Stud-Ready Multifamily
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$81.14
Days on Market100
Property Features for 481 Old Chattanooga Pike Southwest
General Information
Standard status
Active
Size
2,773 SF
Total Parking Spaces
25
Property subtype
Multifamily, Retail, Mixed Use
Zoning
Commercial
Building Details
Year Built
1995
Buildings
1
Units
1
Listing Agency:
RE/MAX Renaissance Realtors
Listed By:
Dawn O'Neil · License #302511
(423) 756-5700
Source:
Crexi
Added: Jul 27
Changed: Oct 26
Last Checked: Nov 1 at 3:22AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$20,622
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,440
$412.4K
Cap Rate 7%
$294,600
$294.6K
Cap Rate 9%
$229,133
$229.1K
Market Conditions
NOI Build-Up for 2,773 SF
Gross rent
$39.9K $14.40/SF
− Vacancy
−$2.4K −$0.88/SF
EGI
$37.5K $13.52/SF
− OpEx
−$16.9K −$6.08/SF
NOI
$20.6K $7.44/SF
Area
Bradley County, TN
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,440
Cap Rate 7%
$294,600
Cap Rate 9%
$229,133
Alternative Uses
Best Use
Apartment 5plus
$294.6K
$257.8K – $343.7K
NOI $20,622 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$581.9K
$509.1K – $678.8K
NOI $40,730 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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 $225,000.
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
