9.7 Acres on Lee Hwy Near Exit 5

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 29924120
Property Subtypes: Retail
Status: Pending/Contingent
Gross Land Area: 9.70 Acres
Sale Price: $1,100,000
Unit Price: $113,402 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/24/2017

Overview / Comments

This 9.7 acre parcel of land is ripe for development.

The property has a slight uphill to it. The slight hill climbs 45 feet over 1,400 feet. About 300 back from Lee Hwy the property has a major creek that traverses it. This is Friar's Branch. The current zoning is C2.

• This property fronts Lee Hwy with 355 feet of frontage and has about 1,412 feet of depth back to I-75 at Exit 5. Exit 5 has the Hamilton Place Mall and all of the retail, hotels and commercial users associated with the biggest mall in Tennessee.
• Property is located between Lee Hwy & McCutcheon Rd.
• Possible uses for this parcel include office, retail or apartments.
• Traffic count is 23,198.
• Interstate access is excellent via Shallowford Rd at Exit 5 or via Bonny Oaks at Exit 7.

Additional Details

Nearest MSA: Athens
County: Hamilton
Taxing Authority: Hamilton County, TN
Tax ID/APN: 139P C 8.01
Zoning: C-2
Market Type: Large
Road Type: Highway
Property Visibility: Excellent
Feet of Frontage: 358
Highway Access: Interstate access is excellent via Shallowford Rd at Exit 5 or via Bonny Oaks at Exit 7.
Airports: Chattanooga Metropolitan Airport
Site Description: The site is long and narrow with 355 feet of frontage on Lee Hwy and about 1,412 feet of depth. There is an upward slope to the property. There is a possibility of adding the land parcels on either side. The site is mostly covered with pine trees. The adjacent parcel to the north on Lee Hwy has a Chattanooga State facility.
Area Description: This Hamilton Place Mall sub-market is the fastest growing area in Hamilton County. This retail area is the retail center for 60 miles in all directions. In addition, the site is only 3.8 miles from the Enterprise Business Park where VW and Amazon are located plus the VW supplier park. Hamilton Place Mall is 1.7 miles away.
Lot Frontage: 365
Lot Depth: 1412
Zoning Description: C2-Commercial
Development Name: 9.7 Acres on Lee Hwy Near Exit 5
Topography: Gently Sloping
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,745 43,929 97,829
Median Age: 40.34 40.61 39.61
Households: 1,529 17,768 39,420

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial GCAR CMLS Member
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