Commercial Sale

Expired Vacant Land for Sale
Catylist Listing ID: 29999361
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Self Storage
Gross Land Area: 2.08 Acres
Sale Price: $525,000
Unit Price: $252,403 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Expired On: 9/14/2017
Last Updated: 9/14/2017

Overview / Comments

HUGE POTENTIAL for Commercial Development on Major Highway Red Light Corner! For Sale is a Large 2.08 Acre Tract that has 550 feet of frontage on HWY 153, and is located at the corner of HWY 153 and Grubb Rd, just beyond the Wal-Mart Supercenter and surrounding outparcels. The developed outparcels near the Wal-Mart sold in late 2014 for north of $22mil. There is a major project in planning phase on the west side of HWY 153 in this same block across the highway from the subject property. Also, less than one mile North on the East side of Hwy 153, The Hillocks Farm Development is underway, and will ultimately yield 250 upscale apartments, 500,000ft2 of commercial space, and 250,000ft2 of office space. Subject property has almost 45,000 cars per day, and over a mile of straight line visibility for the coveted Northbound Traffic. The property has some developmental issues, with the site topography, but the location, accessibility and visibility more than compensate for this once in a lifetime opportunity. This property is near many new and established commercial developments, sits at the corner of Grubb Rd which is one of the main residential arteries of the Hixson area, and is equidistant between Hixson Pike/DuPont Parkway and Hwy 27. Property has a small rental house at 6109 Wilder Road. Please do not disturb tenants. Please call agent for details, current survey maps, zoning information and all other questions.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Property Visibility: Excellent
Largest Nearby Street: Grubb Rd
Feet of Frontage: 550
Traffic/Vehicle Count: 45,000
Highway Access: HWY 153
Airports: YES
Lot Frontage: 550
Lot Depth: 268
Topography: Gently Sloping

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,223 39,279 82,308
Median Age: 39.45 41.7 40.84
Households: 3,029 16,543 35,081

Contact

Photograph of Listing Agent

Matt McDonald

Real Estate Brokers GCAR CMLS Member
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