Catylist ID:
#30722466
Multifamily Land Near I-640 & Amazon Delivery Station
Vacant Land
for Sale
| Catylist Listing ID: | 30722466 |
| Property Subtypes: | Multi-Family, Office, Residential (Single Family) |
| Gross Land Area: | 1.53 Acres |
| Sale Price: | $400,000 |
| Unit Price: | $261,437 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/8/2021 |
Overview / Comments
|
Develop up to 20 multifamily units on this 1.53-acre lot under its current zoning. Great location in east Knoxville near the new Amazon delivery station (to open in 2022) and the I-40 interchange. All municipal utilities are on the property. See the concept plan showing three new 6-unit, common wall buildings and the existing house to be converted into a duplex. Download our OM using the link. Property is in the City limits and located at the corner of Nokomis Drive on the north side of Asheville Highway (US 25W/11E) between Chilhowee Intermediate School and Interstate 40. It is less than 900' from the full interchange (Exit #394) for fast commuting times. The roughly rectangular lot has has a gentle slope and approx. 274 feet of frontage on Asheville Highway. The lot has a number of mature pine trees and one large red cedar tree; it gently slopes up from the street front affording high visibility to a future development. The property is improved with a 1950-vintage house with an attached 1-car garage which would need to be converted into a duplex due to zoning. Neighborhood amenities include grocery stores, banks, drugstores, quick service restaurants, auto parts stores, convenience stores, child care and auto repair shops and easy interstate access. |
Attachments & Media
Additional Details
| Nearest MSA: | Knoxville |
| County: | Knox |
| Taxing Authority: | Knoxville/Knox County |
| Tax ID/APN: | 071JF028 |
| Zoning: | O |
| Property Located Between: | Chilhowee Dr & I-40 |
| Property Visibility: | Excellent |
| Feet of Frontage: | 274 |
| Highway Access: | <900' from I-40 exit 397 interchange |
| Lot Frontage: | 274' - 386' |
| Lot Depth: | 203' |
| Zoning Description: | Zoning of O – Office calls for low-intensity office and service uses but will also allow development of up to eighteen townhouse apartments and conversion of the house into a duplex for twenty rental units total. |
| Topography: | Gently Sloping |
| Available Utilities: | Electric, Water, Gas, Sewer, Cable, Broadband, Internet Access |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 3,694 | 28,378 | 98,325 |
| Median Age: | 45.63 | 41.19 | 36.76 |
| Households: | 1,645 | 12,332 | 40,077 |
Contact
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