12.37+/- Acres Planned Residential Zoning-Chapman Highway

Vacant Land for Sale
Also listed as Special Purpose
Catylist Listing ID: 30144732
Property Subtypes: Multi-Family, Residential (Single Family), Other
Gross Land Area: 12.37 Acres
Sale Price: $850,000
Unit Price: $68,714 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/18/2019

Overview / Comments

Approximate 13.9 acres with county PR zoning. Once approved for 95 town homes, with prior approved plans, permits and surveys. Owners forego-ed development due to health issued.

*County PR zoning allows up to 24 units per acre based on the following language: The appropriate development density of each project shall be determined by the planning commission but shall not exceed twenty-four (24) dwelling units per acre excluding areas set aside for churches, schools, or commercial uses.

Docs on file: KUB Utility Ext. Agreement, TDEC Wastewater Agreement, Prior MPC recommendation for development, Prior TDOT approval for turning lane, traffic studies, 2009 Appraisal @ $1.46M, 95 unit site plan, Highway improvement plan, drainage and retention plan, water service plan and topo.

This is an amazing opportunity for development, with much of the preliminary work being done at a cost of approximately $150,000.00.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: KNOX COUNTY
Tax ID/APN: 150020121768
Zoning: PLANNED RESIDENTIAL-PR
Property Located Between: South Knoxville and Seymour
Property Visibility: Excellent
Largest Nearby Street: Chapman Highway
Feet of Frontage: 1,000
Highway Access: Chapman Highway adjacent.
Airports: McGhee Tyson 20 Minutes
Site Description: Table top plateau grade with big views zone Knox County Planned Residential (PR), allowing up to 24 units per acre pending MPC review.
Area Description: Located in rapidly growing South Knoxville with big views. Convenient to downtown and the Smokey Mountains.
Lot Frontage: 1000
Lot Depth: 500
Zoning Description: *County PR zoning allows up to 24 units per acre based on the following language: The appropriate development density of each project shall be determined by the planning commission but shall not exceed twenty-four (24) dwelling units per acre excluding areas set aside for churches, schools, or commercial uses.
Topography: Level
Easements: Other
Easements Description: Unknown
Soil Type: Clay

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 19,166 37,369
Median Age: 41.6 40.43
Households: 7,575 14,626

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