96 Unit BFR Development

Vacant Land for Sale
Catylist Listing ID: 30811911
Property Subtypes: Multi-Family, Residential (Single Family)
Gross Land Area: 25 Acres
Sale Price: $2,850,000
Unit Price: $114,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/1/2022

Overview / Comments

SVN | Wood Properties is pleased to exclusively present this shovel ready, fully approved build for rent community. The site is approved for 91 townhouse style units, which is a product that is high in demand in the Knoxville market. Included in the sale are an additional 5 lots that are approved for 5 SFRs. The site is fully entitled and a buyer can expect to be able to start moving dirt immediately after closing. All plans are included in the sale of the property.

This development opportunity is ideally located in booming South Knoxville, just minutes from Downtown Knoxville and the University of Tennessee. Just 3 minutes away, Covenant Health is building a $20M medical center. Knoxville has seen record rent growth over the last two years due to a severe lack of housing on the market. Depending on final finishes, rent estimates are between $1950-$2400. The property is just outside of the Knoxville city limits.

-Fully approved for 91 units + 5 lots approved for 5 SFRs - shovel ready and can break immediately
-Located in booming South Knoxville, just 7.8 miles from Downtown
-Average home value within 1 Sq Mile is $485,937

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 137 331
Zoning: PR
Property Visibility: Excellent
Topography: Gently Sloping
Available Utilities: Electric, Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 13,856 51,249
Median Age: 42.31 38.5
Households: 5,760 21,780

Contact

Photograph of Listing Agent

Cohl Morgan

SVN I Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
NETAR CMLS Member
Photograph of Listing Agent

Jon Roosen

SVN l Wood Properties
Not a member of NETAR CMLS
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