2323 Morris BlvdMorristown, TN 37813

Property Details for 2323 Morris Blvd

Year built

2022

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.84 AC

Property size (Sq ft)

2,424 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

032034F G 01000

APU

032034FG01000

Description

This exceptional 0.768-acre commercial land parcel presents a unique investment opportunity in Morristown, Tennessee. Located at 2323 E. Morris Blvd, this property boasts 330 feet of frontage on a major east-west arterial road, ensuring high visibility and accessibility. Its strategic location adjacent to the bustling College Square Mall and in close proximity to Walters State Community College guarantees significant foot and vehicular traffic. The site currently houses a newly constructed Arby's restaurant, further demonstrating its prime commercial viability. This property is ideally suited for a variety of uses, including but not limited to a car wash, bank, oil change facility, automotive-related business, or quick-service restaurant (QSR). The lot size allows for flexibility

• CAP approach

  CAP return

  Valuation

  6%

  $911,604

  6.5%

  $841,480

  7%

  $781,374

• Comparable approach

  Method

  Valuation

  Relative Method

  $502,911

  Geo Method

  $502,911

• Alternative Use

  Use

  Valuation

  Residential

  $709,820

  Hospitality

  $650,191

  Educational

  $540,952

  Medical

  $559,556

  Retail

  $841,480

Location Insight

City

Morristown

County

Hamblen

State

Tennessee

Latitude

36.2214

Longitude

-83.266

CBSA code

34100

CBSA name

MORRISTOWN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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