Morristown Development Land - 28 acres

Vacant Land for Sale
Catylist Listing ID: 30856205
Property Subtypes: Hospitality, Industrial, Multi-Family, Residential (Single Family), Self Storage, Other
Gross Land Area: 28.42 Acres
Sale Price: $70,000 Per Acre
Total Price: $1,989,400
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/4/2023

Overview / Comments

Located in the growing West Morristown submarket just 2 minutes from Andrew Johnson Highway, this site is in an ideal location for development of market rent multifamily, 55 and over housing, senior living, affordable housing or any number of other beneficial uses.

Property is subject to annexation into the City of Morristown for water/sewer and rezoning for purchaser's desired use.

Additional Details

Nearest MSA: Morristown
County: Hamblen
Tax ID/APN: 03204805503
Property Visibility: Good
Feet of Frontage: 2,552
Zoning Description: Currently zoned agricultural. Property will require annexation into the City of Morristown for water/sewer and rezoning to purchasers desired use.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 17,012 45,468
Median Age: 40.36 38.96
Households: 6,617 17,717


Photograph of Listing Agent

Heidi C. Adams, CCIM

NAI Koella | RM Moore ETNRCRE Member
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