11.5 Acre Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 2126341
Property Subtypes: Hospitality, Mobile Home Park, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 11.50 Acres
Sale Price: $1,450,000
Unit Price: $126,086 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/29/2017

Overview / Comments

Recent price change is to include garage fronting E. Broadway Ave. Actual price reduction overall! Lease income from the car wash, laundromat, and MHP will help pay for a large portion of debt service!

This is the LARGEST tract of land on East Broadway! Excellent opportunity to develop into 2 commercial 2.5 acre tracts and a 6 acre residential development. County has budgeted to improve intersection within a year.

Ability to create access roads at signaled light on East Broadway (front) and along residential tract in rear. Existing commercial use is car wash, laundromat, and MHP. Future use could be strip centers, affordable housing, church, self storage, pharmacy, restaurants, etc. etc. etc. Property is located directly across from Eagleton ball fields. Approximately 1 mile from Pellissippi Place R&D center and Sierra Nevada survey site.

Build on the 2.5 acres fronting East Broadway, let the current business pay for some of the mortgage, and hold the back 6.5 residentiall acres for development or selling later!

Also, see garage listing adjacent to this property. Owner willing to give a "seriously good deal" so you'll have road frontage directly on Broadway!

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 037G C 040.00
Market Type: Medium
Property Located Between: Richy Kreme Donuts and Advanced Auto Parts
Property Visibility: Excellent

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,935 32,765 65,886
Median Age: 36.35 39.24 40.1
Households: 2,913 13,189 26,960


Photograph of Listing Agent

Daniel Monat

LeConte Realty, LLC KAAR CIE Member
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