Prime Morristown Development
For Sale
$2,500,000
Morristown, TN 37814, Morristown, TN 37814
COMMERCIAL - Morristown, TN
Property SizeContact for details
Lot Size23.00 Acres
Days on Market96
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R 3
Zoning description
High Density Residential
Lot features
Irregular Lot
Directions
Traveling North on Cherokee Drive to right on Noes Chapel Rd. to properties on right. See signs.
Standard status
Active
Lot size
23.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
024 130.02
Tax Annual Amount
134975
Legal Description
024 130.02
Utilities
Utilities
Cable Available
Water source
Public
Listing Agency:
Crye-Leike Lakeway Real Estate
(423) 586-3100
Listed By:
David Quillen · License #309946
(423) 748-0901
Added: May 1
Changed: May 20
Last Checked: Aug 4 at 8:06PM
MLS# 711362
Copyright © 2026 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a +/-23-acre development opportunity located in a prime location adjoining the Lochmere community. The three adjoining tracts are being sold together as one investment parcel. The property is zoned R-3 High Density Residential and approved as a Planned Unit Development (PUD), offering flexibility for residential development. Existing approved site plans include duplex buildings lining the street frontage, condo-style buildings facing Lochmere with architectural elevations and floor plans completed, and a proposed 3-story apartment building approved for 40 townhomes. An additional ''Future Development'' section allows for expanded possibilities. The original PUD approval included a minimum of 242 residential units, with additional density potential in the future development area, and did not establish a maximum unit cap. This location combines convenience, natural beauty, and proximity to one of the area's most sought-after residential communities, making it suitable for apartments, condominiums, townhomes, or mixed residential concepts. The property is located in Morristown, Tennessee, in Hamblen County.
Key Highlights
- Prime development opportunity: +/-23 acres in a highly desirable location adjoining the prestigious Lochmere community.
- Approved Planned Unit Development (PUD): Offers tremendous flexibility for residential development with existing approved site plans.
- High‑Density Residential Zoning (R‑3): Allows for a minimum of 242 residential units with potential for additional density.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 37814, TN
34,130
Population
15,287
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
43.9 sq mi
ZIP Area
777
Density / Sq Mi
$51,083
Median Household Income
$35,062
Median Earnings
$859
Median Rent
$192,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 23-acre residential development opportunity in a prime location.
Where is this residential land & home lot located?
The property is located at Morristown, TN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime development opportunity: +/-23 acres in a highly desirable location adjoining the prestigious Lochmere community.; Approved Planned Unit Development (PUD): Offers tremendous flexibility for residential development with existing approved site plans.; High‑Density Residential Zoning (R‑3): Allows for a minimum of 242 residential units with potential for additional density.
