Duplex Portfolio with Attached
For Sale
$6,999,999
8498 Shawn Ridge Road, Harrison, TN 37341
MULTI_FAMILY - Harrison, TN
Property Size56,640 SF
Lot Size21.26 Acres
Price / SF$123.59
Days on Market105
Property Features for 8498 Shawn Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
50
Bathrooms
40
Full bathrooms
40
Rooms
Bedroom 6, Bathroom 22, Bathroom 35, Bedroom 42, Bedroom 34, Bathroom 26, Bathroom 8, Bedroom 28, Bathroom 12, Bedroom 44, Bathroom 18, Bathroom 5, Bedroom 7, Bedroom 26, Bedroom 43, Bathroom 28, Bedroom 4, Bathroom 21, Bathroom 16, Bathroom 37, Bedroom 35, Bathroom 23, Bathroom 9, Bedroom 46, Bedroom 22, Bedroom 37, Bathroom 1, Bathroom 31, Bedroom 40, Bedroom 25, Bathroom 2, Bedroom 10, Bedroom 12, Bedroom 14, Bedroom 39, Bedroom 29, Bedroom 13, Bedroom 47, Bedroom 20, Bathroom 20, Bathroom 6, Bathroom 40, Bedroom 18, Bedroom 24, Bathroom 10, Bathroom 25, Bedroom 17, Bathroom 3, Bedroom 49, Bathroom 27, Bedroom 30, Bathroom 4, Bathroom 38, Bedroom 27, Bathroom 29, Bathroom 13, Bathroom 34, Bedroom 11, Bedroom 23, Bathroom 24, Bathroom 14, Bedroom 38, Bedroom 1, Bedroom 3, Bedroom 41, Bedroom 9, Bathroom 19, Bedroom 33, Bedroom 16, Bathroom 33, Bedroom 2, Bedroom 32, Bedroom 45, Bedroom 5, Bedroom 8, Bedroom 50, Bathroom 17, Bathroom 32, Bedroom 19, Bedroom 31, Bathroom 15, Bedroom 21, Bedroom 36, Bathroom 7, Bedroom 15, Bathroom 39, Bathroom 36, Bedroom 48, Bathroom 30, Bathroom 11
Parking features
Driveway, Garage
Window features
Vinyl Frames, Insulated Windows, Window Treatments
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Eat-in Kitchen, High Speed Internet, Pantry, Tub/shower Combo
Subdivision
Shawn Ridge
Lot features
Back Yard, Corners Marked, Cul-De-Sac, Subdivided
Elementary school
Snow Hill Elementary
Middle school
Brown Middle
High school
Central High School
Directions
N on TN-58, turn left onto Ramsey Road, turn left onto Shawn Ridge Road.
Standard status
Active
APN
094h B 007.06
Size
56,640 SF
Lot size
21.26 Acres
Taxes and HOA fees
Tax Description
LT 21 SHAWN RIDGE SUB PH 2 PB73 PG1 99 REV 97-53 OUT OF 94-28 FOR 2004
Tax Annual Amount
44843
Legal Description
LT 21 SHAWN RIDGE SUB PH 2 PB73 PG1 99 REV 97-53 OUT OF 94-28 FOR 2004
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2013
Floors in Building
2
Number of units
44
Flooring type
Vinyl, Carpet, Linoleum
Building materials
Block, Brick, Vinyl Siding
Roof type
Shingle
Listing Agency:
RE/MAX Properties · RE/MAX International
(423) 894-2900
Listed By:
Tonya L Wilkey · License #328732
(423) 322-6361
Added: Apr 23
Changed: Aug 1
Last Checked: Aug 5 at 3:06AM
MLS# 1533329
Copyright © 2026 Greater Chattanooga 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.
Investment Insights
Based on property information with market context.
This apartment-style multifamily portfolio features 22 duplexes totaling 44 doors. The units are maintained with an emphasis on resident convenience, and include in-unit refrigerator, stove, dishwasher, and laundry hookups. Floor plans vary, including configurations described as 2 bedrooms plus den with 1.5 baths through 3 bedrooms plus den with 2 full baths. Select units also include 5x24 dry storage areas.
The property is sited on 21.26 acres and built using block, brick, and vinyl siding with shingle roofing. Heating is provided by central and heat pump systems, along with electric heating options, and cooling includes central air and ceiling fans. Parking is supported by driveways and attached garages, and the residences include a porch.
Utilities include public water service and a septic tank system, with cable available. Interior finishes and features include eat-in kitchens, pantries, and tub/shower combinations.
The property is sited on 21.26 acres and built using block, brick, and vinyl siding with shingle roofing. Heating is provided by central and heat pump systems, along with electric heating options, and cooling includes central air and ceiling fans. Parking is supported by driveways and attached garages, and the residences include a porch.
Utilities include public water service and a septic tank system, with cable available. Interior finishes and features include eat-in kitchens, pantries, and tub/shower combinations.
Key Highlights
- 22 duplexes totaling 44 doors
- 5x24 dry storage areas in select units
- 21.26 acres
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 | $904.0k | $15.96 |
| − Vacancy | −$109.4k | −$1.93 |
| EGI | $794.6k | $14.03 |
| − OpEx | −$357.6k | −$6.31 |
| NOI | $437.0k | $7.72 |
56,640 SF · lease $15.96/SF/yr · vacancy 12.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.24M
$5.46M – $7.28M
NOI $437,026 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$9.41M
$8.23M – $10.97M
NOI $658,398 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
44
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 37341, TN
12,900
Population
6,034
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
33.8 sq mi
ZIP Area
382
Density / Sq Mi
$93,114
Median Household Income
$48,503
Median Earnings
$1,229
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio of 22 duplexes totaling 44 doors, with attached garages and in-unit appliances plus laundry hookups.
Where is this apartment building located?
The property is located at 8498 Shawn Ridge Road Harrison, TN.
What is the asking price?
The asking price for this property is $6,999,999.
What are key features of this property?
This property features: 22 duplexes totaling 44 doors; 5x24 dry storage areas in select units; 21.26 acres
