Residential Development Land at Hamilton Place

Vacant Land for Sale
Catylist Listing ID: 30620294
Property Subtypes: Multi-Family, Office, Residential (Single Family), Other
Gross Land Area: 1.83 Acres
Sale Price: $299,900
Unit Price: $163,879 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/21/2021

Overview / Comments

Excellent property for multi unit housing development or possibility for a day care center.

This parcel is easily accessible from Gunbarrel Road and close to the Target retail center.  A curb cut is in place from the round-about recently installed along Igou Gap Road for entry into this approximate 1.8 acre parcel.  Surrounding parcels are zoned R-1 (single family detached), R-3 (multi-family), and RTZ (townhome and single family attached) allowing for a range of development possibilities.  The current zoning is R-1 which should easily allow for 8-12 single family homes to be developed.

A home was previously on the property but has been removed.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 159A B 002
Zoning: R-1
Property Visibility: Excellent
Largest Nearby Street: Gunbarrel Road
Site Description: Parcel is partially cleared where a previous home was situated.
Area Description: East Brainerd and the Hamilton Place Mall area are convenient to all of the amenities residents desire; Hamilton Place Mall is just 1 mile away, Chattanooga Regional Metropolitan Airport is approximately five miles away, and many of the major employers are less than ten miles away (such as Volkswagen, Amazon, and others).
Zoning Description: Current zoning is R-1 (single family residential) allowing for 8-12 homes. Surrounding uses are single family, multi-family, and townhome possibly allowing for upzoning to a higher density, if desired.
Topography: Gently Sloping
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,174 52,228 115,335
Median Age: 40.98 40.46 39.4
Households: 2,481 21,735 46,822


Photograph of Listing Agent

John E Jewell

CBT Commercial Greater Chattanooga REALTORS® Member
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