Mixed-Use Land for Sale in Morristown, Tennessee

1101 Sherwood Dr Morristown, TN 37814

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$124,900
7.1 acres
Active sale$20k dropEst $940/mo

Prime 7.1-Acre Multifamily Development Parcel in Morristown, TNUnlock the potential of this exceptional 7.1-acre parcel of multifamily land, strategically located near the heart of Morristown, TN. Zoned for up to 84 units, this property presents a rare opportunity for developers or investors looking to capitalize on a growing area with strong demand for multifamily housing.Location HighlightsSituated near Morristown's bustling center, this parcel offers both convenience and natural beauty:Central Access: Close to shopping centers, grocery stores, schools, and medical facilities, making it an ideal location for residents.Outdoor Attractions: Just a short drive from both Cherokee Lake and Douglas Lake, renowned for their boating, fishing, and recreational opportunities.Gateway to the Smokies: Within easy reach of the Great Smoky Mountains, offering world-class hiking, breathtaking views, and year-round outdoor activities.Thriving Community: Morristown's rich history, vibrant downtown, and welcoming atmosphere make it a highly desirable place to live and work.Development PotentialWith zoning for up to 84 multifamily units, the property is well-suited for a range of development opportunities, including:Apartments or townhomes.A mixed-use project incorporating housing and amenities.Senior living or other specialty housing concepts.The gently sloping terrain and accessible location make site planning straightforward, and utilities are readily available to the site.Key Amenities and FeaturesProximity to Amenities: Residents will enjoy convenient access to restaurants, retail, parks, and schools.Nature and Recreation: Nearby lakes and the Smoky Mountains provide endless outdoor entertainment and relaxation.Strategic Growth Area: Positioned in a thriving East Tennessee community with a growing population and increasing demand for quality housing.Ideal Investment OpportunityThis property combines the convenience of urban living with the serenity of East Tennessee's stunning landscapes, offering a lifestyle that appeals to a wide range of potential residents. Whether you're an experienced developer or an investor looking for your next project, this multifamily-zoned parcel is ready to bring your vision to life.Don't miss the chance to develop a premier multifamily community in the picturesque and rapidly growing Morristown area!

Location

Street Address
1101 Sherwood Dr
Elevation
1,388 feet
Coordinates
36.2276, -83.2855

Property details

MLS Number
LAAR 704381
Date Posted

Property taxes

2023
$412

Parcels

  • 032 034A C 05200 000 2017

This 7.1-acre property is located at 1101 Sherwood Dr in Morristown, TN 37814 with latitude 36.2276 and longitude -83.2855. The property is currently available for sale for $124,900 with a price per acre of $17,592. Listing data is sourced from Lakeway Area Association of Realtors # 704381.

Verify sale details at the property source or contact Comwire Realty at (423) 797-7777.

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Copyright (C) 2024 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Updated . Checked 2 hours ago. Parcel data by Regrid.

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