1001 Reads Lake Rd Chattanooga, TN 37415

This exceptional 6.5+ acre property in Chattanooga, Tennessee, presents a unique redevelopment opportunity. Located at 1001 Reads Lake Rd, 37415, this site boasts a 20,514 square foot, three-story building currently in shell condition, previously used as a golf clubhouse. The property is ideally situated adjacent to Walden's Ridge Park, a premier mountain biking park, offering spectacular views and easy access to outdoor recreation. The site is spot-zoned C-2 and R-1, allowing for diverse development options. Preliminary plans are complete for a mixed-use development including a hotel conversion or the construction of 24 townhomes, 12 condos, and 5,000 square feet of commercial space. Phase 1 environmental and feasibility studies, along with preliminary engineering plans, have been completed. A building scan and architectural floor plans for the condo conversion and commercial space are available. The existing building has been stabilized and is secured with construction fencing. The property includes approximately 3.5 acres of R-1 zoned land, priced separately at $730,000. The C-2 zoned land, existing building, and parking field are offered together for $1,470,000. The parking lot is currently under a one-year lease to Hamilton County, expiring October 2024. A preliminary plat showing the property division between R-1 and C-2 zones is available for review. This prime location offers an 11-minute drive to Chattanooga's city center with only one stoplight. This is an exceptional investment opportunity in a rapidly growing area.