1018 Cosby HwyNewport, TN 37821

  • Land
  • 0.55 AC
For Sale
$750,000 View listing

Property Details for 1018 Cosby Hwy

Lot size
0.55 AC
Property type
Land
Property subtype
Commercial land
APN
015056 01703
APU
1505601703

Description

This exceptional 0.55-acre commercial lot presents a unique investment opportunity in the thriving city of Newport, Tennessee. Located at 1018 Cosby Hwy, 37821, this property boasts a prime location with excellent visibility and accessibility. The lot offers cross-over parking available on both easements, maximizing convenience for potential businesses and customers. High traffic counts are a significant advantage, with 22,725 average daily traffic (ADT) on Cosby Highway and 37,162 ADT on I-40, ensuring substantial exposure for any development. The area is already home to a strong retail presence, including established businesses such as Walmart, Lowe's, Bojangles, Best Western Newport Inn, Cracker Barrel, Hampton Inn, and Newport Cinema 4, creating a vibrant and attractive commercial environment. Strong demographics further support the potential of this site. Within a 5-mile radius, the population is 19,109 with an average household income of $49,952. This increases to 39,282 residents and $59,227 average household income within 10 miles, and 71,266 residents and $65,218 average household income within 15 miles. This prime location and strong surrounding infrastructure make this .55-acre lot an exceptional opportunity for commercial development. The asking price is $750,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $7,015,622
    Hospitality
    $6,426,272
    Educational
    $5,346,584
    Medical
    $5,530,460
    Retail
    $8,316,908
1018 Cosby Hwy, Newport, Tennessee

Location Insight

City
Newport
County
Cocke
State
Tennessee
Latitude
35.9456
Longitude
-83.2049
CBSA code
35460
CBSA name
NEWPORT, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
-
$28,120
-
$28,120
-
$70,300
-
$70,300

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