808 State St Knoxville, TN 37902

This 1.185-acre urban development site is located off Gay Street at the corner of State Street and Market Street in Downtown Knoxville. As one of the largest remaining undeveloped parcels in this part of Downtown, it offers a development opportunity. The DK-G zoning allows unlimited height, and conceptual studies suggest a mixed-use development with over 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%. Located one block behind Gay Street, the 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. The property is positioned within a designated Opportunity Zone, which offers tax incentives for investors looking to capitalize on Knoxville’s growth. Major tax benefits are available. There are no height restrictions. It is near Downtown Knoxville and the University of Tennessee. This opportunity combines centralized location, economic incentives, and high visibility in a rapidly expanding downtown market.