Maynardville Pike Multi-Family Appropriate Land
Land | 15.15 acres
Marketing description
A 15.15 acres property consisting of 4 parcels (6604, 6608, 6610 & 6614 Maynardville Pike). Approximately 5 acres zoned CA with approximately 734 feet of Maynardville Hwy (US 441) frontage. Above the road frontage, the remaining approximately 10.15 acres is zoned RB & A.
Property is especially suited for multi-family development. Appropriately zoned land in the Knoxville market is increasingly difficult to find.
The surrounding Halls and Fountain City area are an underserved multi-family market. Occupancy in dated rental properties remains high for lack of new supply. The site is a 19-minute commute to the Knoxville Central Business District and The University of Tennessee campus,10.5 miles. Retail services, restaurants and entertainment at the entrance to the property.
Credit: NeighborhoodScout
The average rental price in Halls is currently $2,258, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.9% of the neighborhoods in Tennessee. Home and apartment vacancy rates are 7.4% in Halls. NeighborhoodScout analysis shows that this rate is lower than 53.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
Credit: Halls Crossroads Business and Professional Association
Halls Crossroads is an unincorporated area in North Knox County, immediately north of the city limits of Knoxville, TN (population approximately 17,884 residents).
The Halls community is served by six public Knox County schools, i.e., Adrian Burnett Elementary, Brickey McCloud Elementary, Copper Ridge Elementary, Halls Elementary, Halls Middle and Halls High.
Investment highlights
15.15 acres (approximately) of multi-family appropriate land, part of which is already zoned for commercial use. On-site visits are encouraged as photos do not do justice to the beauty of the property.
The Knoxville area multi-family is significantly underserved. Occupancy and rental rates are rising substantially. According to the East Tennessee Realtors June 2023 Market Pulse Newsletter, “Apartment rents in Knoxville were up 9.2% from the previous year in May 2023, compared to 2.3% growth nationally."
Fronts US Hwy 441, a main commuter route to Knoxville Central Business District. This fact suggests it may qualify as a transit-based development in any quest for rezoning. All utilities at the site.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
