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N Riverside Drive 5 Acres of Commercial Land Offered at $4,000,000 in Clarksville, TN 37040
Investment Highlights
- Incredible Views of The Cumberland River/Downtown Clarksville
- EDC Working To Secure Access Easement
- Located on the Clarksville Greenway/Playground Adjacent
Executive Summary
The following items are required before the City of Clarksville can proceed with a land transaction:
Affordable Housing Requirement:
At least 20% of units must be rented annually at 80% of the Area Median Income (AMI). For example, in 2025 these units would rent for $1,796 per month. Rental rates may increase only in accordance with HUD guidelines. An annual report detailing rental rates for the 20% set-aside units must be submitted to the Director of Clarksville Neighborhood & Community Services.
Regulatory Compliance:
All building permits must comply with NFIP standards and the City of Clarksville’s regulations.
Site Access:
The EDC is working to secure access to the site. It may also be possible to utilize portions of the 2 Rivers Mall parking area to maximize developable acreage.
Affordable Housing Requirement:
At least 20% of units must be rented annually at 80% of the Area Median Income (AMI). For example, in 2025 these units would rent for $1,796 per month. Rental rates may increase only in accordance with HUD guidelines. An annual report detailing rental rates for the 20% set-aside units must be submitted to the Director of Clarksville Neighborhood & Community Services.
Regulatory Compliance:
All building permits must comply with NFIP standards and the City of Clarksville’s regulations.
Site Access:
The EDC is working to secure access to the site. It may also be possible to utilize portions of the 2 Rivers Mall parking area to maximize developable acreage.
Property Facts
| Price | $4,000,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 5.00 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | C-2 - Commercial zoning that will also accommodate multifamily in the near future. | ||
| Price | $4,000,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 5.00 AC |
| Opportunity Zone |
Yes |
| Zoning | C-2 - Commercial zoning that will also accommodate multifamily in the near future. |
1 Lot Available
Lot
| Price | $4,000,000 | Lot Size | 5.00 AC |
| Price Per AC | $800,000.00 |
| Price | $4,000,000 |
| Price Per AC | $800,000.00 |
| Lot Size | 5.00 AC |
Clarksville offers a prime Cumberland River pad site for the right multifamily project. The City and EDC are securing an access easement via 2 Rivers Mall. The property sits on the Clarksville Greenway adjacent playground.
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Property Taxes
| Parcel Number | 055O-B-014.00 | Improvements Assessment | $154,800 |
| Land Assessment | $2,124,000 | Total Assessment | $2,278,800 |
Property Taxes
Parcel Number
055O-B-014.00
Land Assessment
$2,124,000
Improvements Assessment
$154,800
Total Assessment
$2,278,800
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N Riverside Drive
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