Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Scenic 8.10 Acre Land Parcel Title is generated by Realmo AI

    971 Palmer Road, Lebanon, TN 37087

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $449,000

    8.10 acre tract approved for a 4-bedroom septic system.

    Added:
    Jun 4, 2025
    Days on Market:
    344
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 971 Palmer Road

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    RUSSELL PARRISH

    Listing agent RUSSELL PARRISH

    Listing office PARRISH & ASSOCIATES

    Listing date Jun 4, 2025

    Source Corcoran

    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 PARRISH & ASSOCIATES

    HighLights

    • 8.10 acre tract of land, perfect for your vision.
    • Approved for a 4 bedroom septic system.
    • Enjoy the scenic character of this property.
    • Build your dream home in this picturesque setting.
    • Located on Palmer Road.

    Overview

    This 8.10-acre tract of land on Palmer Road is approved for a 4-bedroom septic system. The site offers scenic character for a picturesque setting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Kitchen & Bath Showroom Bed & Breakfast Travel Agency (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Wilson
    State
    Tennessee
    Longitude
    -86.3838
    Latitude
    36.2165

    Nearby Similar for Sale

    • $550,000
      1,989 SF

      Renovated Commercial Building Near I-40

      Versatile commercial property in Lebanon, TN, suitable for various businesses.
      722 Park Ave, Lebanon, TN 37087
      View Details
    • $599,000
      1,535 SF

      Retail Building Near Interstate I40

      1.05 acre retail property with 1535 sq ft building.
      331 S Maple St, Lebanon, TN 37087
      View Details
    • $599,000
      1,535 SF

      Retail Building Near Interstate I40

      1.05 acre retail property with 1535 SF building.
      331 S Maple St, Lebanon, TN 37087
      View Details
    • $169,900

      Lakefront Lot in Gated Community

      Rare lakefront lot in Lebanon's exclusive gated community.
      151 Angels Cove Ln., LEBANON, TN 37087
      View Details
    • $999,999
      2,493 SF

      Renovated Commercial Property For Sale

      Completely renovated commercial property suitable for retail, office, or mixed-use.
      902 Carthage Hwy, Lebanon, TN 37087
      View Details
    • $425,000
      1,080 SF

      Renovated 1930s Office Building

      Fully renovated 1930s office building suitable for various professional uses.
      106 S Tarver Ave, Lebanon, TN 37087
      View Details
    • $364,900

      Commercial Land on Lebanon's West

      1.5 acres of commercial land for sale in Lebanon.
      1504 Noah Ct, Lebanon, TN 37087
      View Details
    • $448,000

      Lebanon Land Investment Opportunity

      Prime Lebanon land with development potential and convenient location.
      139 Rocky Rd, Lebanon, TN 37087
      View Details
    • $3,000,000
      4,115 SF

      Prime Commercial Site I-840 Corridor

      6.3-acre commercial site with I-840 corridor access.
      15751 Central Pike, Lebanon, TN 37090
      View Details
    • $995,000
      2,500 SF

      Victorian Era Commercial Property

      Historic Lebanon property ideal for office, boutique, or mixed-use.
      118 S Greenwood St, Lebanon, TN 37087
      View Details
    • $2,950,000

      Prime Commercial Land For Sale

      2.96 acres with extensive road frontage and utilities.
      3301 Hwy 109 N, Lebanon, TN 37087
      View Details
    • $1,000,000

      Commercial Land in Growing Community

      Large, level corner lot with commercial potential in Gladeville, TN.
      9303 Stewarts Ferry Pike, Lebanon, TN 37090
      View Details

    FAQs

    What type of property is this?
    Land - 8.10 acre tract approved for a 4-bedroom septic system.
    Where is this land located?
    The property is located at 971 Palmer Road Lebanon, TN.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: 8.10 acre tract of land, perfect for your vision.; Approved for a 4 bedroom septic system.; Enjoy the scenic character of this property.
    (615) 773-4020
    We can help!
    Listing Contact
    RUSSELL PARRISH
    Learn More
    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
    971 Palmer Road, Lebanon, TN 37087
    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!