825 Oak Ridge Turnpike, Oak Ridge, TN 37830
(MLS # 1230014)

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PRICE $549,750 BEDS 0 BATHS 0 HOME SIZE n/a LOT SIZE 4.66 ac Request More Info Schedule a Showing

Prime location on the Oak Ridge Turnpike between McDonalds, the Unitarian Universalist Church and the Department of Energy Headquarters. This undeveloped land is suitable for a range of multiple uses. Currently zoned O-2 by the City of Oak Ridge, it allows residential multi-family dwellings such as townhomes, condominiums, four-plexes and apartments. It also allows use for a dormitory, a fraternity or sorority house, or even a transient group care facility. It can also be developed for more traditional office use, a hotel or motel, or for an assortment of medical and health related purposes. The Board of Zoning Appeals can approve a multitude of other interesting uses. Mixed use development is also specifically permitted.This lot has a unique relationship with the McDonalds parcel. The Turnpike entrance to McDonalds is actually on the 825 Oak Ridge Turnpike lot and can be used to directly access the lot. An easement provides additional access for ingress and egress to and from the lot across the rear 50 feet of the McDonalds lot which happens to align with and in essence be an extension of Milan Way. Preliminary layouts have been drafted for a 25,000 SF medical facility with 175 parking spaces and for a climate controlled 77,500 SF storage building. A variety of housing layouts have also been looked at. One of the most promising is a string of townhomes that wraps around a central common area. Depending on the actual width of each town home there could be from 15 to maybe 35 units. There is adequate depth of up to about 90 ft so even narrow town homes could have a reasonable amount of sq footage. Any multi-family development would have to meet the basic standards of the O-2 district which does not have a specific density requirement. Instead the maximum floor to lot area is 80%, so buildings cannot cover more than 80% of the lot (that does not include parking or other pavement). Setbacks are: Front: 30' / Side: 15' / Rear: 30'. Owner is open to partnering or other creative ideas.