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    2414 Starboard Crest Rd Morristown, TN 37814
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    2414 Starboard Crest Rd Morristown, TN 37814

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    • Commercial real estate
    • 1.32 lot acres
    For Sale
    $99,900
    View Listing →
    Residential Land in Gated Community For Sale
    $99,900
    1.32 Acres

    Residential Land in Gated Community

    1.32 acre lot in waterfront community with amenities.

    2414 Starboard Crest, Morristown, TN 37814
    View Listing
    Property ID
    US80-2097687
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2414 Starboard Crest Rd

    Lot size
    1.32 lot acres
    Property type
    Commercial real estate
    APN
    016L

    Description

    This exceptional 1.32-acre lot is situated in the exclusive, gated Windswept community on Cherokee Lake in Morristown, Tennessee. The gently sloping terrain is ideal for a walkout basement home design. Public utilities and fiber optics are conveniently located underground, significantly reducing building costs and providing high-speed internet access. Priced at $144,900 ($109,772.73/acre), this property offers a unique opportunity to build your dream home in a luxurious setting. Windswept boasts an array of amenities including paved roads, sidewalks, a private marina, clubhouse, swimming pool, basketball court, and tennis/pickleball court. A remarkable 10,000 sq ft Manor House, overlooking Cherokee Lake, is available for resident use, including five overnight stays per year at no extra cost. Low monthly HOA dues of $75 cover access to the Manor House, marina, private boat ramp, boat slips, and community maintenance. The lot is zoned residential, with APN 016L. All information is deemed reliable but not guaranteed

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.297445
    Latitude
    36.261735

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      Cherokee Lake Lot with Boat Slip

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      Cherokee Lake Gated Community Lot

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    Similar Nearby for Sale

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      Morristown Land For Sale

      2.56 acres suitable for multiple development uses.
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      Commercial Land Near Food City

      Commercial land available with all utilities near Food City.
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      Residential Land in Morristown, TN

      3.71 acres of residential land, city utilities available.
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    • $99,000
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      Cherokee Lake Lot with Boat Slip

      0.79-acre lot with deeded boat slip in gated community.
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      0.54 Acres

      Cherokee Lake Gated Community Lot

      0.5-acre lot with lake access and mountain views.
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      View Details

    Similar Nearby for Lease

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      Land for rent near Ingles Market with ample parking.
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      Morristown CBD Office Opportunity

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      Freestanding Retail Building with Drive-Thru

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      2,500 SF

      Retail Space in Shopping Center

      Retail space available in a busy shopping center.
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      4,000 SF

      Retail Space in Morristown Center

      Retail space available in shopping center with ample parking.
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    • $26 SF/Yr

      Retail/Office Space Near Walmart

      2,400 SF endcap space in high-traffic retail area.
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    2414 Starboard Crest Rd
    Morristown, TN 37814
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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.

    More about this property
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    2414 Starboard Crest Rd, Morristown, TN, 37814
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