Multi-Family/BFR Zoned Acreage in Knox County

Vacant Land for Sale
Catylist Listing ID: 30818821
Property Subtypes: Multi-Family, Residential (Single Family), Other
Gross Land Area: 43.29 Acres
Sale Price: $2,995,000
Unit Price: $69,184 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/29/2022

Overview / Comments

SVN | Wood Properties is pleased to exclusively present this residentially zoned, strategically located multi-family or build-for-rent acreage in East Knoxville (outside the City limits). The flexible Planned Residential ("PR") zoning allows for many uses including multi-family apartments, build-for-rent communities, single-family detached for sale communities, as well as townhome developments. In fact, the site is approved for 12 units per acre, yielding over 500 units, in a Knoxville submarket that has seen rapid commercial and residential growth over the past several years. In addition, the parcel has been partially mass graded, further improving its topography and overall develop-ability, and has all municipal utilities available on-site.

The property is conveniently located within the rapidly-growing East Knoxville/Strawberry Plains submarket, with I-40 being less than two miles miles south of the site and four miles west of the site. Food City is directly across the street, as is Brakebill Road, which leads to multiple restaurants, retailers, healthcare providers, and schools, among other area amenities.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 061 071
Zoning: PR 12 DU/AC
Property Visibility: Excellent
Largest Nearby Street: Asheville Highway
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,695 9,347 31,981
Median Age: 38.97 42.69 41.6
Households: 708 3,764 12,732

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