22.5 Acres in Qualified Opportunity Zone

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30583886
Property Subtypes: Multi-Family, Retail, Retail-Pad
Status: Pending/Contingent
Gross Land Area: 22.25 Acres
Sale Price: $3,671,125
Unit Price: $164,994 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/19/2022

Overview / Comments

22.5 acres of undeveloped land in between Alcoa Highway and Pellissippi Parkway (I-140). This site provides easy access to Alcoa, Maryville, McGhee Tyson Airport, Oak Ridge, Farragut, and Downtown Knoxville. The property is in the urban growth boundary for the City of Alcoa. If annexed, all schools would be in the City of Alcoa system. The area labeled "Suburbanizing" (approximately 13.29 acres) could be rezoned to "Residence District "B" and the area labeled "Retail General Business could be rezoned to "General Business District "E"."
Residence District "B" is well suited for multi-family and allows for 2,500 sf per unit (approximately 17 units/acre). General Business District "E" allows for retail, professional services, hospitality, and a wide range of other uses. Under Uses Permitted as a Special Exception, General Business District "E", could also accommodate multi-family development at 2,000 sf per unit (approximately 21 units/acre.

Highlights:
Lays well
Looking towards the Great Smoky Mountains
Easy access to major employment centers
All utilities at road*
Located in Qualified Opportunity Zone

*Three-phase electric is across the street at the church.
Sewer would need to be upgraded and the distance to connect to 6" line is +/- 1,400'.

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 005008 09907
Zoning: SUBURBANIZING
Property Visibility: Excellent
Largest Nearby Street: Topside Road
Feet of Frontage: 868
Traffic/Vehicle Count: 13,930
Highway Access: In between Alcoa Highway and Pellissippi Parkway
Airports: Less than ten minutes to McGhee Tyson Airport
Site Description: 1528 Topside is located in between Alcoa Highway (Hwy 129) and Pellissippi Parkway (I-140). The property offers excellent access to Downtown Knoxville, West Knoxville, Oak Ridge and Blount County.
Lot Frontage: 868
Lot Depth: 13930
Zoning Description: be in the City of Alcoa system. The area labeled "Suburbanizing" (approximately 13.29 acres) could be rezoned to "Residence District "B" and the area labeled "Retail General Business could be rezoned to "General Business District "E"." Residence District "B" is well suited for multi-family and allows for 2,500 sf per unit (approximately 17 units/acre). General Business District "E" allows for retail, professional services, hospitality, and a wide range of other uses. Under Uses Permitted as a Special Exception, General Business District "E", could also accommodate multi-family development at 2,000 sf per unit (approximately 21 units/acre.
Topography: Rolling
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,381 14,228 63,831
Median Age: 45.84 41.8 40.93
Households: 612 6,091 27,743

Contact

Photograph of Listing Agent

Brian H. Tapp, SIOR, CCIM

Avison Young KAAR CIE Member
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