Rare Mixed-Use Redevelopment Opportunity

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30294814
Property Subtypes: Multi-Family
Status: Pending/Contingent
Gross Land Area: 17.50 Acres
Sale Price: $1,499,997
Unit Price: $85,714 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/26/2020

Overview / Comments

Beautiful 17+ acre tracts on Mountain Creek Rd at the foot of Signal Mountain and minutes from the interstate and Downtown Chattanooga. Much of the front acreage is cleared and level with excellent visibility and easy ingress/egress. The rear 3.6 acre tract is a beautiful example of the Chattanooga mountains and will add a natural beauty to any development.

This is a great opportunity to add to the thriving rental housing market in the area by taking advantage of the potential Mixed-Use zoning with retail, office and multi-family.

Please see attached PDF files for examples of the enormous potential of this property!

Adjacent 30 acres is also available for sale.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 108N A 007, 108N A 006, 108N A 005
Property Located Between: Morrison Springs Rd and Signal Mountain Rd
Property Visibility: Excellent
Feet of Frontage: 385
Site Description: Front acreage is very level while the rear 3.6 acre parcel is steep and rocky
Lot Frontage: 385
Lot Depth: 1437
Zoning Description: R1
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,336 38,555 82,310
Median Age: 40.46 40.31 38.91
Households: 1,188 16,977 35,588

Contact

Photograph of Listing Agent

Virginia F Brockman

KW Commercial Greater Chattanooga REALTORS® Member
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