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6701 Oak Ridge Hwy
Knoxville, TN 37931
Grassy Creek Development Outparcels · Land For Sale
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2.10 AC
Investment Highlights
- Anchored by a Food City grocery store and a five-minute drive to Walmart, Target, Kroger, Lowe's, and other national retailers.
- Located at the signalized intersection of the new, five-lane Schaad Road and Oak Ridge Highway and serves the growing Karns community.
- Each site is delivered pad-ready with all utilities and access stubbed in as well as an off-site detention already in place.
- Average household income of $88,119 within a mile of the property and a total consumer spending of $4.8 billion within a 10-mile range.
Executive Summary
- 30 acre development anchored by Food City opened April 2021
- Over 3,700 new homes approved in the trade area
- Access points, utilities and off-site regional detention in place
Pad-ready sites in Grassy Creek development, anchored by Food City grocery store opened April 2021. Food City (KVAT Food Stores) is the 33rd largest grocer in the US with 127 stores and 16,000+ employees across Tennessee, Georgia, Virginia and Kentucky, and sales exceeding $2B.
Located at the new intersection of Oak Ridge Hwy and Schaad Road, Oak Ridge Hwy (TN-62) has recently been widened to 5 lanes and connects Karns with Downtown Knoxville. Schaad Road is a new 5 lane ring road to connect I-75 in N. Knoxville with I-40/75 in W. Knoxville, on track for 2024 completion.
Combined Traffic Count of 52,910 VPD upon 2024 completion of Schaad Road (CDM Smith TIA). Current combined traffic count of 34,410 VPD has been reduced due to road construction.
Limited inventory, High growth area with great schools, and over 3,700 new homes approved in the trade area. This is one of the few areas in Knox County with remaining developable land for residential growth.
Easy access and visibility via new project roads signalized at Oak Ridge Hwy and the new Schaad Road.
Serving the growing Karns community of Knoxville, convenient to employees in the CBD, Pellissippi Technology Corridor, Oak Ridge National Lab/DOE Installation and the University of Tennessee.
SOLD SUBJECT TO GRASSY CREEK DEVELOPMENT CCR'S INCLUDING TIF-REQUIRED SELLER REPURCHASE RIGHT IF LOTS ARE NOT IMPROVED BY PURCHASER.
Property Facts
2 Lots Available
Lot 4
| Price | $1,521,566 CAD | Lot Size | 0.89 AC |
| Price Per AC | $1,709,624.98 CAD |
| Price | $1,521,566 CAD |
| Price Per AC | $1,709,624.98 CAD |
| Lot Size | 0.89 AC |
Pad-ready with all utilities, direct access, and an off-site detention. Direct access to Oak Ridge Highway and rear access to new traffic signals at Oak Ridge Highway and Schaad Road. Part of the Grassy Creek Development anchored by Food City.
Lot 13-2
| Price | $1,241,188 CAD | Lot Size | 1.21 AC |
| Price Per AC | $1,025,774.99 CAD |
| Price | $1,241,188 CAD |
| Price Per AC | $1,025,774.99 CAD |
| Lot Size | 1.21 AC |
Pad-ready with all utilities, direct access, and an off-site detention.
Description
The Grassy Creek Development at 6701 Oak Ridge Highway is a 30-acre site anchored by a Food City grocery store that opened in April 2021 and offers a variety of development options. Freestanding, endcap, and shop space opportunities are available with sites delivered pad-ready and available for sale, ground lease, or build-to-suit. A regional detention pond created by the developer also provides off-premise stormwater facilities for all lots in the development, and the property is anchored by a new Food City grocery store, the 33rd largest grocer in the US. The site provides convenient access and visibility via new project signalized roads at Oak Ridge Highway and Schaad Road, a new five-lane ring road that connects I-75 in North Knoxville with the I-40/I-75 interchange in West Knoxville. Traffic counts of 52,910 vehicles per day are projected upon the full completion of the thoroughfare, and the area is experiencing high growth with great schools and over 2,700 new homes approved in the trade area. This is one of the last remaining areas in Knox County with developable land for residential growth, and the site also serves the growing Karns community of Knoxville while being convenient to employees in the Central Business District, Pellissippi Technology Corridor, Oak Ridge National Lab/DOE Installation, and the University of Tennessee. Buyers and tenants can also benefit from proximity to the area’s retail hub, which is within a five-minute drive and is home to national retailers like Walmart Supercenter, Target, Lowe’s, Hobby Lobby, Marshalls, The Home Depot, ALDI, and Kroger. The expansive site at Grassy Creek Development is the perfect location for businesses and investors looking for a variety of pad-ready lots in a growing community.
