Development opportunity & a 6 unit apartment fully leased!

Vacant Land for Sale
Catylist Listing ID: 30289229
Property Subtypes: Hospitality, Industrial, Multi-Family, Retail, Self Storage, Vacation/Resort
Gross Land Area: 5.42 Acres
Sale Price: $850,000
Unit Price: $156,826 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/16/2018

Overview / Comments

A diamond on the hill! Location, Location, Location. The property brings in income from a 6 unit apartment, and billboard. Beautiful rolling hill that over looks the interestate at a 240 degrees. It is a pensulia that is visiable from the interstate from all three sides of the property. Owner has completed all the due dilligence and is ready to turn that over to a buyer. Walk into a ready to go climate control business and it can be built by the new buyer or the owner will arrange a build to suit. You have access from Decatur Rd right off the interstate by the new Burger King and the drive curves around to the property. Two owners working together to have a fantasitc development opportuntiy.5.52 acres for the hill and apartments and the property adjacent to Burger King is a separate parcel listed for $225,000. Listing for this property is attached to the documents. The income for the apartments is $40,000 a year and the Billboard brings in approximately $4,000 a year. This gives the buer to have an opportunity to have money coming in while developing the property. An onsite manager can stay at the apartment. The Motel 6 is on the outer edge of the property and has a lease with the easment the new buyer will own for ingress and egress on the easment coming into the property. Call for more information.
Wendy Elliott 386-481-8439

Additional Details

Nearest MSA: Athens
County: McMinn
Submarket Type: Redevelopment District
Taxing Authority: 046 254.00 & 046 255.00
Zoning: COMMERCIAL
Property Located Between: Whitaker and Hwy 30
Property Visibility: Excellent
Legal Description: The traffic count at the intersection where the property is located is the highest in the City of Athens at 38,3
Largest Nearby Street: Decatur Pike
Feet of Frontage: 919
Traffic/Vehicle Count: 38,317
Highway Access: Hwy 30 and Hwy 11
Airports: Mcminn and Monroe
Site Description: A 6 unit apartment sits on the corner of the property and brings in an income. The property is visible from both sides of the interstate.
Area Description: Off-Site Recreational ActivitiesAthens Regional Park, 1 mi.Classic Lanes Bowling, 2.3 mi.Snap Fitness, 2.4 mi.The Tanning Co, 2.9 mi.Hollywood Body Spa & Laser, 4 mi.24/7 Family Fitness, 4.4 mi.Prof Park, 4.6 mi.Rock Springs Golf Course, 4.6 mi.Decatur Park, 9.8 mi.Candies Creek Wildlife Management Area, 19.7 mi.Area AttractionsMcMinn County Living Heritage Museum, 3.8 mi.Mayfield Dairy Farms, 4.7 mi.Swift Museum, 8.8 mi.Meigs County Historical Museum, 9.8 mi.The Lost Sea Adventure, 16.3 mi.Hiwassee Ocoee State Park, 21.2 mi.The Sequoyah Birthplace Museum, 30.6 mi.Fort Loudoun State Historic, 30.7 mi.Smoky Mountain Speedway, 39.9 mi.Harrison Bay State Park, 41.9 mi.Great Smoky Mountains National Park, 48.1 mi.
Lot Frontage: 919
Zoning Description: Commercial
Topography: Gently Sloping
Soil Type: Mixed
Available Utilities: Electric
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 11,114 25,222
Median Age: 42.94 40.77
Households: 4,537 10,302

Contact

Photograph of Listing Agent

Wendy J Elliott

Stonecrest Properties Greater Chattanooga REALTORS® Member
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