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106 Mitchell rd - Oak Ridge Development Site 32.33 Acres of Commercial Land in Oak Ridge, TN 37830
Investment Highlights
- In-Place Multifamily Zoning.
- Sophisticated Renter Demographics.
- PILOT and Utility Availability (all on-site).
- Existing Apartment Fundamentals.
- Proximity to Class A Retail, Demand Drivers, and Major Employers.
Executive Summary
Northmarq is pleased to present the Oak Ridge Development Site, offering a premier investment opportunity, underscored by several key factors. The site benefits from in-place R-4 High-Density Residential zoning, allowing for development without requiring additional approvals along with an approved PILOT and Utilities at the site. This 32.33-acre site is positioned in the heart of Oak Ridge where new construction rents average $1,792 per unit with strong rent growth. The local submarket is characterized by an extremely well-educated workforce, robust job market, and high household incomes, driven by major government-backed employers like Oak Ridge National Laboratory, Y-12 National Security Complex, and Oak Ridge Associated Universities. Seller is open to an outright sale or joint venture which could include a land contribution or a multitude of other options.
Property Facts Under Contract
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | Commercial |
| Property Type | Land | Total Lot Size | 32.33 AC |
| Zoning | R-4 - High Density Residential | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 32.33 AC |
| Zoning | R-4 - High Density Residential |
1 Lot Available
Lot
| Lot Size | 32.33 AC |
| Lot Size | 32.33 AC |
Description
32.33 AC
1 1
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106 Mitchell rd - Oak Ridge Development Site
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