323 Morris Blvd Morristown, TN 37813

Property Details for 323 Morris Blvd

Property type

Commercial real estate

Description

This 1.23-acre commercial land parcel in Morristown, Tennessee, presents a compelling redevelopment opportunity. Located on E Morris Blvd, a high-traffic corridor (approx. 17,000 vehicles per day), the property boasts excellent visibility and proximity to numerous established businesses, including Fast Pace Urgent Care, Subway, Walgreens, Petsense, Dairy Queen, Burger King, Popeyes, and KFC. The site benefits from existing right-of-way access through a neighboring parking lot and some established parking. An existing office building on the property is not included in the asking price of $749,900 and is considered unsuitable for the highest and best use of the land. Morristown's robust economy, with an average annual job growth of 500 over the past five years, fuels a thriving commercial real estate market. The city's strategic location at the crossroads of upper East Tennessee, easily accessible via major interstates, makes it an attractive investment destination. The CB zoning permits a variety of commercial uses, making this a versatile opportunity for developers seeking to capitalize on Morristown's growth. Ground lease options are also available at $7,500 per month, NNN. This property offers significant potential for investors and developers seeking a prime location in a rapidly expanding market. The property is situated in Hamblen County, Tennessee, with a zip code of 37813.