8985 U.S. 51 Hwy, Millington, TN 38053 - 8985 US Highway 51, Millington, TN
16 Acres of Commercial Land Offered at $1,393,920 in Millington, TN 38053
INVESTMENT HIGHLIGHTS
- In the path of considerable commercial and residential development along high-traffic US Hwy 51
- US Hwy 51 carries 25,000 +/- vpd by this location
- Sewer and water are convenient to site
- May be combined with adjoining 20 ac to provide 36 ac tract
- IN OPPORTUNITY ZONE
- Pro-development City officials are easy to work with
EXECUTIVE SUMMARY
One possible development schematic shows retail along the Hwy 51 frontage with residential behind
This 16-acre site could be combined with the adjoining 20-acre parcel to provide 36 acres. use as an office campus or office + light industrial might get approval
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $1,393,920 |
| Price Per AC | $87,120.00 |
| Lot Size | 16.00 AC |
16 acres on the northern fringe of significant new commercial development. It is expected that development will continue in the direction of this site. Presently used for agri purposes. Sewer and water are convenient to site. Millington is booming
DESCRIPTION
16 acres for commercial and residential development. Presently used for agri. Can be combined with adjoining 20 ac parcel to provide 36 acres Millington is booming with new commercial and residential development. it is expected to benefit from Ford's Blue Oval City and Elon Musk's xAI super computer (Memphis). Millington is home of Naval Air Training Center which has been converted to Navy's regional HR center with over 7,000 officer, enlisted and contract personnel. Millington's airport has an 8,000' runway with FBO and repair & maintenance service provider. The site is just north of new Forked River Commons retail development which includes TJ Maxx, Hobby Lobby, Aldi's, Burlington, Chipotle, Mattress Firm, Chicken Salad Chick, Longhorn SteakHouse, et al In OPPORTUNITY ZONE
PROPERTY TAXES
| Parcel Number | M0-105-0-0200 | Improvements Assessment | $0 |
| Land Assessment | $26,825 | Total Assessment | $26,825 |
ZONING
| Zoning Code | AG (Presently used for agriculture) |
