Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Dayton TN Apartment Investment Title is generated by Realmo AI

    124 Deer Ridge Drive, Dayton, TN 37321

    View on Map
    Claim this Listing
    For Sale
    $2,350,000

    COMMERCIAL - Dayton, TN

    Property size:
    4,026 SF
    Lot size:
    0.97 Acres
    Price / SF:
    $583/SF
    Added:
    Jun 24, 2025
    Days on Market:
    325
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 124 Deer Ridge Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    On Street
    Interior features
    Open Floorplan
    Appliances
    Dishwasher, Electric Range, Refrigerator
    Standard status
    Active
    APN
    090 01406 000
    Size
    4,026 SF
    Lot size
    0.97 Acres

    Taxes and HOA fees

    Tax Annual Amount
    11281

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Private

    Building Details

    Year built
    1994
    Flooring type
    Vinyl
    Building materials
    Brick Veneer
    Roof type
    Shingle

    We can help!

    Listing Contact
    Anneke Wilkey

    Listing agent Anneke Wilkey License #304812

    Listing office Coldwell Banker Pryor Realty- Dayton 3981 Rhea County Highway, Dayton, TN

    Listing date Jun 24, 2025

    MLS# 20252828

    Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Guaranteed Leaseback: Seller will lease back all 16 units at $950/month per unit for 5‑10 years.
    • Comprehensive Landlord Coverage: Lease includes lawn care, air filters, pest control, bi‑monthly cleanings, and basic maintenance.
    • Free Property Management: Seller provides free property management under the lease agreement.
    • Additional Investment Opportunity: Option to purchase 42 additional units for $5,600,000.00.
    • Low‑Maintenance Construction: Built with durable brick veneer.
    • Essential Appliances Included: Each unit is equipped with a dishwasher, electric range, and refrigerator.

    Overview

    This commercial property in Dayton, TN, features 16 apartments available for sale at Small Town Senior Living. The property, zoned for commercial use, spans 4,026 square feet and is situated on a 0.97-acre lot. The seller is open to a leaseback agreement at $950 per month for each unit, with lease terms ranging from 5 to 10 years. The lease includes lawn care, air filter maintenance, pest control, bi-monthly cleanings, basic maintenance, and property management. There is also an option to purchase an additional 42 units for $5,600,000.00.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dayton
    County
    Rhea
    State
    Tennessee
    Longitude
    -84.992533
    Latitude
    35.499079

    Nearby Similar for Sale

    • $479,900
      10,200 SF

      Commercial Property on Three Lots

      Commercial buildings with highway frontage, suitable for garage or storage.
      5809 Old Washington Highway, Dayton, TN 37321
      View Details
    • $319,000
      2,560 SF

      Renovated Duplex in Dayton, TN

      Updated duplex with open floor plans and newer appliances.
      363 Hidden Hills Drive, Dayton, TN 37321
      View Details
    • $545,000
      7,500 SF

      Dayton Commercial Multi-Use Building

      7500 sqft multi-use commercial building in Dayton, Tennessee.
      1459 Railroad Street, Dayton, TN 37321
      View Details
    • $250,000
      200 SF

      Dayton, TN Restaurant Opportunity

      Restaurant space with outdoor seating and high visibility in Dayton.
      268 Richland Street, Dayton, TN 37321
      View Details
    • $450,000
      2,900 SF

      Dayton Commercial Building For Sale

      2,900 sq ft commercial building in prime Dayton location.
      585 Richland Street, Dayton, TN 37321
      View Details
    • $2,650,000
      10,728 SF

      Dayton Multifamily Investment Opportunity

      Six duplexes and one quadplex with five new duplexes under construction.
      1305 Old Washington Highway, Dayton, TN 37321
      View Details
    • $1,488,000
      3,660 SF

      Historic Dayton Building For Sale

      Tri-level building in downtown Dayton with income potential.
      1441 Market Street, Dayton, TN 37321
      View Details
    • $450,000
      2,900 SF

      Dayton Commercial Building Opportunity

      2,900 sq ft commercial building near downtown Dayton.
      585 Richland Street, Dayton, TN 37321
      View Details
    • $1,488,000
      3,660 SF

      Historic Tri-Level Dayton Building

      Stunning tri-level building in downtown Dayton with income potential.
      1441 Market Street, Dayton, TN 37321
      View Details
    • $3,980,000
      22,528 SF

      Converted Multifamily Property in Dayton

      22,528 SF property with 31 units, converted in 2025.
      405 Chickamauga Drive, Dayton, TN 37321
      View Details
    • $1,488,000
      6,300 SF

      Historic Downtown Dayton Tri-Level Building

      Tri-level building in Dayton's Historic District, potential for various uses.
      1441 Market St, Dayton, TN 37321
      View Details
    • $299,000
      1,216 SF

      5 Acre Tract with Pond

      Move-in ready home on 5 acres with spring-fed pond.
      1887 Maple Spring Road, Dayton, TN 37321
      View Details

    FAQs

    What type of property is this?
    Apartment building - Sixteen apartments for sale with leaseback option in Dayton, TN.
    Where is this apartment building located?
    The property is located at 124 Deer Ridge Drive Dayton, TN.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Guaranteed Leaseback: Seller will lease back all 16 units at $950/month per unit for 5‑10 years.; Comprehensive Landlord Coverage: Lease includes lawn care, air filters, pest control, bi‑monthly cleanings, and basic maintenance.; Free Property Management: Seller provides free property management under the lease agreement.
    (423) 580-7794
    We can help!
    Listing Contact
    Anneke Wilkey
    Real Estate License ID: 304812
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    124 Deer Ridge Drive, Dayton, TN 37321
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!