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    512 W Mitchell Rd Greenfield, TN 38230
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    512 W Mitchell Rd, Greenfield, TN 38230

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    • Commercial real estate
    For Sale
    $279,900
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    Secluded Hunting Land in Greenfield For Sale
    $279,900
    52.00 Acres

    Secluded Hunting Land in Greenfield

    52 acres of wooded land, ideal for hunting.

    512 W Mitchell Road, Greenfield, TN 38230
    View Listing
    Property ID
    US80-0080030
    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 512 W Mitchell Rd

    Property type
    Commercial real estate

    Description

    This exceptional 2,187,147.6 square foot property, located at 512 W Mitchell Road in Greenfield, Tennessee (zip code 38230), presents a unique investment opportunity. Classified as farmland with recreational uses, this expansive tract offers a diverse range of possibilities. Situated conveniently near Harts Mill Wildlife Management Area, the land boasts significant wildlife potential, including excellent duck hunting in the swampy areas and prime hunting grounds for deer and turkey. Beyond recreational pursuits, the property includes suitable hill ground for row crop cultivation, providing further income potential. The land also features a desirable building site, allowing for the construction of a residence or other structures to enhance the property's value and functionality. The asking price for this remarkable property is $241,060. This is a rare chance to acquire a versatile and income-generating property in a desirable Tennessee location. The property's size and diverse features make it ideal for a variety of uses, from hunting and recreation to agricultural production. Don't miss this opportunity to own a piece of Tennessee farmland with exceptional potential.

    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
    Greenfield
    County
    Weakley
    State
    Tennessee
    Longitude
    -88.706411
    Latitude
    36.081669

    Comparable in this City

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    • $150,000
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      Versatile 25-Acre Greenfield Tract

      25 acres suitable for recreation, hunting, or cattle operation.
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    • $179,000
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      Hearn Road Farms Land

      19.15 acres of land ideal for a mini farm.
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    • $190,000
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      Greenfield, TN Timber Tract

      42.15-acre wooded property ideal for recreation or investment.
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    • $75,000
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      Commercial Lot in Greenfield, TN

      High-visibility commercial lot near Highway 45 and Dollar General.
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    • $32,000
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      Residential Land in Dyer, TN

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    Similar Nearby for Sale

    • $149,000
      15.35 Acres

      Hearn Road Farms Land

      15.35 acres of land ideal for a mini farm.
      1 Hearn Rd, Greenfield, TN 38230
      View Details
    • $150,000
      Pending

      Versatile 25-Acre Greenfield Tract

      25 acres suitable for recreation, hunting, or cattle operation.
      Will Young Rd, Greenfield, TN 38230
      View Details
    • $179,000
      19.15 Acres

      Hearn Road Farms Land

      19.15 acres of land ideal for a mini farm.
      2 Hearn Rd, Greenfield, TN 38230
      View Details
    • $190,000
      42.15 Acres

      Greenfield, TN Timber Tract

      42.15-acre wooded property ideal for recreation or investment.
      Ethridge Levee Rd, Greenfield, TN 38230
      View Details
    • $75,000
      10.40 Acres

      Commercial Lot in Greenfield, TN

      High-visibility commercial lot near Highway 45 and Dollar General.
      S Meridian St, Greenfield, TN 38230
      View Details
    • $32,000
      2.76 Acres

      Residential Land in Dyer, TN

      2.76 acres ready for your dream home.
      15 Walnut Extended St, Dyer, TN 38230
      View Details
    View Listing
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    Greenfield, TN 38230
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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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