Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Somerville Vacant Lot Opportunity Title is generated by Realmo AI

    HWY 76, Somerville, TN 38068

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Somerville, TN

    Lot size:
    0.10 Acres
    Added:
    Jun 17, 2025
    Days on Market:
    353
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for HWY 76

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R
    Standard status
    Active
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    25

    We can help!

    Listing Contact
    Renae Jackson

    Listing agent Renae Jackson

    Listing office KAIZEN Realty, LLC 7540 North Street, Germantown, TN

    Listing date Jun 17, 2025

    MLS# 10199229 Listing URL

    Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime vacant lot in highly desirable, rapidly growing Somerville.
    • Convenient location near South Main Street and across from Solar Farm (unobstructed view).
    • Significant development and economic expansion driven by nearby Blue Oval City.
    • Zoning updates allow variance application for building a bungalow, cottage, or small‑footprint home.
    • Well already installed on the property.
    • Lot size: 4,240 sq ft (53x80).

    Overview

    This 4,240 sq ft vacant lot is located in Somerville, offering convenient access to South Main Street. The property is situated directly across from the Solar Farm, providing an open and unobstructed setting. A well is already installed on the property. Recent zoning updates allow buyers to apply for a variance, making this an opportunity to build a bungalow, cottage, or thoughtfully designed small-footprint home. The lot offers potential for personal use and long-term investment, with Blue Oval City driving major development and economic expansion nearby.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Somerville
    County
    Hardeman
    State
    Tennessee
    Longitude
    -89.345
    Latitude
    35.2546

    Nearby Similar for Sale

    • $199,900

      Somerville Land on Highway 64

      3.05+/- acres of raw land with high visibility.
      22345 HWY 64, Somerville, TN 38068
      View Details
    • $119,000

      Residential Building Lot in Somerville

      3.01-acre residential lot near Oakland with utilities available.
      2 DOGWOOD Rd lot: 2, Somerville, TN 38068
      View Details
    • $132,250

      Fayette County Hobby Farm Land

      Charming 11.5-acre hobby farm with pecan orchard and open fields.
      11925 OLD JACKSON Rd, Somerville, TN 38068
      View Details
    • $115,000

      Wooded Residential Homesite Acreage

      Build on level front ground, then enjoy rolling wooded acreage with mature hardwoods and wildlife for recreation or hunting.
      1240 JOANN Rd, Somerville, TN 38068
      View Details
    • $62,900

      Somerville, TN Land For Sale

      Two acres of wooded land near Somerville Country Club Golf Course.
      1 Beech Loop, Somerville, TN 38068
      View Details
    • $335,000

      Recreational Land in Fayette County

      34+ acre recreational or homesite property in Fayette County.
      OLD BROWNSVILLE Rd, Somerville, TN 38068
      View Details
    • $138,900

      Somerville, TN Land Opportunity

      8-acre property with city utilities, ideal for development.
      KAY Ln, Somerville, TN 38068
      View Details
    • $167,865

      Somerville Land with Hilltop Homesite

      17.67 acres in Fayette County, convenient to I-40.
      4510 FAYETTE CORNERS Dr, Somerville, TN 38068
      View Details
    • $6,965,000

      Somerville Development Tract For Sale

      200-acre R3 development tract east of Somerville, Tennessee.
      HWY 64, Somerville, TN 38068
      View Details
    • $259,900

      Somerville Land on Highway 64

      2.85 acres of commercial land with business opportunities.
      17775 HWY 64, Somerville, TN 38068
      View Details
    • $500,000

      Somerville Land Parcel For Sale

      1.8 acre lot suitable for development in Somerville, TN.
      W MARGINAL St, Somerville, TN 38068
      View Details
    • $475,000

      60 Acres with Scenic Pond

      60.2 acres with pond, utilities, and high-speed internet.
      3990 MONK HOUSE Rd, Unincorporated, TN 38068
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot in Somerville near South Main Street.
    Where is this residential land & home lot located?
    The property is located at HWY 76 Somerville, TN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime vacant lot in highly desirable, rapidly growing Somerville.; Convenient location near South Main Street and across from Solar Farm (unobstructed view).; Significant development and economic expansion driven by nearby Blue Oval City.
    (901) 581-7007
    We can help!
    Listing Contact
    Renae Jackson
    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
    HWY 76, Somerville, TN 38068
    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!