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    Land in Gated Mountain Community Title is generated by Realmo AI

    Black Bear Drive, Butler, TN 37640

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    Claim this Listing
    For Sale
    $125,000

    LAND - Butler, TN

    Lot size:
    2.14 Acres
    Added:
    Jan 2, 2026
    Days on Market:
    141
    Last Refresh:
    May 23 at 3:06 am

    Property Features for Black Bear Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    038p A 013.00
    Lot size
    2.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    241

    Utilities

    Utilities
    Cable Available
    Water source
    Well

    We can help!

    Listing Contact
    Debra Elliott-Wade

    Listing agent Debra Elliott-Wade License #344292

    Listing office CENTURY 21 Legacy 414 Ashe Street, Johnson City, TN

    Listing date Jan 2, 2026

    MLS# 9989721 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

    • Two combined lots in an exclusive gated mountain community (Bear Ridge Estates).
    • Exceptional privacy due to location at the end of a cul‑de‑sac and backing an 84‑acre estate.
    • Located near Watauga Lake (1,000 feet+).
    • Flexible building opportunity for a primary residence, vacation home, or retirement retreat.
    • Easy access to Boone, NC (ski slopes), Asheville, Dollywood, Gatlinburg, and Pigeon Forge.
    • Utilities available: Cable and Well water source.

    Overview

    Located in Bear Ridge Estates, a gated mountain community in Butler, Tennessee, this property features two combined lots. One lot is situated at the end of a cul-de-sac on Black Bear Drive, and the other is connected on Forest Drive. This 2.14-acre property offers flexibility for a thoughtfully designed home. Backed by an 84-acre estate, the property provides privacy and an uninterrupted setting. Located approximately 1,000 feet from Watauga Lake, Bear Ridge Estates offers a retreat for those seeking privacy and a lifestyle immersed in nature. This property serves as a canvas for building a forever home, a mountain or lake getaway, or a place to retire. The location provides access to destinations including Boone, North Carolina (40 minutes to ski slopes), Asheville, and Dollywood, Gatlinburg, and Pigeon Forge.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Butler
    County
    Johnson
    State
    Tennessee
    Longitude
    -82.052961
    Latitude
    36.354282

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    FAQs

    What type of property is this?
    Residential land & home lot - Two combined lots in a gated mountain community near Watauga Lake.
    Where is this residential land & home lot located?
    The property is located at Black Bear Drive Butler, TN.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Two combined lots in an exclusive gated mountain community (Bear Ridge Estates).; Exceptional privacy due to location at the end of a cul‑de‑sac and backing an 84‑acre estate.; Located near Watauga Lake (1,000 feet+).
    (865) 318-2355
    We can help!
    Listing Contact
    Debra Elliott-Wade
    Real Estate License ID: 344292
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    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.

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