Building Details

Year Built 1972

Construction brick

Listing Agency: Greater Chattanooga Realty, Keller Williams Realty

Listed By: Gina Shumway · License #TN373412 Show Phone

Source: Fiddletreerealty

Added: Aug 20 Changed: Oct 2 Last Checked: Oct 16 at 11:52AM

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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 Greater Chattanooga Realty, Keller Williams Realty

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Investment Insights

Based on property information with market context.

This 3,888-square-foot apartment property contains 6 units: two 2-bedroom, 1-bath apartments and four 1-bedroom, 1-bath apartments. The brick exterior provides a low-maintenance building envelope, while individual utility metering places utility payments with each tenant. The owner is responsible for trash service. One unit is currently vacant and may be viewed; access to the occupied units is available once under contract.

The property is located at 578 Withrow Rd in Mc Donald, Bradley County, outside the Cleveland city limits. It is positioned near I-75, Cleveland, and Chattanooga, with county-only property taxes applying to the ownership. The unit mix combines one- and two-bedroom layouts within a compact multifamily asset.

Key Highlights

• 6‑unit apartment building with two 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units
• 3,888 square feet of apartment space
• Individually metered units with tenants paying their own utilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,915

Cap Rate

5.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$578,300 $578.3K

Cap Rate 7%

$413,071 $413.1K

Cap Rate 9%

$321,278 $321.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,888 SF

Gross rent

$56.0K $14.40/SF

− Vacancy

−$3.4K −$0.88/SF

EGI

$52.6K $13.52/SF

− OpEx

−$23.7K −$6.08/SF

NOI

$28.9K $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%

$578,300

Cap Rate 7%

$413,071

Cap Rate 9%

$321,278

Alternative Uses

Best Use

Apartment 5plus

$413.1K

$361.4K – $481.9K (±1% cap)

NOI $28,915 @ 7.0% cap · market cap 5.08%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$815.8K

$713.8K – $951.8K (±1% cap)

NOI $57,107 @ 7.0% cap · market cap 10.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Bakery Grocery & Convenience Store Storage Facility Parking Lot & Garage Big Box & Wholesale Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

52

Businesses Nearby

Explore this area Business Placement

Demographics for 37353, TN

5,168

Population

2,081

Households

2.5

Avg Household Size

44

Median Age

30%

College-Educated

90%

High-School Grad

40.5 sq mi

ZIP Area

128

Density / Sq Mi

$66,186

Median Household Income

$42,923

Median Earnings

$976

Median Rent

$221,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Six-unit multifamily property with individually metered apartments and one vacant unit available for viewing.

Where is this apartment building located?

The property is located at 578 Withrow Rd Mc Donald, TN.

What is the asking price?

The asking price for this property is $569,000.

What are key features of this property?

This property features: 6‑unit apartment building with two 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units; 3,888 square feet of apartment space; Individually metered units with tenants paying their own utilities