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Newsom Station Road at McCrory Lane/I-40 Exit - Nashville-up to 77 Acre Residential Site@I-40
0.64 - 39.95 Acre Residential Land Lots in Nashville, TN 37221
Investment Highlights
- Potential to accommodate townhome development
- Direct access from Exit 192 (McCrory Lane) on I-40
- Ridgelines offer spectacular views
Executive Summary
In my opinion, townhomes are probably the highest and best use here. A similar ridgeline residential product called Rivervalley Townhomes is currently under construction next door.
Acres are not priced separately, but our thinking was:
Three lower tracts totaling 12 acres for $7.00 per SF (same price Vastland just paid next door) = $3,659,040 (or $304,920 per acre)
plus Upper topographically challenging ridgelines which can be developed with some portions are not usable due to TVA Lines, roughly 60 acres for $50,000 / acre = $3,000,000
So the ASKING PRICE for this 77 Acres (all 5 parcels) is $6,500,000. Seller will review all offers.
Call me with any questions - John Cavin 615-210-9697 jcavin@southeastventure.com
Property Facts Under Contract
| Sale Type | Investment or Owner User | Property Subtype | Residential |
| No. Lots | 5 | Total Lot Size | 77.79 AC |
| Property Type | Land |
| Sale Type | Investment or Owner User |
| No. Lots | 5 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 77.79 AC |
5 Lots Available
Lot
| Lot Size | 0.64 AC |
| Lot Size | 0.64 AC |
Triangular shaped tract
Lot
| Lot Size | 3.03 AC |
| Lot Size | 3.03 AC |
Triangular tract with public roadway surrounding.
Lot
| Lot Size | 6.63 AC |
| Lot Size | 6.63 AC |
Between Newsom Station and I-40. Wraps around a Cemetery.
Lot
| Lot Size | 39.95 AC |
| Lot Size | 39.95 AC |
Portion in TVA easement. Developable ridgelines.
Lot
| Lot Size | 27.54 AC |
| Lot Size | 27.54 AC |
Portion in TVA easement. Developable ridgelines.
Description
Multiple Parcels of Land - up 77.79 acres is for sale by two groups - 50 Acres is owned by one family and 27 by another individual. A good portion of the 77 acres is undevelopable due to TVA lines and topography, but there is a significant developable and relatively flat area on the West corner (about 12 Acres) and also developable on the ridgelines. In my opinion, townhomes are probably the highest and best use here. A similar ridgeline residential product called Rivervalley Townhomes is currently under construction next door. Acres are not priced separately, but our thinking was: Three lower tracts totaling 12 acres for $7.00 per SF (same price Vastland just paid next door) = $3,659,040 (or $304,920 per acre) plus Upper topographically challenging ridgelines which can be developed with some portions are not usable due to TVA Lines, roughly 60 acres for $50,000 / acre = $3,000,000 So the ASKING PRICE for this 77 Acres (all 5 parcels) is $6,500,000. Seller will review all offers. John Cavin 615-210-9697
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $64,350 | Total Assessment | $64,350 |
PROPERTY TAXES
zoning
| Zoning Code | C (Residential- townhomes are likely best use here.) |
| C (Residential- townhomes are likely best use here.) |
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Newsom Station Road at McCrory Lane/I-40 Exit - Nashville-up to 77 Acre Residential Site@I-40
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