Prime Location 1.5 Acre Parcel - MU Zoning

Vacant Land for Sale
Catylist Listing ID: 30811147
Property Subtypes: Multi-Family
Gross Land Area: 1.50 Acres
Sale Price: $395,000
Unit Price: $263,333 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/18/2022

Overview / Comments

Fantastic development opportunity next to the historic Cherokee Mills office building in the Sutherland/Bearden area. Convenience to parks, greenway, dining, retail, banks and hospitals. Easy access interstates, main throughways to UT campus and downtown Knoxville. The entire property has been approved (first reading) for I-MU zoning. Zoning will be finalized by end of of July. There are 2 preliminary schemes for how multi units might layout. One allows for 45 units with surface parking and the second is for 22 townhomes with parking underneath.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: City of Knoxville
Tax ID/APN: 108BA025
Property Visibility: Excellent
Legal Description: Dimensions 92.06 X 188.99 X Irr Lowlot 1 Subdivision name Cherokee Taylor Hall Plat number 201908280014650 Map plat b 20190828 Map plat p 0014650
Largest Nearby Street: Sutherland Ave
Highway Access: .8 miles to 129, with easy access to 1-40
Topography: Level
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,400 74,363 165,434
Median Age: 26.7 30.8 34.82
Households: 3,069 30,095 70,445

Contact

Photograph of Listing Agent

John M Adams III, CCIM SIOR

CBRE, Inc. KAAR CIE Member
Photograph of Listing Agent

Andrew Wilmoth, CCIM

CBRE, Inc. KAAR CIE Member
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