Morristown, TN 37814
sale
$2,500,000
|
Other
Courtesy Of CRYE LEIKE LAKEWAY REAL ESTATE
Beautiful +/-23-acre development opportunity in a prime location adjoining the prestigious Lochmere community. These three adjoining tracts are being sold together as one exceptional investment parcel with unlimited potential. Currently zoned R-3 High Density Residential and approved as a Planned Unit Development (PUD). The property offers tremendous flexibility for residential development. Existing approved site plans include: Duplex buildings lining the street frontage Condo-style buildings facing Lochmere with architectural elevations and floor plans completed A proposed 3-story apartment building approved for 40 townhomes An additional ''Future Development'' section allowing for expanded possibilities. The original PUD approval included a minimum of 242 residential units, with additional density potential in the future development area, and notably did not establish a maximum unit cap. This highly desirable location combines convenience, natural beauty, and proximity to one of the area's most sought-after residential communities, making it ideal for apartments, condominiums, townhomes, or mixed residential concepts. Buyer and agent to confirm all information to their satisfaction. All information per CRS.
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Property Features
- Amenities: Cable Ready
- Legal Description: 024 130.02
- MLSID: 711362
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