Catylist ID:
#30651305
| Catylist Listing ID: | 30651305 |
| Property Subtypes: | Office, Residential (Single Family), Retail, Self Storage |
| Gross Land Area: | 28.86 Acres |
| Sale Price: | $1,500,000 |
| Unit Price: | $51,975 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 1/14/2021 |
Overview / Comments
|
The tract has potential for a multifamily development up to 250+ units, with optional commercial on the Hwy frontage. Multifamily use would require rezoning. City water is on the property (8" main), Electricity is across the highway. Sewer is approx. 4,300' north of Subject and could be connected if subject is annexed into the city. A contract contingent on annexation and sewer will be seriously considered by the seller. The location is convenient to employment opportunities in Jefferson City, the Sevierville/Pigeon Forge, Gatlinburg markets and Greater Knoxville. Both the city and interstate are only 4 minutes away. Property is almost twenty-seven acres on Tennessee 92, a divided four-lane highway, midway between Interstate 40 Exit 417 and Jefferson City, home of Carson Newman University. Located adjacent to Holy Trinity Catholic Church and just north of Patriot Hills Golf Club and the higher-end subdivision development around it. Almost the entire parcel is heavily wooded, and elevation rises from the front to the rear providing excellent visibility from the highway. Owner has had some trails cut and clearings made for walking the tract. The offered tract consists of two adjoining parcels and has 249 feet of highway frontage. Property is in unincorporated Jefferson County. Jefferson City has indicated an interest in annexing the property which would allow a sewer connection at developer’s expense. Seller is open to a contract subject to the required rezoning. Current county zoning: Front 100’ is zoned C-1, rear acreage is zoned A-1. Any rezoning must be submitted to the City of Jefferson City Planning Commission, as it is within their planning district. As currently zoned, rear acreage can be used for estate-sized, single family homes. |
Additional Details
| Nearest MSA: | Morristown |
| County: | Jefferson |
| Taxing Authority: | Jefferson County |
| Tax ID/APN: | 045046 00104 |
| Zoning: | A-1/C-1 |
| Property Located Between: | Jefferson City & I-81 |
| Property Visibility: | Excellent |
| Legal Description: | Tax Parcel IDs: 046 001.04; 046 002.01 |
| Largest Nearby Street: | TN-92 |
| Feet of Frontage: | 249 |
| Traffic/Vehicle Count: | 14,372 |
| Highway Access: | TN-92 |
| Site Description: | Gradual uphill slope |
| Area Description: | Located just outside Jefferson City |
| Lot Frontage: | 249 |
| Available Utilities: | Electric, Water, Gas, Sewer |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 6,775 | 24,587 |
| Median Age: | 40.48 | 38.5 |
| Households: | 2,692 | 9,178 |
Contact
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