Apartment site 31.78 acres Athens TN

Vacant Land for Sale
Catylist Listing ID: 30733463
Property Subtypes: Hospitality, Multi-Family, Office, Retail-Pad, Other
Gross Land Area: 31.78 Acres
Sale Price: $1,999,999
Unit Price: $62,932 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/14/2021

Overview / Comments

31.78 acres which is prime for an excellent multifamily Development Opportunity! It is located adjacent to a Super Walmart in Athens TN and can be subdivided. The city of Athens has conducted a professional multifamily Market Study which is attached. Numerous retail, banking, public parks, service, medical, etc. available within the near by area.
Brief bullets:
43.9% of McMinn Co employees reside outside of McMinn Co.
Occupancy in McMinn Co is 95.5% and 98.8 within Athens, TN
There is limited housing currently and has dated inventory
The governmental agency would consider Tax Incentive Financing (TIF)
McMinn Co ranks higher than the State/Nation in manufacturing wages
There is potential to "partner" with local employers for master leases for units

Additional Details

Nearest MSA: Athens
County: McMinn
Tax ID/APN: 056 135.01 000
Property Located Between: Congress Parkway, Dennis Street, and Lee Highway
Property Visibility: Excellent
Largest Nearby Street: Congress Parkway
Feet of Frontage: 924
Site Description: Easy rolling
Lot Frontage: 924 feet
Lot Depth: 1044 feet
Topography: Gently Sloping
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,156 12,895 26,625
Median Age: 43.33 38.98 40.5
Households: 433 5,421 10,716

Contact

Photograph of Listing Agent

William B Raines Jr.

The Raines Group, Inc. Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Richard J Howard

The Raines Group, Inc. Greater Chattanooga REALTORS® Member
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