Approx 56 AC plus Approx 80 Residential Lots - Lenoir City

Vacant Land for Sale
Catylist Listing ID: 30666111
Property Subtypes: Residential (Single Family)
Gross Land Area: 74 Acres
Sale Price: $699,000
Unit Price: $9,445 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/15/2021

Overview / Comments

Approximately 56 acres on Old Highway 95 and about 80 platted residential lots on or with access to W 8th Ave, W 9th Ave and W 10th Ave. Some of the streets are not finished, but the right-of-way (R.O.W.) exist. A City official has said that even though the new subdivision standards for Lenoir City call for a minimum width of 75' for residential lots, these 50' wide lots are already plated so they would be approved as a non-conforming use. Our understanding is that there is a need for "starter homes" in Lenoir City so this could be a great opportunity for a developer to fill this need. Total acreage is about 74 acres. Buyer must confirm the size and usability of this property.

Additional Details

Nearest MSA: Knoxville
County: Loudon
Tax ID/APN: 020FA001.00
Site Description: Next to and within the downtown area of Lenoir City.
Area Description: Highway 11 (E Broadway St) to Kingston St, continue onto Kingston St to access lots on W 9th Street, W 8th Street and W 10th St. Continue onto Kingston St which becomes Old Highway 95 to the 56+/- acres on the left at the Lenoir City ball fields.
Topography: Gently Sloping

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,604 14,876 37,665
Median Age: 32.86 37.29 43.96
Households: 2,944 5,750 15,033

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