44-Door Duplex
For Sale
$6,500,000
8498 Shawn Ridge Road, Harrison, TN 37341
Residential Income, Harrison, TN
Property Size56,640 SF
Lot Size21.26 Acres
Price / SF$114.76
Days on Market195
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
Bathroom 8, Bedroom 45, Bathroom 21, Bathroom 38, Bedroom 10, Bathroom 6, Bedroom 17, Bathroom 20, Bedroom 42, Bedroom 37, Bedroom 44, Bathroom 36, Bedroom 21, Bedroom 19, Bedroom 32, Bathroom 35, Bathroom 17, Bathroom 14, Bedroom 30, Bathroom 1, Bedroom 36, Bedroom 1, Bedroom 24, Bathroom 27, Bathroom 26, Bedroom 47, Bedroom 46, Bedroom 2, Bathroom 39, Bathroom 37, Bathroom 24, Bedroom 11, Bedroom 18, Bedroom 4, Bathroom 18, Bedroom 14, Bathroom 10, Bedroom 15, Bathroom 4, Bedroom 26, Bedroom 3, Bathroom 5, Bathroom 30, Bathroom 2, Bathroom 16, Bedroom 9, Bathroom 29, Bathroom 12, Bathroom 25, Bedroom 48, Bedroom 28, Bedroom 27, Bedroom 43, Bathroom 33, Bedroom 12, Bathroom 22, Bedroom 35, Bedroom 16, Bedroom 8, Bedroom 6, Bedroom 41, Bathroom 40, Bathroom 32, Bedroom 39, Bedroom 40, Bedroom 13, Bedroom 33, Bedroom 23, Bathroom 34, Bedroom 5, Bedroom 7, Bathroom 13, Bedroom 25, Bedroom 38, Bedroom 49, Bedroom 22, Bedroom 31, Bathroom 7, Bathroom 3, Bathroom 23, Bedroom 50, Bathroom 11, Bathroom 28, Bedroom 29, Bathroom 31, Bathroom 19, Bathroom 15, Bedroom 34, Bedroom 20, Bathroom 9
Parking features
Garage, Driveway
Window features
Window Treatments, Vinyl Frames, Insulated Windows
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
Additional Details
Tenant in Place
Yes
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
Heat Pump (Heating), Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Public
Building Details
Year built
2013
Floors in Building
2
Number of units
44
Flooring type
Carpet, Vinyl, Linoleum
Building materials
Block, Brick, Vinyl Siding
Roof type
Shingle
Buildings
22
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: Oct 23
Last Checked: Nov 3 at 10:06AM
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.
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Investment Insights
Based on property information with market context.
This 22-duplex portfolio comprises 44 doors across 56,640 square feet on 21.26 acres. The properties were built between 1990 and 2013, with the record identifying 2013 as the year built. Floor plans range from two bedrooms plus a den with 1.5 baths to three bedrooms plus a den with two full baths. Select residences include attached garages and 5x24 dry storage areas. Kitchens are equipped with refrigerators, stoves, and dishwashers, and laundry hookups are provided.
The portfolio is situated at 8498 Shawn Ridge Road in Harrison, Tennessee, 37341. Property improvements include block, brick, and vinyl siding; shingle roofs; central air; electric and heat-pump systems; porches; driveways; and ceiling fans. Public water and septic service are identified, with cable availability also noted.
The portfolio is situated at 8498 Shawn Ridge Road in Harrison, Tennessee, 37341. Property improvements include block, brick, and vinyl siding; shingle roofs; central air; electric and heat-pump systems; porches; driveways; and ceiling fans. Public water and septic service are identified, with cable availability also noted.
Key Highlights
- 22 duplexes totaling 44 doors
- 56,640 square feet across 21.26 acres
- Built between 1990 and 2013
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$475,854
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,517,080
$9.5M
Cap Rate 7%
$6,797,914
$6.8M
Cap Rate 9%
$5,287,267
$5.3M
Market Conditions
NOI Build-Up for 56,640 SF
Gross rent
$768.0K $13.56/SF
− Vacancy
−$88.2K −$1.56/SF
EGI
$679.8K $12.00/SF
− OpEx
−$203.9K −$3.60/SF
NOI
$475.9K $8.40/SF
Area
Hamilton County, TN
Vacancy
11.49%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,517,080
Cap Rate 7%
$6,797,914
Cap Rate 9%
$5,287,267
Alternative Uses
Best Use
Multifamily LT 5
$6.80M
$5.95M – $7.93M
NOI $475,854 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$6.24M
$5.46M – $7.28M
NOI $437,026 @ 7.0% cap · market cap 6.72%
Theoretical Best
Healthcare Medical
$9.41M
$8.23M – $10.97M
NOI $658,398 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
44
Residential units
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex portfolio with attached garages, appliance packages, and a mix of single- and two-level residences.
Where is this duplex located?
The property is located at 8498 Shawn Ridge Road Harrison, TN.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 22 duplexes totaling 44 doors; 56,640 square feet across 21.26 acres; Built between 1990 and 2013
