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    2625 Cherokee Park Rd Morristown, TN 37814

    For Sale
    $350,000

    3.18 Acres, Prime Commercial Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 3.18-acre commercial land parcel presents a unique investment opportunity in Morristown, Tennessee. Strategically located at 2625 Cherokee Park Rd, the property enjoys high visibility and accessibility, situated between the popular intersections of Buffalo Trail/Cherokee Park Rd and Cherokee Park Rd/25E. The land is zoned for Local Business District use, offering a wide range of potential development options. The property includes Parcel 012.03. While there is an existing building on the site, it is not in good condition and may require demolition or extensive renovation. This presents a blank canvas for a new construction project tailored to specific business needs. The expansive lot size provides ample space for a variety of commercial ventures, from retail establishments to office spaces or light industrial uses. With its prime location and flexible zoning, this property offers significant potential for growth and return on investment. The address is 2625 Cherokee Park Rd, Morristown, TN 37814, within Hamblen County. The asking price is $350,000. This is a rare opportunity to acquire a substantial commercial land parcel in a thriving Tennessee community.

    Property Features for 2625 Cherokee Park Rd

    General Information

    Property type
    Land
    Lot Size
    138,521 SF

    HighLights

    • $350,000 asking price.
    • 3.18‑acre commercial land parcel.
    • Located in Morristown, Tennessee, in the Local Business District.
    • Situated near the intersection of Buffalo Trail/Cherokee Park Rd and Cherokee Park Rd/25E.
    • Includes Parcel 012.03.
    • Existing building on site is in poor condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Auto Parts Store Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.281932539146
    Latitude
    36.254270061987

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    FAQs

    What type of property is this?
    Land - 3.18 Acres, Prime Commercial Location
    Where is this land located?
    The property is located at 2625 Cherokee Park Rd Morristown, TN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: $350,000 asking price.; 3.18-acre commercial land parcel.; Located in Morristown, Tennessee, in the Local Business District.
    Request Owner's contact information
    2625 Cherokee Park Rd Morristown, TN 37814
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    Morristown, TN 37814
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    Realmo Value Estimation

    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.

    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.

    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
    2625 Cherokee Park Rd Morristown, TN 37814
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