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    Odyssey Rd Jefferson City, TN 37760

    For Sale
    $2,600,000

    High-Density Residential Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 15.5-acre lot in Jefferson City, Tennessee, presents a compelling multifamily investment opportunity. Currently zoned for proposed R-3 High Density Residential, this property boasts a level topography and is ideally situated across from major retailers Walmart and Lowe's, ensuring high visibility and convenient access for future residents. All utilities are readily available. The location benefits from significant traffic counts, with 18,750 vehicles daily on E. Broadway Blvd, 17,540 on Hicks Rd, and 18,356 on Universal St. Proximity to other key amenities such as TVA Credit Union and Jefferson Memorial Hospital further enhances its appeal. The property is also minutes away from Morristown, a growing residential area, and close to Carson Newman College, providing a strong potential tenant base. Comprehensive demographic data reveals a robust market: within a 3-mile radius, the population is 14,751 with an average household income of $74,598; within 5 miles, the population expands to 22,451 and an average household income of $72,928; and within 10 miles, the population reaches 69,541 with an average household income of $74,271. The asking price for this prime development site is $2,600,000. This presents a rare chance to capitalize on the strong growth and demand in the Jefferson City area. The property is located at Odyssey Rd, Jefferson City, TN 37760.

    Property Features for 0 Odyssey Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    675,180 SF

    HighLights

    • $2,600,000 asking price for this multifamily apartment building.
    • 15.5‑acre lot in Jefferson City, TN, zoned for high‑density residential (Proposed R‑3).
    • Excellent location across from Walmart and Lowe's, with high traffic counts on nearby roads.
    • All utilities available on‑site.
    • Strong demographics, with average household incomes exceeding $70,000 within a 10‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Jefferson City
    County
    Jefferson
    State
    Tennessee
    Longitude
    -83.4687769
    Latitude
    36.1347271

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    FAQs

    What type of property is this?
    Multifamily property - High-Density Residential Development Opportunity
    Where is this multifamily property located?
    The property is located at Odyssey Rd Jefferson City, TN.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: $2,600,000 asking price for this multifamily apartment building.; 15.5-acre lot in Jefferson City, TN, zoned for high-density residential (Proposed R-3).; Excellent location across from Walmart and Lowe's, with high traffic counts on nearby roads.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Odyssey Rd Jefferson City, TN 37760
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