Old Huntingdon St Lexington, TN 38351
11-502. R-2 (Medium Density Residential) Districts. The purpose of the medium density district is to maintain the character of areas that currently exist or are suitable for the development of mixed residential uses, which have the utility, transportation, or other infrastructure necessity to support single family homes along with duplexes and apartment comp…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R-2 · Lexington, TN11-502. R-2 (Medium Density Residential) Districts. The purpose of the medium density district is to maintain the character of areas that currently exist or are suitable for the development of mixed residential uses, which have the utility, transportation, or other infrastructure necessity to support single family homes along with duplexes and apartment complexes; therefore, negating the harmful effects of traffic congestion and intensity of activity. Within the R-2 (Medium Density Residential) Districts as shown on the Zoning Map of Lexington, Tennessee, the following regulations shall apply: A. Uses Permitted. 1. Single, two and multiple family dwellings excluding mobile homes on individual lots. 2. Accessory uses and buildings customarily incidental to any aforementioned permitted uses such as private garages, parking areas, swimming pools, or recreation courts used exclusively by the residents. 3. Signs in accordance with Chapter IX of this Ordinance B. Uses Permissible on Appeal. 1. Churches and other Places of Worship 2 Schools 3. Municipal, County, State or Federal uses 4. Libraries 5. Parks and Recreational facilities 6. Transportation right-of-ways 7. Public utilities facilities 8. Cemeteries 9. Nursing Homes and Elderly-Assisted Care Facilities a. As a condition of approval of the aforementioned Uses Permissible on Appeal, site plans shall be approved by the Board of Zoning Appeals in accordance with Chapter IX, Section 11-914 of this Ordinance. The Board of Zoning Appeals may attach such conditions to the permit as are necessary to minimize vehicle and pedestrian congestion and to preserve and protect the character of the district in which the proposed use is located. This power shall include: the power to require greater setbacks and yard spaces than required by other provisions of this Ordinance, the power to specify access points and driveway and parking locations, and similarly site design matters. This power shall not include the power to specify or alter the architectural style of proposed buildings, the power to specify building materials or colors, or other similar powers. 10. Customary incidental home occupations provided that no building permit or certificate of occupancy for such use shall be issued without the written approval of the Board of Zoning Appeals and subject to such conditions as the Board of Zoning Appeals may require in order to preserve and protect the character of the neighborhood in which the proposed use is located; and provided further that: a.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.