808 State St - Downtown Knoxville Development Site 1.19 Acres of Commercial Land Offered at $12,353,892 CAD in Knoxville, TN 37902

SVN | Wood Properties is pleased to exclusively present this 1.185-acre urban development site, located just off Gay Street at the corner of State Street and Market Street in Downtown Knoxville. This is one of the largest remaining undeveloped parcels in this part of Downtown. With DK-G zoning allowing unlimited height, conceptual studies suggest a mixed-use development with 300+ dwelling units.
Downtown Knoxville’s population has grown over 80% in the past decade, with demand for housing and the growth of The University of Tennessee keeping multifamily vacancy rates low at approximately 5.2%. With downtown's continued growth and strong economic activity, this site offers a rare chance to change Downtown Knoxville's skyline.
Located one block behind Gay Street, this development site offers convenient access to Neyland Drive and the heart of Downtown Knoxville. The area experiences strong traffic flow and is easily accessible to the interstate. This property is positioned within a designated Opportunity Zone, which offers significant tax incentives for investors looking to capitalize on Knoxville’s growth. This opportunity combines centralized location, economic incentives, and high visibility in a rapidly expanding downtown market.
For more information, please visit the documents tab linked here: https://svnwood.com/inventory/?propertyId=1477720-sale.