Development Opportunity at Edge of Red Bank & NorthShore

Vacant Land for Sale
Catylist Listing ID: 30384471
Property Subtypes: Residential (Single Family), Other
Gross Land Area: 6.86 Acres
Sale Price: $475,000
Unit Price: $69,241 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 2/22/2019

Overview / Comments

Attention developers and builders! Incredible development opportunity at the edge of Red Bank and NorthShore. These two adjacent parcels totaling 6.86 acres are situated close to Stinger's Ridge. Current RT-1 zoning allows for single family homes or townhomes up to 30 units. A preliminary site plan for townhomes has already been drawn with 24 units, a road, and community lot, and the plans can be re-drawn. If cleared, the lots would offer scenic views of Signal Mountain. Currently, there is a recently remodeled 1,200 sqft home on one of the lots, featuring 3 bedrooms and 2 full baths, which is rented for $1,275 a month. If you're looking for a townhome or zero lot line single-family home development with the opportunity of up to $200/sqft pricing, then you have discovered a golden opportunity. Call today for your private showing.

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Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 126k B 024 And 126k B 004
Zoning: RT-1
Legal Description: Lot 1-2 Midvale Park Ext South Pb 1 5 Pg 6 and Midvale Park Ext South Pb 15 Pg 6
Available Utilities: Electric, Water, Gas, Sewer, Cable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,983 44,961 107,169
Median Age: 33.93 36.49 36.92
Households: 1,894 19,255 44,932


Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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