8.8 Acres Multifamily or Residential Development Land

Vacant Land for Sale
Catylist Listing ID: 30247112
Property Subtypes: Multi-Family, Residential (Single Family)
Gross Land Area: 8.80 Acres
Sale Price: $100,000 Per Acre
Total Price: $880,000
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/28/2018

Overview / Comments

Great Site for: Multifamily, Senior Living, Assisted Living, Condo/PUD

Maps As: 3300 Bakertown Rd, Knoxville, TN 37931
Lat/Lon 35.968811 -84.081145

Unincorporated Knox County (No City Tax).

The parcel is centered on the extension of Schaad Rd. Schaad Rd will eventually connect Clinton hwy and Middlebrook Pike. Phase 2 will be completed in approx. 18 months and phase 3 will follow.

Subject:
* Is part of a development planned for retail on both sides of the Schaad Road extension.
* Is the southern portion of Parcel ID: 091 25604.
* Starts about 560' south of new Schaad Rd Extension. Has about 645' of frontage on the northeast side of Bakertown Rd
*Property is gently sloping pasture with no flood zone.

Zoned County PR (Planned Residential). The PR Zone directly allows: Detached & Attached homes (not including mobile homes), Duplexes, Multi-family developments (up to 24 units/acre, however, we expect approval for about 9-10 units/acre). Permits Assisted Living under Use on Review.

MPC currently notes the property as 1-4 DU/Ac (Dwelling Units/Acre) however we have advised that excess density from the rest of the development south of Ball Camp Pike can be used on the subject site resulting in our opinion that there is a potential of 80+ units.

All Utilities in the area. See Documents and our Offering Memorandum for Utility Maps.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 091 25604
Zoning: PR
Largest Nearby Street: Bakertown Rd
Feet of Frontage: 645
Airports: TYS
Lot Frontage: 645
Zoning Description: Residential areas thus established would be characterized by a unified building and site development program, open space for recreation and provision for commercial, religious, educational, and cultural facilities which are integrated with the total project by unified architectural and open space treatment.
Topography: Level

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,150 53,791 129,387
Median Age: 39.35 36.45 37.35
Households: 810 22,556 55,039
The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.