Apartment Development Site (Zoned R-3)

Expired Vacant Land for Sale
Catylist Listing ID: 29979025
Property Subtypes: Multi-Family
Gross Land Area: 20 Acres
Sale Price: $2,600,000
Unit Price: $130,000 Per Acre
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Expired On: 7/8/2017
Last Updated: 7/8/2017

Overview / Comments

CALL FOR OFFERS - ENDS FEB. 28th. Please call for questions or to arrange a site visit.

Multifamily Apartments zoned R-3 and ready for development, this 20 +/- acres site is located at the intersection of Highway 153 and Oyler Lane. (R-3 Zoning allows up to 19 units per acre).

An Initial Traffic Study and sample grading profile have been completed.

Access to Highway 153 is through Oyler Lane. The property consist of 137 and 200 Oyler Lane plus 14 Acres within 5510 Moody Sawyer Rd. parcel.

All utilities available. Traffic study available to serious buyers.

The site is located in the desirable "Hixson" School District which is part of the Chattanooga Public School System:
• Hixson Elementary School: 1,000 feet from site
• Hixson Middle School: 1.5 miles from site
• Hixson High School: 1.5 miles from site

• 1.5 miles to Hixson Memorial Hospital and Chattanooga Heart Institute
• 6 miles (8-10 minutes) from the Enterprise South Business Park (over 1.0 million employees)
• 6-8 miles (10-13 minutes) to Volkswagen plant and Amazon Fulfillment Center
• 15-minute drive to Downtown Chattanooga

The site is located along a 7-lane highway in the heart of the 2nd most densely developed retail locations in surrounding Chattanooga area. The site is located in proximity to many of the neighborhood's best anchored retail centers and restaurants.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton-City of Chattanooga
Tax ID/APN: 099E B 011, 099E B 022, 099L B 030
Zoning: R-3
Property Located Between: Moody Sawyer Rd and Oyler Ln
Property Visibility: Good
Legal Description: 137 Oyler Ln is part of Tract 104.35/3
Largest Nearby Street: Highway 153
Highway Access: Through Oyler Lane to Highway 153
Site Description: Wooded and gentle sloping
Zoning Description: R3
Topography: Rolling
Available Utilities: Electric, Water, Gas

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,906 37,578 86,742
Median Age: 40.27 41.74 40.46
Households: 3,313 16,396 37,134


Photograph of Listing Agent

William B Raines Jr.

The Raines Group, Inc. GCAR CMLS Member
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