635 Veterans Pkwy Morristown, TN 37813

Property Details for 635 Veterans Pkwy

Year built

1989

Lot size

28.42 lot acres

Property type

Commercial real estate

Description

This exceptional 28.42-acre commercial land parcel presents a unique investment opportunity in the thriving West Morristown submarket of Tennessee. Located at 635 Veterans Parkway, Morristown, TN 37813, this fee-simple property boasts a prime location just two minutes from Andrew Johnson Highway, offering unparalleled accessibility and visibility. The site is ideally suited for a variety of development projects, including market-rate multifamily housing, 55+ senior living communities, affordable housing initiatives, or other beneficial commercial uses. Its proximity to key amenities further enhances its appeal. Within a two-minute radius lies Morristown Landing, a new community center, and the new Covenant Health Emergency Center. A short five-minute drive connects the property to Morristown Regional Airport and Interstate 81, ensuring convenient access to regional transportation networks. The property is situated in Morristown's most desirable school zone, a significant advantage for residential developments. Furthermore, this location benefits from its designation as a 2023 Qualified Census Tract and an Opportunity Zone, opening doors to potential tax incentives and investment opportunities. The property's 1989 construction date allows for redevelopment possibilities. The land is priced at $50,000 per acre, presenting a compelling value proposition for discerning investors seeking a high-growth area with significant development potential. New Market Tax Credit eligibility adds another layer of financial incentive. This is a rare chance to acquire a substantial land holding in a rapidly expanding area with excellent infrastructure and a strong community presence.