193 +/- Acres on New Highway 68 - Close to Madisonville/Highway 411

Vacant Land for Sale
Sale Pending/Contingent
Also listed as Industrial, Multi-Family
Catylist Listing ID: 29971278
Property Subtypes: Agricultural, Hospitality, Industrial, Mobile Home Park, Multi-Family, Office, Residential (Single Family), Retail
Status: Pending/Contingent
Gross Land Area: 193 Acres
Sale Price: $999,999
Unit Price: $5,181 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/18/2021

Overview / Comments

Incredible location, county taxes and no zoning. 193 +/- acres located in Monroe County, less than 1 mile to the city of Madisonville and Highway 411. Acreage is split on both sides of New Highway 68, 53 acres on one side and 140 acres on the other, acreage is approximate, there is no survey. A brick home built around 1900 that needs a ground up restoration or scrape, old barn and outbuildings. Small creek, two small farmer's ponds and a small TVA easement on the 53-acre side. Property is in greenbelt.

The 140-acre side has 4 large clearings with the rest being wooded. There is a small “Farm” lease active that contains a 90-day out or right to harvest clause that would, if wanted, remove the tenant. TVA has an easement on the 411 side of the property.

Uses could be endless with this large acreage tract holding some timber, proximity to I-75, Highway 11, Highway 411 and thousands of feet of road frontage on both sides of the road.

Property can be purchased separately:
53-acre side - $395,000.00. Property can possibly be split.

140-acre side - $700,000.00. This side is divisible into tracts that would run from the highway straight back to the rear property line. Property can possibly be split.

All information within deemed reliable but not guaranteed, buyer will need to verify information.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $1,198 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Monroe
Tax ID/APN: 067 032.00
Zoning: NA
Site Description: A few old structures are on the property.
Area Description: Take US Hwy 411 S to New Hwy 68, then west one mile.
Topography: Rolling

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 6,081 15,243
Median Age: 39.33 40.42
Households: 2,434 5,978

Contact

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