Have you ever dreamt of estates fit for royalty or vast landscapes to be your frontier? As a seasoned land investor with an eye for potential, or perhaps you’re a curious newcomer to the world of acreage.
So, how much is an acre worth in Tennessee? The answer, like the state itself, is diverse. Tennessee boasts rolling hills, pristine lakes, and a rich agricultural heritage, making it a dream destination for many. Land in the state is a hot commodity for investors, but its value depends on a multitude of factors.
Have patience! You’re about on a nationwide treasure hunt, uncovering the value of acreage from coast to coast.
Buckle up! Unlike the stock market, land prices are an adventure – you will get an idea about every possible region in a unique investment landscape, Tennessee. Fear not, fellow land enthusiasts – we’ve got the roadmap to navigate this exciting world!
How Much is an Acre Worth in Tennessee?
Just like any real estate, geography plays a starring role. Here’s a breakdown of how location impacts Tennessee land value:
Urban Dreamscapes
Land near bustling cities like Nashville, Knoxville, and Memphis naturally commands a premium. Think high-density development, commercial ventures, and luxury housing projects. Prices can range from $50,000 to $200,000+ per acre in these prime locations.
Scenic Splendor
Tennessee’s breathtaking landscapes, including the Great Smoky Mountains and the Cumberland Plateau, hold immense value. Acreage near lakes, rivers, and national parks is ideal for tourism ventures, vacation rentals, or idyllic private estates. Prices can range from $20,000 to $100,000+ per acre depending on specific features and proximity to amenities.
Rural Retreats
For those seeking a simpler life, Tennessee offers vast tracts of agricultural land and rolling farmlands. These areas are perfect for cattle ranching, crop production, or hobby farms. Prices here tend to be more affordable, ranging from $5,000 to $25,000 per acre.
Residential and Commercial Lands
Here comes the big cheese! Tennessee offers a diverse range of residential and commercial properties, catering to various lifestyles and business needs. However, Real estate prices fluctuate constantly due to various factors such as economic conditions, interest rates, and local market trends.
Residential Lands in Tenessee
Nashville:
- Downtown: High-rise condos and lofts, starting from $300,000 to several million dollars.
- Green Hills: Upscale suburban neighborhood, homes ranging from $700,000 to several million dollars.
- East Nashville: Trendy and affordable, homes typically range from $300,000 to $800,000.
Memphis:
- Overton Square: Urban living with a mix of historic and new construction, starting from $200,000 to $800,000.
- East Memphis: Upscale suburban area with large homes, typically ranging from $400,000 to several million dollars.
- Midtown: Diverse neighborhood with a mix of housing options, starting from $200,000.
Knoxville:
- Downtown: Urban living with condos and lofts, starting from $200,000.
- Bearden: Established suburban neighborhood with large homes, typically ranging from $300,000 to $800,000.
- Farragut: Upscale suburban community with newer homes, starting from $400,000.
Chattanooga:
- North Shore: Trendy urban area with riverfront views, homes ranging from $300,000 to $1 million.
- Lookout Mountain: Upscale suburban neighborhood with stunning views, homes starting from $500,000.
- East Brainerd: Established suburban area with a mix of housing options, starting from $250,000.
Commercial Lands in Tenessee
Commercial land prices vary widely based on location, size, and zoning. Some prime commercial areas in Tennessee include:
Nashville:
- Downtown: Prices can range from $2 million to $20 million per acre, with some prime locations exceeding this range.
- Gulch: Commercial land prices in The Gulch typically start around $1 million per acre and can go up to $5 million or more depending on the property’s specific location and attributes.
- Cool Springs: This affluent suburban area has commercial land prices ranging from $500,000 to $2 million per acre.
Memphis:
- Downtown: Commercial land in Downtown Memphis can range from $1 million to $5 million per acre.
- Oak Court Mall area: Prices in this area tend to be lower than Downtown Memphis, with commercial land starting around $500,000 per acre.
Knoxville:
- Downtown: Commercial land prices in Downtown Knoxville typically start around $1 million per acre and can go up to $3 million or more depending on location and size.
- Turkey Creek: This suburban area is a popular retail destination, with commercial land prices ranging from $300,000 to $1 million per acre.
Chattanooga:
- Downtown: Chattanooga’s Downtown area has seen significant commercial development, with land prices ranging from $1 million to $4 million per acre.
- Hamilton Place Mall area: Commercial land prices near Hamilton Place Mall are generally lower than in Downtown Chattanooga, starting at around $500,000 per acre.
Resources for Your Land-Buying Journey in Tennessee
Now that you know, here are some resources to fuel your Tennessee land-selling journey:
- Real-Estate Listing Websites: Explore platforms like LandWatch or Zillow to understand current market prices in your desired area. Look for listings that specify price per acre for better comparison.
- Local Land Experts: Connect with a realtor specializing in rural properties. Their knowledge of the local market and land use regulations will prove invaluable.
- Government Agencies: The United States Department of Agriculture (USDA) offers resources on land valuation and soil quality.
Factors to Consider Before Buying Land in Tennessee
While location is a major factor, several other aspects influence Tennessee land value:
- Purpose of Selling Land: Are you dreaming of a hemp farm, a sprawling vineyard, or a cozy cabin getaway? The intended use significantly impacts value. Rich, fertile land ideal for agriculture might not be suitable for a luxury development, and vice versa. Consider consulting with local experts to understand the suitability of the land for your vision.
- Value of Per Acre: While vast land parcels often translate to higher total prices, it’s the price per acre that truly matters. A strategically located smaller plot with development potential could be a more valuable investment than a remote, sprawling tract.
- Researching: Don’t underestimate the importance of due diligence. Research zoning restrictions, soil quality, potential environmental concerns, and access to utilities. These factors can significantly impact the land’s usability and, therefore, its value.
Conclusion
It’s time to wrap it up. So far, we’ve discussed how much is an acre worth in Tennessee. In addition, we’ve got to know how factors like location, purpose, and size influence acreage prices. From the bustling urban centers to the serene countryside, Tennessee offers a diverse landscape of investment opportunities.
Remember, land prices in Tennessee, like anywhere else, are subject to market fluctuations. Super Land Buyers is committed to guiding you through this dynamic market, helping you make informed decisions, and secure the best deals.
Stay connected with us for the latest insights and expert advice on your land investment journey.
Let’s turn your land dreams into reality together!
FAQ
- How Much is 1 Acre of Land Worth in Tennessee?
The price of an acre of land in Tennessee can vary dramatically based on location, terrain, and intended use. While the average price hovers around $14,400 per acre, you could find rural land for as little as a few thousand dollars or prime development land valued in the millions.
- How Much Does 2 Acres of Land Cost in Tennessee?
Tennessee offers a more budget-friendly land market compared to neighboring North Carolina. The cost of 2 acres of land in Tennessee typically ranges from $9,400 to well over $100,000. This wide range represents the significant variations in location, land quality, and amenities across the state.
