South Knoxville Opportunity Zone Development Site
South Knoxville Opportunity Zone Development Site
Investment highlights
Large-Scale Development Opportunity – ±5 acre redevelopment site positioned along the rapidly growing Alcoa Highway corridor in South Knoxville.
200+ Unit Multifamily Development Potential – Preliminary planning indicates the site could support 200+ multifamily units with surface parking, providing meaningful scale in a supply-constrained market.
Opportunity Zone Investment – Located within a designated Opportunity Zone, allowing investors to potentially benefit from capital gains deferral and tax advantages through a Qualified Opportunity Fund.
Strong Visibility & Access – Direct access to Alcoa Highway (US-129) with traffic counts exceeding 56,000 vehicles per day, one of Knoxville’s primary regional corridors.
Existing Improvements Provide Flexibility – Site currently includes a 28,629 SF retail center and a 4,680 SF warehouse, which could provide interim use or be repositioned while planning redevelopment.
Strategic Employment Location – Located minutes from Downtown Knoxville, the University of Tennessee, McGhee Tyson Airport, and the Amazon Fulfillment Center, providing strong employment drivers for future residents.
Major Infrastructure Investment Corridor – Ongoing Alcoa Highway modernization project is improving traffic flow, safety, and connectivity between Knoxville and McGhee Tyson Airport.
Proven Multifamily Market – Surrounding submarkets continue to see strong rent growth and new development activity, supported by Knoxville’s population growth and expanding employment base.
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