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
John Cavin
Southeast Venture LLC
