Vacant Land for Sale
Catylist Listing ID: 30770462
Property Subtypes: Hospitality, Office, Residential (Single Family), Retail, Other
Gross Land Area: 2.63 Acres
Sale Price: $1,100,000
Unit Price: $418,250 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing, Other
Cap Rate: Undisclosed
Last Updated: 1/12/2022

Overview / Comments

This highly visible property is on Crescent Drive in Alcoa (it has a Louisville address but is annexed into Alcoa City). With almost 3 acres with Alcoa Hwy frontage within .25 miles of the new Amazon fulfillment center on Singleton Station Road, this is a TRULY UNIQUE OPPORTUNITY. TDOT is doing MAJOR road work/improvements, and there will be a red light at Crescent Road plus an access road and turn around area on the street, giving access to Singleton Station (AMAZON) and Alcoa Hwy with an access road that keeps drivers from having to get back onto Alcoa Hwy. Sewer is at the street. There is a mountain view if cleared in the rear of the property. Attached is zoning info and future development and road work plans.

This land is projected to skyrocket over the next 1-3 years with the improvements and highway access and red light onto Crescent that will be in front of the current Doug Justice Auto Sales. TDOT is taking a large amount of the land in this whole area of Alcoa Hwy, leaving very little left for development. Doug Justice Auto is next door to this property. If interested in benefiting on this opportunity, any buyer/investor could purchase and hold the land, lease the land (or a portion of the land), develop into retail, multi-family, hospitality, etc; there is also a livable, residential house on property that could be fixed up and either lived in or sold, but it is not being valued in price. It has a pool and is livable now. There is also potential to divide the land as long as each parcel remains with at least 1 acre. Owner willing to work with buyer on possible business ventures as well!

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 00501801500
Property Visibility: Excellent
Largest Nearby Street: Hwy 129
Feet of Frontage: 307
Traffic/Vehicle Count: 49,137
Highway Access: Hwy 129 (Alcoa Hwy); I-140 (Pellissippi Pkwy); Singleton Station;
Topography: Level
Available Utilities: Electric, Water, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal, Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,509 16,681 58,477
Median Age: 36.87 40.71 40.91
Households: 2,062 7,211 24,199
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