Catylist ID:
#30733463
| 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: | 5/18/2022 |
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 |
Attachments & Media
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 |
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 |
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