Large Acreage Development Land in Newport
Vacant Land
for Sale
| Catylist Listing ID: |
30701911 |
| Property Subtypes: |
Agricultural, Multi-Family, Residential (Single Family), Self Storage, Other
|
| Gross Land Area: |
324 Acres
|
| Sale Price: |
$9,800 - 20,000 Per Acre |
| Total Price: |
$3,175,200 - 6,480,000 |
| Land Splits Available: |
Yes |
| Adjacent Parcels Available: |
Yes |
| Sale Terms: |
Undisclosed, Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/5/2021 |
Overview / Comments
The subject property has been in the same family for over 100 years and consists of six parcels, totaling 324 acres (+/-), that includes agriculturally zoned, commercially zoned, and residentially zoned land. The commercially zoned parcel has both Highway 73 and East Tennessee Crossing Byway frontage, and is approximately five acres. The asking price for this portion of the property is $75,000/acre.
The farmland/agriculturally zoned acreage totals nearly 308 acres and has also never been on the market. The property could continue to function as agricultural land with associated tax benefits, but would also provide a great opportunity for a subdivision, private residence, recreational, or wildlife endeavor. Further, there are just over 11 acres included in the offering that are already zoned residential and include platted and recorded residential lots, thus creating less of a time-constraint in not having to work through the entitlement process. The parcels can be purchased separately or collectively and pricing will vary depending on the size and location. The general topography is level with rolling hills. As for the location, the property is conveniently located just minutes from Downtown Newport and I-40.
|
Additional Details
| Nearest MSA: |
Newport |
| County: |
Cocke |
| Tax ID/APN: |
056 039.00, 056 039.04, 056M A 001.00, 056 042.00, 056M D 008.00, 065 035.00 |
| Property Visibility: |
Excellent |
| Available Utilities: |
Electric, Water |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,945 |
12,254 |
18,146 |
| Median Age: |
44.32 |
41.2 |
41.74 |
| Households: |
846 |
5,221 |
7,580 |
|
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