Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Zoned Acreage for Development Title is generated by Realmo AI

    840 Gap Creek Road, Elizabethton, TN 37643

    View on Map
    Claim this Listing
    New
    For Sale
    $434,000

    LAND - Elizabethton, TN

    Lot size:
    31.10 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 840 Gap Creek Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RESIDENTIAL
    Standard status
    Active
    APN
    048 03300 000
    Lot size
    31.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    325

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Colin Johnson

    Listing agent Colin Johnson License #281993

    Listing office KW Johnson City 3009 Greenline Road, Johnson City, TN

    Listing date Jun 5, 2026

    MLS# 9996433 Listing URL

    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.

    HighLights

    • 31.1‑acre tract with mature trees, established wildlife habitat, and several existing clearings
    • Combination of wooded acreage and open areas for homesites, gardens, pasture, or crop production
    • Multiple potential building locations for flexible placement with privacy and scenic views
    • Approximately 2.1 acres on the right‑hand side of a new four‑lane highway
    • Road frontage plus electricity available

    Overview

    This 31.1-acre tract is a mix of mature trees, established wildlife habitat, and several existing clearings. The property offers multiple potential building locations while retaining privacy, with wooded acreage and open areas that could support uses such as an estate setting, family homestead, hunting and outdoor recreation, or agricultural activities like pasture or crop production.

    The land includes road frontage, and approximately 2.1 acres of the property are located on the right-hand side of a new four-lane highway. This highway-adjacent portion may provide additional options for access and visibility as you plan your use of the acreage.

    Zoned residential, the property may fit buyers looking for a larger homesite environment or a recreation-focused property with room for outdoor pursuits. With both wooded and cleared areas, it can also be considered for buyers planning a staged approach to site development, depending on preferred locations for future structures or agricultural improvements. The combination of clearings, timber cover, and wildlife habitat supports a range of practical land uses within a residential zoning framework.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Kitchen & Bath Showroom Plumbing Service Arcade & Gaming Center Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethton
    County
    Carter
    State
    Tennessee
    Longitude
    -82.24816
    Latitude
    36.318792

    Nearby Similar for Sale

    • $749,999
      4,348 SF

      Dominant Corner Commercial Property

      Adaptable commercial space with high visibility and traffic.
      2214 W Elk Ave, Elizabethton, TN 37643
      View Details
    • $399,999
      3,600 SF

      Elizabethton Commercial Property with Riverfront

      Two buildings on 1.67 acres with Watauga River frontage.
      217 Lovers Lane, Elizabethton, TN 37643
      View Details
    • $5,000
      3,600 SF

      Turnkey Medical/Professional Office Space

      Versatile office space with elegant finishes and expansion potential.
      106 Rogosin Drive, Elizabethton, TN 37643
      View Details
    • $395,000
      920 SF

      Retail Investment Opportunity

      Retail building with NNN lease in high-traffic Elizabethton corridor.
      1201 Highway 19e, Elizabethton, TN 37643
      View Details
    • $145,000
      4,750 SF

      Historic Elizabethton Building Awaits Renovation

      Prime downtown location with renovation potential for retail, office, apartments.
      537 E Elk Avenue, Elizabethton, TN 37643
      View Details
    • $37,900

      Residential Land in Elizabethton, TN

      0.71-acre lot near Elizabethton with utilities available.
      176 Keenburg Road, Elizabethton, TN 37643
      View Details
    • $859,900
      2,643 SF

      Prime Commercial Building on Corner Lot

      Exceptional commercial building in high-traffic area, suitable for various businesses.
      111 W Elk / Charlie Robinson Avenue, Elizabethton, TN 37643
      View Details
    • $1,290,000

      Prime Commercial Land Elizabethton, TN

      2.6 acres suitable for hotel, restaurant, office, or retail.
      E Elk Avenue, Elizabethton, TN 37643
      View Details
    • $890,000

      51 Acres in Elizabethton, TN

      Land with meadows, woods, creek, and mountain views.
      3039 Hwy 91, Elizabethton, TN 37643
      View Details
    • $150,000

      3.47 Acre Elizabethton Land

      Unrestricted 3.47-acre lot with mountain views near Elizabethton.
      Garrison Hollow Road, Elizabethton, TN 37643
      View Details
    • $470,000
      2,400 SF

      Established Commercial Property on Highway

      High-traffic location ideal for automotive sales or other commercial uses.
      3861 Highway 19-E, Elizabethton, TN 37643
      View Details
    • $149,000
      1,200 SF

      Elizabethton Land with Mountain Views

      3.4-acre property with mountain views and building potential.
      160 Bob S Hollow Road, Elizabethton, TN 37643
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 31.1-acre wooded tract with multiple clearings and road frontage, including 2.1 acres on a four-lane highway frontage area.
    Where is this agricultural land / farmland located?
    The property is located at 840 Gap Creek Road Elizabethton, TN.
    What is the asking price?
    The asking price for this property is $434,000.
    What are key features of this property?
    This property features: 31.1‑acre tract with mature trees, established wildlife habitat, and several existing clearings; Combination of wooded acreage and open areas for homesites, gardens, pasture, or crop production; Multiple potential building locations for flexible placement with privacy and scenic views
    (423) 930-8003
    We can help!
    Listing Contact
    Colin Johnson
    Real Estate License ID: 281993
    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
    840 Gap Creek Road, Elizabethton, TN 37643
    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!