19.5 Acres of Commercial Land in Harrogate, TN

Vacant Land for Sale
Catylist Listing ID: 30667629
Property Subtypes: Agricultural, Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail, Self Storage, Vacation/Resort, Other
Gross Land Area: 19.50 Acres
Sale Price: $9,500,000
Unit Price: $487,179 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/11/2021

Overview / Comments

The land is designated as a Premier Resort location by the state of Tennessee (see TN Code Annotated section 57-4-102(26)), even if subdivided. Harrogate, TN is home to Lincoln Memorial University, a private university that is home to the DeBusk College of Osteopathic Medicine and the Caylor School of Nursing. Voted one of the safest college campuses in America, LMU's growth and success over the years has created the need for more businesses in this magnificent, mountainous area. Rural city property yet centrally located less than 2 hours from Lexington, KY to the north and Knoxville, TN to the south. This scenic commercial property is within minutes from the Cumberland Gap National Historic Park, Wilderness Road State Park in Virginia and Pine Mountain State Park in Kentucky. All of these locations offer the best of hiking, camping, and vacation destinations that bring in visitors from all states. The history and beauty of the area competes with any major premier resort town! This land is pristine and just waiting for that unique buyer with the vision to capitalize on the need for motels, hotels, recreation, entertainment or shopping.

Additional Details

Nearest MSA: Knoxville
County: Claiborne
Tax ID/APN: 013029G A 00100
Property Visibility: Excellent
Feet of Frontage: 1,220
Highway Access: Fronts on US Hwy 25 (Cumberland Gap Parkway)
Zoning Description: The land is designated as a Premier Resort location by the state of Tennessee (see TN Code Annotated section 57-4-102(26))
Topography: Level
Available Utilities: Electric, Water, Sewer, Cable
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,265 17,465
Median Age: 42.03 40.16
Households: 2,188 7,139


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