$124,900
$25K PRICE DROP

1101 Sherwood Dr Morristown, TN 37814

Estimated payment $724/month

Total Views 11,130
7 Acres
$17,592 Price per Acre
309,276 Sq Ft Lot

About This Lot

Prime 7.1-Acre Multifamily Development Parcel in Morristown, TN
Unlock 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 Highlights
Situated 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 Potential
With 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 Features
Proximity 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 Opportunity
This 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!

Listing Agent

Richard Sarta

Comwire Realty License #352590 Listed on: 07/14/2024

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $412

Lot Details

  • 7.1 Acre Lot
  • Property is zoned R2

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 034A C 052.00

Property Details

Property Type

Land

Est. Annual Taxes

$412

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Land
  • Lot Size Acres: 7.1
  • Directions: From West Norris Boulevard, head north on Buffalo Trail. and make a right on East 6th North Street. Follow East 6th North until it turns into E 4th North and then turns into Sherwood Drive. Property is on the left. The nearest address is 1105, which is near the northern boundary of the property.
  • Location Tax and Legal:Tax Annual Amount: 412.38
  • Location Tax and Legal:Tax Year2: 2023
  • Location Tax and Legal:Parcel Number2: 034A C 052.00
  • General Property Information:Lot Size Acres: 7.1
  • General Property Information:Waterfront YN: No
  • Mobile Home Allowed:Mobile Home Allowed: No
  • Location Tax and Legal:Zoning2: R2
  • Special Features: None

Exterior Features

  • Waterfront: No

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Lot Info

  • Lot Size Sq Ft: 309276.0
  • Parcel #: 034A C 052.00
  • Zoning: R2

Tax Info

  • Tax Annual Amount: 412.38
  • Tax Map Number: 34A
  • Tax Year: 2023

Map

Range of Values:

Collateral Analytics

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/02/2024 12/02/24 Price Changed $124,900 -13.8% --
08/02/2024 08/02/24 Price Changed $144,900 -3.3% --
07/14/2024 07/14/24 For Sale $149,900 -- --
Source: Lakeway Area Association of REALTORS®

Source: Lakeway Area Association of REALTORS®

MLS Number: 704381

Lakeway Area Association of REALTORS®

Tennessee Hamblen County Morristown 37814

1101 Sherwood Dr, Morristown, TN

This home is located at 1101 Sherwood Dr, Morristown, TN 37814 and is currently priced at $124,900. 1101 Sherwood Dr is a home located in Hamblen County with nearby schools including Hillcrest Elementary School, Meadowview Middle School, and Morristown East High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Lakeway Area Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Listing Agent
Richard Sarta
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Comwire Realty
(423) 564-8348