains in Northeast Tennessee, presents a 15-acre mini-farm featuring a historic farmhouse, event shed, iconic red barn, fenced pastureland, and a spring-fed pond. The original farmhouse, constructed in 1918, offers over 3,200 square feet of living space, including 4 bedrooms and 3 bathrooms. The residence features hardwood floors, spacious rooms with high ceilings, an updated kitchen, and separate upper-level living quarters. An expansive front porch provides views of the Cherokee National Forest and surrounding countryside. Adjacent to the residence, the Farmhouse Event Shed serves as a venue for weddings, receptions, reunions, and special events, surrounded by landscaped gardens and overlooking the red barn. Both the Farmhouse and Event Shed function as income-producing properties, offering the option to continue as event and rental venues or to reimagine the estate as a private retreat. The property also includes rolling fenced pastureland and a spring-fed pond suitable for livestock, farming, or recreation. Several homesites are available for constructing a custom residence. Located in Elizabethton, the property provides access to amenities and is within reach of Johnson City, Bristol, Asheville, and Boone. The property is zoned AG. The farmhouse was meticulously maintained and is all-brick. The property is suited for preservation as a multigenerational farm or as an investment and event destination.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethton
    County
    Carter
    State
    Tennessee
    Longitude
    -82.258419
    Latitude
    36.346681

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    FAQs

    What type of property is this?
    Farm - 15-acre mini-farm with historic farmhouse, event shed, and pastureland.
    Where is this farm located?
    The property is located at 374 Sycamore Shoals Drive Elizabethton, TN.
    What is the asking price?
    The asking price for this property is $847,000.
    (865) 207-0004
    We can help!
    Listing Contact
    Sandy Poe
    Sandy Poe
    Real Estate License ID: 259494
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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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    374 Sycamore Shoals Drive, Elizabethton, TN 37643
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