Fountain City Development Opportunity

Vacant Land for Sale
Also listed as Office, Retail-Commercial
Catylist Listing ID: 30397687
Property Subtypes: Office
Gross Land Area: 0.78 Acres
Sale Price: $795,000
Unit Price: $1,019,230 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/12/2019

Overview / Comments

Highly sought-after Fountain City location! Fountain City is a highly desirable location for residential and business development due to its proximity to I-640-, I-40, I-75 interchanges, food options and beautiful historic character of nearby homes. It has developed fast, and this is currently one of very few non-developed N Broadway frontage pieces of real estate available. According to TDOT, traffic counts on N Broadway were over 49,000 in 2017! Property will need to be rezoned for a commercial use, and office is believed to be the highest zoning possibly supported by MPC. Contact Listing Agent for more details regarding zoning.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,321 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 058EJ012
Zoning: R-1
Area Description: I-40 E/I-75 N - Use the right 2 lanes to take Exit 385 for Interstate 75 N/Interstate 640 E toward Lexington. Continue onto I-640 E. Use the right 2 lanes to take Exit 6 for Old Broadway/US-441 toward Broadway. Follow US-441 N/N Broadway to Gibbs Dr. Use any lane to turn left onto US-441 N/N Broadway. Property will be on the right after First Watch and American Family Urgent Care.
Topography: Hilly

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,918 67,720 146,453
Median Age: 40.68 38.6 37.3
Households: 2,797 29,719 62,648
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