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N Hwy 72
Loudon, TN 37774
Land For Sale
·
24.54 AC
Investment Highlights
- Zoned for Multi and Single Family Residential Development
- Growing Intersection, Potential Redlight & PILOT Tax Incentives Available
- Potential for Multiple Access Points off Hwy 72
Executive Summary
See other listing for approximately 6 acres of frontage on this parcel. Rear acreage is zoned R-3 Urban Residential District in the City of Loudon. R-3 zoning allows for single family and multifamily dwellings. Great opportunity for a developer to create a mixed use development with grocery/retail in the front and residential in the back or purchase this site individually while owner identifies a retail user for the frontage. Located only .25 miles from I-75, the parcel spans 968 feet on Hwy-72 and has 276 feet of frontage on Cedar Park Drive. Developer could extend the road from Centre Park Drive on the opposite side of Hwy-72 to provide access to the rear acreage for multiple points of access. City red-light and tax incentives may also be available. There are a variety of fast food restaurants, hotels, and a single family residential development nearby with home prices in the mid to upper $300,000s. Zoned for Loudon County High School.
Property Facts Under Contract
| Sale Type | Investment or Owner User | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | |
| Property Type | Land | Total Lot Size | 24.54 AC |
| Zoning | R-3 (Urban Residential) - Residential | ||
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 24.54 AC |
| Zoning | R-3 (Urban Residential) - Residential |
1 Lot Available
Lot
| Price | $1,840,500 | Lot Size | 24.54 AC |
| Price Per AC | $75,000.00 |
| Price | $1,840,500 |
| Price Per AC | $75,000.00 |
| Lot Size | 24.54 AC |
Consists of two parcels: 019 088.00 of 1.80 acres and 040 085.01 of 22.74 acres.
Description
Property is located immediately off Exit 72 of I-75 with traffic counts of 45,000 vehicles per day on I-75 and 12,168 vehicles per day on Hwy 72 N at Queener Rd. Headed southbound on I-75, take exit 72 for TN-72, turn left onto TN-72-E/Loudon Hwy. Property will be on your left in approx. 0.5 miles. As growth continues to expand in Loudon County down the I-75 corridor, Exit 72 is the next major exit for development past the I-75/Hwy 321 Interchange in Lenoir City.
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