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219 Coles Ferry Pike

Lebanon TN 37087

1.46 ac.
Land
Currently for sale - view listing

Overview

PRIME LOT FOR DEVELOPERS *** Zoned R2 High Density Residential and approved for up to 18 units for ANY type of residential- Single family, townhome, multi-family, etc. LOCATED in the infill overlay area.***This is a FIVE LOT package deal, to include two vacant lots and three current properties, a quad and two triplexes, all 10 units have long-term renters paying $1,000 each. Tenants convey but will move out. Properties bringing in $10,000/month in rental income. ***Electricity, water, and sewer available and ready to go. **Two options here** OPTION 1: Keep the current properties generating 10k a month, and build up to 5 additional units. **See document attached which shows what each lot is approved for by the city*** OPTION 2: If you tear down the three homes and combine 4/5 lots, the city will approve 18 units. This is the highest amount with current zoning, but planning mentioned if it's rezoned this number could go up. **You do NOT have to go before the commission to combine these lots because they will consider it a "minor combination." Level tract and located minutes from Historic Downtown Lebanon. Lots are being offered at an incredible price compared to active listings and comps in this area, perfect opportunity for developers!! Already have a lender who can assist with financing as well if requested. Bring us an offer!!

Features

1.46 ac. lot size
Land

Happy sellers in Lebanon

93%
93% of sellers in Lebanon reported that their sale price either exceeded or met their price expectations.

Lebanon stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 11 reviews in Lebanon over the last 12 months.

Local market activity for land plots in Lebanon

In the last 12 months, 59 land plots similar to 219 Coles Ferry Pike, have been sold.

This represents a 40% increase in land plots sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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