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726 Scenic Drive, Knoxville, TN
Asking price
$699,900
726 Scenic Drive, Knoxville, TN
Asking price
$699,900
The Opportunity
Some properties are valuable because of the home already there. Others are valuable because of their potential to become. 726 Scenic Drive is the latter. Located in the heart of Sequoyah Hills, this property was acquired because we believed it offered a rare redevelopment opportunity in one of Knoxville's most desirable and supply-constrained neighborhoods. Rather than purchasing the property based solely on its current improvements, Glossy Dwellings evaluated its highest and best use through a comprehensive redevelopment analysis.
Disciplined Analysis
As part of our due diligence, Glossy Dwellings developed a conceptual plan to transform the existing home into a luxury residence of approximately 4,000 square feet, designed to complement the surrounding neighborhood. That redevelopment concept was submitted as part of our financing process, and the proposed project was supported by an estimated completed value of approximately $1.575 million, based on comparable luxury home sales in the area. While we ultimately elected to offer the property in its current condition, that analysis illustrates why we pursued this acquisition and underscores the exceptional long-term potential we believe the property possesses.
The Property
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How We Evaluate
Before we purchase, every home is rated across the fundamentals that drive long-term value. Five stars is the strongest rating, and the ratings below are recorded at acquisition.
Current Condition
This property is being offered as-is, providing the next owner with the flexibility to determine its future.
Looking Ahead
As part of our due diligence, Glossy Dwellings developed a conceptual plan to transform the existing home into a luxury residence of approximately 4,000 square feet, designed to complement the surrounding neighborhood.
That redevelopment concept was submitted as part of our financing process, and the proposed project was supported by an estimated completed value of approximately $1.575 million, based on comparable luxury home sales in the area.
Conceptual analysis only. The proposed residence and completed value are estimates based on comparable luxury home sales in the area; any larger redevelopment is subject to applicable approvals. This is not a guaranteed valuation, approved construction, or a committed redevelopment.
Location
Sequoyah Hills is widely regarded as one of Knoxville's premier residential neighborhoods. Its tree-lined streets, historic homes, proximity to the Tennessee River, and convenient access to Downtown Knoxville, Bearden, and the University of Tennessee continue to make it among the city's most desirable places to live.
The Opportunity Today
This property is being offered as-is, providing the next owner with the flexibility to determine its future. Whether the vision is to thoughtfully restore the existing home, undertake a luxury renovation, or explore a larger redevelopment (subject to applicable approvals), Scenic Drive is the kind of opportunity that rarely arises in Sequoyah Hills.
The Company
Glossy Dwellings identifies, acquires and transforms residential properties across East Tennessee.
Learn more about Glossy DwellingsContact
Speak with Glossy Dwellings about 726 Scenic Drive.
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