Residential Development Opportunity
Price
$3,646,000
85 ACRES
Check out our newest 85-acre development opportunity situated across from Ft. Campbell Military Base in Oak Grove, KY. Located on the Tennessee/Kentucky border, this exceptional property is just a stone's throw away from The Fort and the recent opened Oak Grove Casino & Racing Development (2020). Currently used for farming, this property is ready and zoned for residential development. Don't miss out on this great investment opportunity in a growing area.
Key Features of This Property:
Property Characteristics:
Up to 400 Possible Buildable Lots
85 Acres of 100 Acre Farm Available for Development
Flat land currently used for growing Wheat, Soy, & Corn
One Block from New Oak Grove Gaming Hotel & Casino
Owner Financing Terms Possible
Due Diligence Concerns
Current Zoning:
R-2 - The intent of this district is to provide one and two family residential areas of medium population density. One and two family dwellings are the principle land use for this district with a minimum area of 7,500 square feet.
Front Set Back - Min 25 ft. - Max 40 Ft
Rear Yard Set Back - 20 ft.
Side Yard Set Back - 7ft.
Water & Sewer
Water and sewer access for the development will need to be obtained through an easement on the neighboring properties to the south of the site. The connection point to the municipal water source will be located on the 400 Block of Thompsonville Ln, Oak Grove, KY.
Water Utility - Owned & Controlled by The City of Oak Grove
Sanitary Sewer System - Owned & Controlled by Hopkinsville Water Environment Authority (HWEA)
Roads & Egress
Access to the site will be provided via easements on the neighboring properties to the West, South, & North. Two potential access points have been identified:
Fort Campbell Blvd to Tuckaway Ln: This access point is contingent upon receiving approval to pave a road that crosses a federally owned railway. Our team will coordinate with the relevant authorities to secure the necessary permits and approvals for this access point.
Thompsonville Ln to Lyons Dr: This access point is contingent upon receiving approval for an easement to pave a road that crosses a privately-owned parcel. Our team will work diligently to negotiate and secure the required easement from the parcel owner.
Mace Ln: This access point is contingent upon receiving approval to pave a road that crosses a federally owned railway. Our team will coordinate with the relevant authorities to secure the necessary permits and approvals for this access point.
It is important to note that the Rail Road that borders the property line to west of the site is owned by the U.S. Army. Any paving across the rail road tracks or within 50 ft. must have an approved site plan by the Ft. Campbell Master Planning Division & Public Works Dept.
Comparables & Analysis
The nearby residential development at Rose Edd has been fully absorbed and prices continue to appreciate, highlighting the city's demand for quality housing. This presents a prime opportunity to meet the growing need for modern, well-designed residential units in the area. The most recent commercial developments also show promise to the growth of Fort Campbell Blvd.
Average Recently Built Home Price - $240,000
25-33% Gross ROI on New Construction
Walmart, Fort Campbell, & Casino provide promise.
Additional Information is available upon request. Please submit all offers directly to sarter@promiselandrealtyllc.com
"Your #1 Source for Off Market Investment Properties, NATIONWIDE"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
sarter@promiselandrealtyllc.com
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*
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