Residential Redevelopment Opportunity

Vacant Land for Sale
Also listed as Multi-Family
Catylist Listing ID: 30365080
Property Subtypes: Multi-Family, Residential (Single Family)
Gross Land Area: 0.69 Acres
Sale Price: $138,000
Unit Price: $200,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/24/2019

Overview / Comments

.69 acres available for redevelopment. Property is zoned R-2 and, MPC has indicated it could support up to 12 units.

The property could also be great for single family homes along Boright Dr similar to what is in the neighborhood and do a major remodel on the existing home for an opportunity of multiple home sales.

Boright Park is approximately 100 ft away. This park is uniquely situated in the median strip of this quiet North Knoxville neighborhood. Lined with trees and has a paved sidewalk looping the park.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $529.57 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 070IE002
Zoning: R-2
Area Description: Via I-40 E - Follow I-40 E to Hall of Fame Dr. Take Exit 389 from I-40 E. Follow Hall of Fame Dr, Cecil Ave and Whittle Springs Rd to McNutt St. Property is at the corner of McNutt and Boright. Via I-40 W -Head southwest on I-40 W. Take Exit 390 for Cherry St and turn right onto N Cherry St, left onto Cecil Ave, right onto Whittle Springs Rd and then turn right onto Boright Dr. Property is at the corner of McNutt and Boright.
Topography: Rolling

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,915 74,286 158,076
Median Age: 40.45 36.95 35.31
Households: 4,771 33,297 66,254
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS┬« nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.