Multi-Family/BFR Zoned Acreage in Knox County
Vacant Land
for Sale
| Catylist Listing ID: |
30818821 |
| Property Subtypes: |
Multi-Family, Residential (Single Family), Other
|
| Gross Land Area: |
43.29 Acres
|
| Sale Price: |
$2,995,000 |
| Unit Price: |
$69,184 Per Acre |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
12/8/2023 |
Overview / Comments
SVN | Wood Properties is pleased to exclusively present this residentially zoned, strategically located multi-family or build-for-rent acreage in East Knoxville (outside the City limits). The flexible Planned Residential ("PR") zoning allows for many uses including multi-family apartments, build-for-rent communities, single-family detached for sale communities, as well as townhome developments. In fact, the site is approved for 12 units per acre, yielding over 500 units, in a Knoxville submarket that has seen rapid commercial and residential growth over the past several years. In addition, the parcel has been partially mass graded, further improving its topography and overall develop-ability, and has all municipal utilities available on-site.
The property is conveniently located within the rapidly-growing East Knoxville/Strawberry Plains submarket, with I-40 being less than two miles miles south of the site and four miles west of the site. Food City is directly across the street, as is Brakebill Road, which leads to multiple restaurants, retailers, healthcare providers, and schools, among other area amenities.
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Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Taxing Authority: |
Knox County |
| Tax ID/APN: |
061 071 |
| Zoning: |
PR 12 DU/AC |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Asheville Highway |
| Available Utilities: |
Electric, Water, Gas, Sewer, Cable |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,695 |
9,347 |
31,981 |
| Median Age: |
38.97 |
42.69 |
41.6 |
| Households: |
708 |
3,764 |
12,732 |
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