Mountain Trail Development Tract
|Catylist Listing ID:
Hospitality, Multi-Family, Office, Retail, Self Storage, Vacation/Resort
|Gross Land Area:
||$11,449 Per Acre
||Cash to Seller
Overview / Comments
An 83+ acre tract of wooded and open development land. This property is adjacent to the commercial strip along Cosby Highway near I-40 Exit 435, and is directly behind Lowes. It is close to Walmart and other retail and hospitality venues around I-40 Exit 435. The property has a slightly elevated and rolling topography in the front (approximately 24.5 acres adjacent to the Lowes lot) that seems well suited for commercial uses like retail, office, hospitality, warehouse, and (mini) storage.The 2.46-acre tract behind Lowes is within Newport city limits. The price for these front acres is $31,600.00 per acre.
The steeper hillsides in the back (approximately 59.6 acres) seem well suited for single and multi-family residential and cabin development. The price for these back acres is $3,150.00 per acre.
In the middle of the hillside acreage, the City of Newport owns an approximately 0.7-acre lot with a water tower. From Mountain Trail Way to the water tower is a right-of-way easement, Mountain Trail Way.
Seller is willing to subdivide.
Attachments & Media
|Finance Data Year
|Real Estate Taxes - Annual($)
||064 005.01 000 & 005.18 000
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