WHAT IF. . . NOW AND INTO THE FUTURE. . .THE ONLY SAFE PLACE FOR YOU AND YOUR FAMILY WAS ON A LAKE, IN THE MOUNTAINS WITH EQUAL ISOLATION AND CITY ACCESS.???? CORONA VIRUS, MARKET COLLAPSE, CIVIL UNREST AND THEN THE NEXT VIRUS. . . SOLUTION. . .Pointe 16/Jones Ridge Property located on county-maintained road. . . .Jones Ridge Road. 43.4 acres of continuous situated property (all land/property is adjacent and side by side with no land/property separation). Entire property is lake front on Norris Lake at Point 16 on the Powell River side of Norris Lake. There is over 1,500 feet of lake frontage. All lake frontage is deep water year-round. Asking $599,900 for the entire 43.4 acres. PRICE CAN BE OFFSET BY 8% - 10% BASED ON VALUE OF TIMBER CUT (SELECT CUT)! We purchased the property 11 years ago with intentions of developing it for ourselves. We also own a home on Norris Pointe and land in the Buckeye Landing section of Deerfield. We’ve decided that we are going to further develop the Norris Pointe property and are selling Point 16/Jones Ridge and the Buckeye Landing properties. There is a boat ramp. EVEN BETTER, WITH OVER 1,500 FEET OF LAKEFRONTAGE, BUILD YOUR OWN BOATRAMP THAT ONLY YOU USE!!!! We considered and are still considering logging the Jones Ridge property. We’ve had three (3) different logging companies and one logging consultant evaluate the property. The timber was valued at $35,000 (amount for us) 8 years ago. We estimate that the timber has increased in market value to around $50,000 today. When we purchased the property, it was marked into five (5) separate tracts with a 5-year obligation to maintain the original marks. Now expired, the 44.3 acres could be separated into whatever configuration desired. Comps. . . .there are very few. . . few large tracts of land along with extensive lake frontage that I could find. There are several lake front lots available on Norris Lake, however, they are usually very small (.3 - .9 acres), with typically around 100 ft. of lakefront. Most of these lots sell in the range of $150,000 to $300,000 per lot depending on the location. There are even some lots that sell for over $300,000. Interesting, there is a 3 acre tract of land in what is called the Peninsula that is being sold for $6.9 million (yep, $6.9 million!!) The owner of this land is not budging either. We have heard that he was offered $5.4 million and turned it down. So what has always been most attractive to me is the larger tracts of land with extensive lake frontage. Unfortunately, there simply aren’t very many of these left. The TVA, during the summer of ’07, essentially stopped all future approval of new land development on its waterways. What that means is that not only is there a limited current supply, but also there will not be any more land allocated for development beyond what has already been approved. The true attraction to this property is simply it’s location away from the ever-increasing traffic on Norris Lake. While more secluded, this property is still only 5 minutes from Union County Boat Dock, 15 minutes from Blue Springs Marina and 20 minutes from Flat Hollow Marina by water. A new modern campsite was opened at Point 17 (about 20 minutes further up from this property) that has quickly become a desired attraction for “modern” campers. I say “modern”, because this campsite only allows campers and fifth wheels of larger sizes, the campsite has a clubhouse, tennis courts, swimming pools and full internet connections. This attraction will definitely benefit property values between the Flat Hollow are and Point 17. While not the preferred arrangement, we would consider selling parts of the 44.3 acres. We will also consider owner financing.
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