Multi-Family Land For Sale

Vacant Land for Sale
Also listed as Multi-Family
Catylist Listing ID: 28397902
Property Subtypes: Multi-Family, Office
Building Status: Under Construction
Gross Land Area: 138,071 SF
Sale Price: $995,000
Unit Price: $7.21 PSF
Ceiling: 10 ft.
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Build-to-Suit
Cap Rate: Undisclosed
Last Updated: 8/26/2019

Overview / Comments

The City of Chattanooga has extended NorthPoint Blvd from its intersection with Hixson Pike through this site and connecting with Hamill Road.

This 3 1/2 + acre site is a PARTIALLY DEVELOPED LEVEL BUILDING SITE WITH COMPLETED STORM WATER AND SITE GRADING. It has been engineered and designed for a five (5) building 30,271 square foot office condominium development.

The property was rezoned R-4 to facilitate the development of medical and professional offices. The site can accomodate various sized buildings or one building. A parking ratio of 5 spaces per 1,000 square feet of office space is achieveable.

Purchasers will have the opportunity to buy the whole site; or a pad-ready site; or a completed building shell ready for their improvements; or a completed building. There are leasing opportunities as well.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Submarket Type: Suburban
Tax ID/APN: 110J-A-003
Zoning: R-4
Market Type: Medium
Property Located Between: Hamill Road and Hixson Pike
Side of Street: East
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Northpoint Boulevard
Transportation: Bus, Highway, Taxi
Highway Access: NorthPark Centre is located off Hamill Road, two blocks East of Highway 153, just past Memorial NorthPark Hospital. Godsey Drive has been renamed NorthPoint Boulevard and extended from Hamill Road through NorthPark Centre to Hixson Pike.
Site Description: The site has been rough graded and developed to a level site with stormwater and utility infrastructure engineered and in place. Five (5) building pads are graded and compacted, ready to build upon.
Area Description: The site is located in the fast growing Hixson submarket, one block away from Memorial North Park Hospital. The City of Chattanooga has converted Godsey Drive into a three lane extension of NorthPoint Boulevard through NorthPark Centre. A new traffic signal at Hamill Road and NorthPoint Boulevard provides for easy access.
Development Name: NorthPark Centre
Topography: Level
Easements: Ingress/Egress, Utilities
Available Utilities: Electric, Water, Gas, Storm Drain, Cable, Broadband

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,731 38,602 96,416
Median Age: 40.06 42.06 39.96
Households: 2,156 16,898 41,434


Photograph of Listing Agent

Steve Hunt

Berry & Hunt Greater Chattanooga REALTORS® Member
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