Commercial, Office, Residential and Multi-Family Vacant Land

Vacant Land for Sale
Catylist Listing ID: 30327300
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Other
Gross Land Area: 68.31 Acres
Sale Price: $12,500,000
Unit Price: $182,989 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/25/2019

Overview / Comments

Over 68 prime acres of undeveloped acreage in Farragut with Kingston Pike frontage is now available. Located in the very center and heart of the Town of Farragut adjacent to the Farragut Town Hall, this property offers the best zoning options and location for exceptional exposure. The unique value of physical size, location, topographical elements, historical and cultural qualities is a "One of a Kind Development Opportunity".

Property is being offered for $12,500,000. making it an exceptional value. It is ready for a new owner/developer to take advantage of all the existing Commercial, Office and Residential zoning options available. Scroll down to copy link for the Town of Farragut Comprehensive Land Use Plan regarding very flexible development options of this property.

A portion of the 68 acres falls within the Town Center District Overlay area which allows for Mixed-Use options (with buildings up to 4 stories), including residential, office, restaurants and retail within the same structures allowing for a LIVE, WORK, SHOP, PLAY and DINE environment. Other development options include multi-family, apartments, senior living facilities, condos and townhomes.

An entire Mixed Use Town Center project called "Downtown Farragut" has been designed and previously submitted to the Town of Farragut for a portion of the property. This proposed project with very detailed plans are available to any developer who wishes to utilize them but is not required.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: PIN 142 148
Market Type: Medium
Property Located Between: Kingston Pike and Campbell Station Road
Side of Street: South
Road Type: Paved, Highway
Property Visibility: Excellent
Legal Description: Full Legal Description Available upon request.
Largest Nearby Street: Kingston Pike
Feet of Frontage: 766
Traffic/Vehicle Count: 20,000
Transportation: Highway
Highway Access: Property is located on a 5-lane State Highway (Kingston Pike) within approx 1/8 mile of the intersection of Campbell Station Road which is the main artery/corridor into the Town of Farragut from Interstate 40. Distance to I-40 from the property is approx 1-1/2 miles. There are numerous other convenient roads leading into the center of the Town and to the property..
Airports: McGhee Tyson
Site Description: The 68.31 acre site is located in the Heart of The Town of Farragut adjacent to the Farragut Town Hall and Post Office on the East side and Kohl's Shopping Center on the West side. Village Green Shopping Center with it's popular shops is located directly across Kingston Pike to the North. Approximately 3/4 or 40-50 acres of the property is level to gently rolling and cleared with approximately 1/4 of the property wooded. The existing home place which is still occupied is over 2700 square feet and a large barn is used for storage. The area is very pedestrian oriented with sidewalks across the front of the property. Farragut Schools are also within walking distance as are numerous places of worship, shopping, restaurants, etc. A new Civic Center is also within walking distance.
Area Description: The Town of Farragut, incorporated in 1980 with a political structure of a Board of Mayor and Alderman, is an affluent bedroom community of Knoxville, Tennessee that is centrally located at the junction of 1-40/I-75, two important transportation corridors. Being in close proximity to US Department of Energy Oak Ridge Facilities (including the Oak Ridge National Laboratory and Y-12 National Security Complex), The University of Tennessee, Alcoa Aluminum Corporation of America and headquarters of the electric energy provider Tennessee Valley Authority (TVA) makes this an important and viable area for job creation and economic growth. Farragut is blessed with exceptional schools that have received the Blue Ribbon status. Surrounded by lakes and rivers and at the Foothills of the Great Smoky Mountains, The Town of Farragut truly typifies the beauty and charm of East Tennessee and provides an exceptional quality of life. These are main factors for families moving to the area. The property is surrounded by upper scale residential neighborhoods and is convenient to employment centers, schools and commercial outlets.
Lot Frontage: 795.98
Lot Depth: 3905.55
Zoning Description: Property is currently zoned for C-1 (Commercial), O-1 (Office), B-1 (Buffer) and R-1/R-2 (Residential). A Town Center District Overlay exists that provides options for a larger portion of the property to be developed into a Mixed-Use development with Retail, Office and Residential and up to 4 story buildings.
Development Name: Farragut Commercial Undeveloped Acreage
Topography: Rolling
Easements: Pipelines, Electric Lines, Utilities, Other
Easements Description: Typical utility easements. See Map for more information.
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Storm Drain, Cable, Broadband, Other
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,738 33,674 85,010
Median Age: 48.6 43.23 41.27
Households: 1,923 13,124 33,247


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