Short-Term Rental Property with
For Sale
$1,000,000
8113 West Old Highway 73, Townsend, TN 37882
Four cabins share outdoor gathering space and offer kitchenettes, climate control, and in-unit guest amenities.
Property Size3,688 SF
Lot Size0.51 Acres
Price / SF$271.15
Days on Market144
Property Features for 8113 West Old Highway 73
General Information
Standard status
Active
Size
3,688 SF
Lot size
0.51 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,888
Amenities
covered patio
outdoor seating
dining area
gas grill
Smart TV
sitting area
kitchenette
refrigerator
microwave
toaster
cooking essentials
central heating and air conditioning
Other
Yes
True
Other, Electric
Microwave, Refrigerator, Other
Fiber Cement, Frame, Other
Building Details
Year Built
1940
Listing Agency:
Mountain Realty Group
(865) 548-8882
Listed By:
Michael McConnell · License #276103
Source:
Compass
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 31 at 1:56AM
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 Mountain Realty Group
Investment Insights
Based on property information with market context.
This 0.51-acre short-term rental property includes four cabins and a renovated rear building. Three cabins each contain 648 square feet, while the fourth provides 720 square feet and is occupied by the owners. The additional building measures 1,024 square feet, bringing the property total to 3,688 square feet. The cabins were remodeled from their original 1940 construction and include central heating and air conditioning, Smart TVs, sitting areas, kitchenettes, refrigerators, microwaves, toasters, and cooking supplies.
The three smaller cabins have recently entered short-term rental operation. Shared outdoor features include a covered patio, seating, dining space, and a gas grill. Located at 8113 West Old Highway 73 in Townsend, the property is near Great Smoky Mountains National Park and area dining, entertainment, fishing, tubing, and horseback riding destinations.
The three smaller cabins have recently entered short-term rental operation. Shared outdoor features include a covered patio, seating, dining space, and a gas grill. Located at 8113 West Old Highway 73 in Townsend, the property is near Great Smoky Mountains National Park and area dining, entertainment, fishing, tubing, and horseback riding destinations.
Key Highlights
- 0.51‑acre short‑term rental property in Townsend, TN
- Three cabins at 648 sq ft each and one 720 sq ft cabin
- Renovated rear building measures 1,024 sq ft
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
$33,348
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
3.33%
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%
$666,960
$667.0K
Cap Rate 7%
$476,400
$476.4K
Cap Rate 9%
$370,533
$370.5K
Market Conditions
NOI Build-Up for 3,688 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
$65.1K $17.64/SF
− Vacancy
−$4.4K −$1.20/SF
EGI
$60.6K $16.44/SF
− OpEx
−$27.3K −$7.40/SF
NOI
$33.3K $9.04/SF
Area
Blount County, TN
Vacancy
6.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$666,960
Cap Rate 7%
$476,400
Cap Rate 9%
$370,533
Alternative Uses
Best Use
Apartment 5plus
$476.4K
$416.9K – $555.8K
NOI $33,348 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,934 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 37882, TN
3,061
Population
2,455
Households
1.2
Avg Household Size
58
Median Age
33%
College-Educated
93%
High-School Grad
183.8 sq mi
ZIP Area
17
Density / Sq Mi
$61,875
Median Household Income
$35,473
Median Earnings
$1,032
Median Rent
$292,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Four cabins share outdoor gathering space and offer kitchenettes, climate control, and in-unit guest amenities.
Where is this short term rental property located?
The property is located at 8113 West Old Highway 73 Townsend, TN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 0.51‑acre short‑term rental property in Townsend, TN; Three cabins at 648 sq ft each and one 720 sq ft cabin; Renovated rear building measures 1,024 sq ft
