Cavern Campground With
For Sale
$2,200,000
420 Cave Hill Rd, Blountville, TN 37617
COMMERCIAL - Blountville, TN
Property Size5,872 SF
Lot Size9.36 Acres
Price / SF$374.66
Days on Market504
Property Features for 420 Cave Hill Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B 1
Subdivision
Not In Subdivision
Directions
From Johnson City. Take 11E towards Bristol, for 10 miles. Turn LEFT onto Oakdale Rd. Travel 1.4 miles, turn LEFT onto Beaver Creek Rd. Travel .2 miles, turn RIGHT onto Old Beaver Creek Rd. Travel .2 miles, turn RIGHT onto Patterson Hill Rd. Travel 1.2 miles turn LEFT onto Cave Hill Rd.
Standard status
Active
APN
081 061.35,081 061.10,081 144.00
Size
5,872 SF
Lot size
9.36 Acres
Taxes and HOA fees
Tax Annual Amount
2736
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1991
Building materials
Aluminum Siding, Stone
Roof type
Metal
Listing Agency:
Greater Impact Realty Kingsport
(423) 530-7185
Listed By:
Wendy Watkins · License #322493
(423) 791-2868
Added: Mar 28, 2025
Changed: Aug 4
Last Checked: Aug 13 at 2:06AM
MLS# 9977946
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.
Investment Insights
Based on property information with market context.
This 9.36-acre campground property in Blountville, Tennessee, centers on a 3-mile cave system with a 1/2-mile walking route used for tours. Stainless steel rails, bridges, and walking surfaces serve the route, while upgraded low-voltage LED lighting supports the cave experience. The 5,872-square-foot main building contains a gift shop, office, and restrooms on the ground floor, with two upstairs apartments: one offering 3 bedrooms and 2 baths, and another with 2 bedrooms and 1 bath.
The campground provides 4 electric-and-water sites and a shower house. A picnic shelter sits across the street from the main building. The property is zoned B 1, was built in 1991, uses public water and septic service, and has a metal roof; the front roof section was replaced in 2024.
The campground provides 4 electric-and-water sites and a shower house. A picnic shelter sits across the street from the main building. The property is zoned B 1, was built in 1991, uses public water and septic service, and has a metal roof; the front roof section was replaced in 2024.
Key Highlights
- 9.36‑acre campground property in Blountville, TN
- 3‑mile cave system with a 1/2‑mile walking route
- 5,872‑square‑foot main building with gift shop, office, and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,814,520
$1.8M
Cap Rate 7%
$1,296,086
$1.3M
Cap Rate 9%
$1,008,067
$1.0M
Market Conditions
NOI Build-Up for 5,872 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.3K $23.04/SF
− Vacancy
−$5.7K −$0.97/SF
EGI
$129.6K $22.07/SF
− OpEx
−$38.9K −$6.62/SF
NOI
$90.7K $15.45/SF
Area
Sullivan County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,814,520
Cap Rate 7%
$1,296,086
Cap Rate 9%
$1,008,067
Alternative Uses
Best Use
Retail
$1.30M
$1.13M – $1.51M
NOI $90,726 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,927 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 37617, TN
14,422
Population
6,188
Households
2.3
Avg Household Size
47
Median Age
25%
College-Educated
87%
High-School Grad
58.4 sq mi
ZIP Area
247
Density / Sq Mi
$65,069
Median Household Income
$36,906
Median Earnings
$841
Median Rent
$225,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Campground - Cave tour facilities, on-site apartments, and utility-served camping spaces support multiple hospitality uses.
Where is this campground located?
The property is located at 420 Cave Hill Rd Blountville, TN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 9.36‑acre campground property in Blountville, TN; 3‑mile cave system with a 1/2‑mile walking route; 5,872‑square‑foot main building with gift shop, office, and restrooms
