109 Wesley St - Commercial LAND FOR SALE


Johnson City, TN 37601- Downtown Johnson City1,084,644 SF
$6,000,000 USD
754-354-2742
109 Wesley St, Johnson City, TN for Sale
$6,000,000 USD
Commercial LAND - FOR SALE
1/5
1,084,644 SF

109 Wesley St
Johnson City, TN 37601
Downtown Johnson City


HIGHLIGHTS

  • Prime Location: 24+-acre site near downtown Johnson City with easy access to essential services and major transportation routes.
  • Zoning Support: Strong backing from city officials for rezoning to residential or mixed-use, ensuring smooth development.
  • High Market Demand: Steady population growth driving demand for affordable housing; target market includes young professionals, families, and retirees
  • City Collaboration: Mayor and city officials promise support and timely approvals, enhancing project viability.
  • Risk Mitigation: Effective management of construction delays and market fluctuations through careful project planning.

OVERVIEW

The proposed site is well-located, offering convenient access to essential services, schools, shopping areas, major hospitals and treatment facilities, and employment hubs. The land is zoned for industrial use, but the city will help and support a zoning change for residential or mixed residential use. No significant environmental or topographical challenges were evident. Johnson City has experienced steady population growth and an increasing demand for affordable housing. The target market for these townhomes includes young professionals, families, and retirees. Comparative market analysis indicates a high absorption rate for similar properties in the area, with potential sales prices ranging from $525,000 to $560,000 per unit, which aligns with the local market expectations. The development of higher-end rental apartments is also justified. All necessary permits and approvals, including zoning, building codes, and environmental regulations, are obtainable. There are no significant legal barriers to the development, though ongoing coordination with local planning authorities will be necessary to ensure timely approvals. There have been numerous discussions with the Mayor and other city officials within Johnson City, Tennessee, and they promise to offer any necessary help and support to make this much-needed development work.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/ACRE

$240,964/AC

PRICE/SF

$6 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Prime Investment: Housing in Johnson City

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Commercial, Retail

LAND ACRES

24.9 AC

LAND SF

1,084,644 SF

OFFSITE IMPROVEMENTS

-

ZONING

-

APN/PARCEL ID

038B-B-019.00

ASK ABOUT THIS PROPERTY

Arthur LaponADL Consulting ServicesMore Info
754-354-2742

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Arthur LaponADL Consulting ServicesMore Info
754-354-2742

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.