405 Chickamauga Dr Dayton, TN 37321

23,874 SF 0.74 ac lot Built 2021

Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity

Property ID

US80-2198525

$3,980,000 23,874 SF

405 Chickamauga Dr, Dayton, TN 37321
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This exceptional 22,528-square-foot Class A apartment building in Dayton, Tennessee presents a compelling redevelopment opportunity. Originally constructed in 2021 as a hotel, the property boasts 26 units and is zoned for commercial hospitality use, making it ideally suited for conversion into much-needed workforce housing. The property sits on a 2.17-acre lot and includes a permitted 1.4-acre adjacent parcel, already zoned and entitled for additional construction, allowing for expansion. Detailed construction plans for a Phase II development, which could add another 26 units, are included in the sale. The building's modern design and spacious layout are well-suited for multifamily use. With a current pro-forma NOI of $296,588 and a 10% cap rate, this $3,200,000 investment offers significant potential for investors seeking strong returns and the ability to address the community's housing needs. The property's address is 405 Chickamauga Dr, Dayton, TN 37321. The APN is 090P C 008.00, 090P C 007.00. This is a fee-simple ownership opportunity