1030 Congress PkwyAthens, TN 37303

Property Details for 1030 Congress Pkwy

Year built

2018

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.64 AC

Property size (Sq ft)

9,240 SF

Property type

Retail space

APN

054047 14304

APU

5404714304

Description

This exceptional 2.14-acre commercial land parcel presents a unique investment opportunity. Located in Athens, Tennessee, adjacent to 1030 Congress Parkway N, this fee-simple property boasts approximately 12,834 vehicles per day (VPD) on Congress Parkway, offering excellent visibility and accessibility. The property benefits from its strategic location between Chattanooga and Knoxville, along Interstate 75, a major transportation artery with over 43,000 VPD. Its proximity to established businesses like Dollar General, FedEx, and other national retailers within a dense commercial/logistics node further enhances its appeal. The property is zoned B-1, Intensive Business District, allowing for diverse uses including retail, service, restaurants, manufacturing, office space, and mini-warehouses (subject to review and approval). Strong demographics support this location, with a population of approximately 22,985 residents and an average household income of approximately $63,195 within a 5-mile radius. This property is being offered via an absolute $1 auction with no reserve, presenting a compelling opportunity for developers and investors. The auction will take place November 4-6, 2024. Detailed due diligence documents are available. This prime location, combined with the favorable zoning and high traffic counts, makes this a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,872,822

  6.5%

  $2,651,835

  7%

  $2,462,418

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,792,860

  Geo Method

  $4,541,933

• Alternative Use

  Use

  Valuation

  Residential

  $2,236,922

  Hospitality

  $2,049,009

  Educational

  $1,704,751

  Medical

  $1,763,380

  Retail

  $2,651,835

Location Insight

City

Athens

County

Mcminn

State

Tennessee

Latitude

35.4823

Longitude

-84.5917

CBSA code

11940

CBSA name

ATHENS, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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