Marcus & Millichap is pleased to exclusively present this Knoxville MSA Development opportunity located at 4277 Highway 321 South in Lenoir City, TN 37772. The site is located on the NE quadrant at the intersection of Hwy 321 & Hwy 95. The opportunity consists of two contiguous parcels with APN numbers are 053044 02500 and 053036 09500.

Loudon County has planned to pull city sewer and electrical along the entirety of Hwy 321 between Lenoir City and Maryville. An additional 50-unit single family home and marina development has been approved to the north of the site directly on the Tennessee River. The area already boasts strong traffic counts 21,594 vehicles per day with many of these travelers commuting to the bustling Maryville area and/or visiting the Great Smokey Mountains - one of the most visited state parks in the country. Population has been growing at ~16% for the last 10 years with a projected growth in the next three years of 7%. Current demographics in a 5-mile radius show $93,849 average income with 31,855 population growing to 34,095 by 2027.

The development site plans are currently entitled to build a total of 179,592 square feet Self-Storage facility. The site is on elevated ground allowing for excellent visibility and prominent display of signage along the well-travelled Hwy 321. From a Self-storage perspective, it is recommended to build out the full site plan in phases starting with approximately 100,000 NRSF; this will put the 5-mile supply index right at seven feet per person.