Commercial Land on North Lee Hwy - Cleveland

Vacant Land for Sale
Catylist Listing ID: 30271575
Property Subtypes: Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Vacation/Resort
Gross Land Area: 7.17 Acres
Sale Price: $1,935,900
Unit Price: $270,000 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/14/2018

Overview / Comments

(see drone video link within listing)

This area of North Lee Hwy is experiencing a lot of growth residentially, commercially and otherwise due to the employment and investment in the nearby area. Whirlpool, Wacker, Amazon, Jackson Furniture and Georgia Pacific employ about 4,240 in the nearby area and there has been $2.5 billion spent just with the Wacker facility.

This retail/commercial site has 7.17 acre with 555 feet of frontage along North Lee Hwy and 479 feet of depth. The property is "L" shaped and also has access to Tasso Lane NE. See the attached survey. The property is level with a tree line in the rear otherwise just has low growing bushes on it. The site would make an excellent site for a retail strip center, large gas/c-store or large self-storage development to name a few uses.

Directly behind the site Pratt Development has begun a residential development. Just south of the subject site are two townhome developments underway. Also, just south is the 80-unit apartment development, The Preserve.

The site was recently annexed into the city of Cleveland.The front portion is CH-Commercial Highway and the rear portion is R2. Across the street/highway are currently five highway curb cuts and one street so there should be many opportunities for curb cuts along the subject property.

Seller will consider splitting the property under the right conditions.

Reports available:
Top 20 Manufacturing Companies in Bradley County

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: Cleveland, Bradley County
Tax ID/APN: 034 025.00
Zoning: COMMERCIAL & R2
Property Located Between: North Lee Hwy and Tasso Ln
Property Visibility: Excellent
Legal Description: See survey
Largest Nearby Street: N Lee Hwy
Feet of Frontage: 555
Traffic/Vehicle Count: 10,000
Highway Access: Has 555 feet of frontage on North Lee Hwy just north of Tasso Lane NE. Has 205 feet of frontage on Tasso Lane NE.
Airports: Cleveland/Chattanooga
Site Description: The site is level with no trees. It has 555 feet of frontage on N. Lee Hwy and 205 feet on Tasso Lane NE.
Area Description: The north end of Lee Hwy is growing dramatically. The Wacker and Amazon plant facilities are part of what is driving this growth. Behind the the subject James Pratt is developing a subdivision and just south are two townhome developments and across the street is a new self-storage facility.
Lot Frontage: 555
Lot Depth: 480
Zoning Description: The front front four acres is zoned CH-Commercial Highway. The rear portion is zoned R2.
Development Name: Vacant Land
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 23,389 57,059
Median Age: 40.55 37.57
Households: 9,229 22,061

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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