View of protion of Subject Property from grade level with I-75
Catylist Listing ID:
30086964
Property Subtypes:
Hospitality, Multi-Family, Office, Retail, Self Storage, Other
Status:
Pending/Contingent
Gross Land Area:
7.41 Acres
Sale Price:
$1,050,000
Unit Price:
$141,700 Per Acre
Sale Terms:
Cash to Seller
Cap Rate:
Undisclosed
Last Updated:
8/23/2021
Overview / Comments
**PRICE REDUCED** Interchange Development Property. This 7.4 acre site is well positioned for visibility and convenience. The R4 zone provides for a wide range of uses including Multi-Family, Lodging, Hospitals, Churches, Schools, Offices, Assisted Living and even Museums. The site provides good visibility from I-75 traffic especially if existing topography is incorporated into the site plan to provide prominence to the build site. Frontage on Old Lee Hwy (State Route 317) is approx. 650 ft and depth is approx. 500. The parcel is rectangularly shaped (with slight irregularity) and a power line easement crosses one corner, but would not be anticipated to prohibit site uses such as parking or storm water retention. Access to the site from Old Lee Hwy is good. Area uses include Corporate Campus / Head Quarters (US Express two locations, Church of God), Multifamily Complex, hotels, high end Automotive Sales (Porsche, Jaguar, Range Rover). City of Chattanooga Sewer is located approx. 750 ft to the south.
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