Mountain Trail Development Tract

Vacant Land for Sale
Catylist Listing ID: 30750860
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Self Storage, Vacation/Resort
Gross Land Area: 83.85 Acres
Sale Price: $700,000
Unit Price: $8,348 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/15/2022

Overview / Comments

An 83+ acres tract of wooded and open development land. This property is adjacent the commercial strip along Cosby Highway near I-40 Exit 435, and is directly behind Lowes and 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 steeper hillsides in the back (approximately 59.6 acres) seem well-suited for single and multi-family residential and cabin development.

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.

Attachments & Media

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $2,700 (Annual)

Additional Details

Nearest MSA: Newport
County: Cocke
Tax ID/APN: 064 005.01 000 & 005.18 000
Zoning: UNZONED

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,624 16,737
Median Age: 42.25 40.93
Households: 4,542 6,999

Contact

Photograph of Listing Agent

August Timisela

NAI Koella | RM Moore KAAR CIE Member
Photograph of Listing Agent

Justin Sterling

NAI Koella | RM Moore KAAR CIE Member
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