920 Loy St is aland property for lease in Clinton, TN.
Property consists of adjacent parcels all under a single LLC ownership amounting to a total of 17.69 acres. The Property has street frontage on Loy Street and is connected to Longmire, a collector road via an easement to Shaw Road. Since the Property slopes upward from Loy Street, the Property has access from both the bottom and top of the Property. The Property is currently zoned, “R-2”, which allows for Tri-Plexes and Four-Plexes, in addition to axillary buildings such as garages. Under “R-2” Zoning, theoretically unit density could be as high as 11.3 Units per Acre using a PUD Plan. For the Property to go beyond its current potential, the Property could be rezoned to “R-3” Zoning (Multi-Family). A case can be made for rezoning. The parcel(s) is a large infill parcel located adjacently on the parcel’s long side to Carriage Trace Apartments, Phase II. The other three (3) sides of the Property are primarily adjacent to a large lower-middle income area of primarily single family homes. The neighboring apartment complex has a pleasant unit density of 12 Units per Acre achieved with six (6) to eight (8) Unit two-story apartment buildings which allows for ample open space. Since there is a strong need for additional apartments in Clinton, Tennessee coupled with a well proposed re-zoning application involving this Property, obtaining beyond 12 Units per Acre density is possible.
The Properties’ deepest point is 1,250+/- feet and widest point is 675+/- feet. On the other side of Loy Street where the balance of the Property exists, the Property not including the back “alley” easement goes to a depth of 142.50+/- feet.
1st Property has a 1,368+/- SF home on the Property.
2nd Property has had homes removed with one 900+/- SF remaining.
3rd Property is vacant.
4th Property has a 1,552+/- SF home on the Property.
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