874 & 878 Boone Acres Lane
About This Property
Perched at approximately 1,500 feet in elevation along a scenic ridgeline, the property offers the potential for spectacular Smoky Mountain views with selective tree clearing, along with seasonal views of fireworks displays over Pigeon Forge. From sunrise over the mountains to evenings under the stars, this is the type of setting buyers dream about when imagining life in the Smokies.
Much of the preparation has already been completed, with a private graveled road leading to separate driveways and multiple premier building sites throughout the property. Whether your vision includes additional luxury cabins, a private retreat, or preserving the natural beauty and seclusion, the possibilities are extensive.
Adding immediate value, the property includes two existing one-bedroom cabins that can begin generating income while future plans take shape. The cabins share a well and each has its own septic system, providing flexibility for continued use and future development opportunities. Subject to buyer verification and approvals, the acreage may offer the potential for additional homesites or cabins, creating an attractive blend of current revenue and long-term upside.
Surrounded by the beauty of the Great Smoky Mountains yet conveniently located near Gatlinburg, Pigeon Forge, Dollywood, shopping, dining, and the National Park, this property delivers a combination of privacy, accessibility, and investment potential that is becoming increasingly difficult to find. Whether you're building a legacy property for generations to enjoy or expanding your real estate portfolio in one of Tennessee's strongest tourism markets, this exceptional acreage offers an opportunity to create something truly special.
Buyer to verify acreage, utility availability, development potential, and all information important to their intended use. Some Photos are virtually staged to illustrate potential decor.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 21, 2026 | Listed by eXp Realty, LLC 7720 | $998,500 | |
| Listed by eXp Realty, LLC 7720 | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017