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    8498 Shawn Ridge Road Harrison, TN 37341

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    Claim this Listing
    For Sale
    $7,600,000

    MULTI_FAMILY - Harrison, TN

    Property size:
    56,640 SF
    Lot size:
    21.26 Acres
    Price / SF:
    $134/SF
    Added:
    Apr 23, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 30 at 7:06 am

    Property Features for 8498 Shawn Ridge Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    50
    Rooms
    Bedroom 33, Bedroom 15, Bedroom 17, Bedroom 13, Bedroom 38, Bedroom 45, Bedroom 41, Bedroom 49, Bedroom 32, Bedroom 26, Bedroom 14, Bedroom 2, Bedroom 40, Bedroom 29, Bedroom 11, Bedroom 19, Bedroom 35, Bedroom 44, Bedroom 9, Bedroom 18, Bedroom 1, Bedroom 5, Bedroom 48, Bedroom 16, Bedroom 37, Bedroom 39, Bedroom 20, Bedroom 47, Bedroom 23, Bedroom 3, Bedroom 31, Bedroom 43, Bedroom 21, Bedroom 50, Bedroom 6, Bedroom 12, Bedroom 46, Bedroom 30, Bedroom 24, Bedroom 4, Bedroom 22, Bedroom 10, Bedroom 34, Bedroom 36, Bedroom 7, Bedroom 42, Bedroom 25, Bedroom 8, Bedroom 28, Bedroom 27
    Parking features
    Driveway, Garage
    Window features
    Insulated Windows, Window Treatments, Vinyl Frames
    Patio and Porch features
    Porch
    Interior features
    Ceiling Fan(s), Eat-in Kitchen, High Speed Internet, Pantry, Tub/shower Combo
    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

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating), Heat Pump (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

    We can help!

    Listing Contact
    Tonya L Wilkey
    Tonya L Wilkey

    Listing agent Tonya L Wilkey License #328732

    Listing office RE/MAX Properties 2242 Encompass Drive, Chattanooga, TN

    Listing date Apr 23, 2026

    MLS# 1533329 Listing URL

    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.

    Overview

    Income Producing Duplex Portfolio

    This portfolio features 22 duplexes, totaling 44 doors, situated on a single street. The properties offer operational efficiency and ease of management. The units have been maintained by the original owners. The portfolio includes a mix of 18 one-level units and 6 two-story units with attached garages. Floor plans vary from 2 bedrooms + den with 1.5 baths to 3 bedrooms + den with 2 full baths. Each unit includes a refrigerator, stove, dishwasher, and laundry hookups. Select units also feature 5x24 dry storage areas. Constructed between 1990 and 2013, the properties have been consistently maintained. The property is located in Harrison, TN. The lot size is 21.26 acres with a total property size of 56640 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Harrison
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.0673
    Latitude
    35.2344

    FAQs

    What type of property is this?
    Duplex - 22 Duplexes (44 doors) on a single street.
    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 $7,600,000.
    What are key features of this property?
    This property features: Entire street of 22 duplexes (44 doors) offered as a single portfolio.; Turnkey investment with a proven track record of stable income and long‑term tenants.; Meticulously maintained by original owners, ensuring consistent care and upkeep.
    (423) 322-6361
    We can help!
    Listing Contact
    Tonya L Wilkey
    Tonya L Wilkey
    Real Estate License ID: 328732
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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