Stud-Ready Multifamily
New
For Sale
Contact for pricing
481 Old Chattanooga Pike Southwest, Cleveland, TN 37311
Multifamily property built in 1995 and brought down to the stud, ready for your buildout.
Property Size2,773 SF
Price / SF$84.75
Days on Market5
Property Features for 481 Old Chattanooga Pike Southwest
General Information
Standard status
Active
Size
2,773 SF
Property subtype
Multifamily, Retail, Mixed Use
Building Details
Year Built
1995
Listing Agency:
RE/MAX Renaissance Realtors
(423) 838-0373
Listed By:
Dawn O'Neil · License #302511
Source:
Crexi
Added: Jul 27
Changed: Jul 31
Last Checked: Jul 31 at 4:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Renaissance Realtors
Investment Insights
Based on property information with market context.
A stud-ready multifamily property built in 1995, now brought down to the stud and ready for your buildout. The existing structure is stripped for a renovation and interior improvements can be planned around the current shell.
The property is located at 481 Old Chattanooga Pike Southwest in Cleveland, TN 37311. With the home in its current condition, the space can be tailored to your preferred multifamily layout and finishing scope while working from the established framework.
Property size is listed at 2,773, providing a defined footprint for interior planning and potential reconfiguration as part of your redevelopment strategy.
The property is located at 481 Old Chattanooga Pike Southwest in Cleveland, TN 37311. With the home in its current condition, the space can be tailored to your preferred multifamily layout and finishing scope while working from the established framework.
Property size is listed at 2,773, providing a defined footprint for interior planning and potential reconfiguration as part of your redevelopment strategy.
Key Highlights
- Brought down to the stud for renovation and buildout
- Multifamily property built in 1995
- 2,773 property size
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.9k | $14.40 |
| − Vacancy | −$2.4k | −$0.88 |
| EGI | $37.5k | $13.52 |
| − OpEx | −$16.9k | −$6.08 |
| NOI | $20.6k | $7.44 |
2,773 SF · lease $14.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Retail
$374.4K
$327.6K – $436.8K
NOI $26,205 @ 7.0% cap · market cap 11.15%
Second Best
Apartment 5plus
$294.6K
$257.8K – $343.7K
NOI $20,622 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$581.9K
$509.1K – $678.8K
NOI $40,730 @ 7.0% cap · market cap 17.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property built in 1995 and brought down to the stud, ready for your buildout.
Where is this multifamily property located?
The property is located at 481 Old Chattanooga Pike Southwest Cleveland, TN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Brought down to the stud for renovation and buildout; Multifamily property built in 1995; 2,773 property size
