For Sale
$1,470,000

1001 Reads Lake RdChattanooga, TN 37415

6.5+ acre redevelopment opportunity in Chattanooga, TN

Overview

Added:
Dec 11, 2024
Days on market:
113
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.

Highlights

  • $1,470,000 asking price for a 20,514 square foot special purpose property.
  • Located at 1001 Reads Lake Rd, Chattanooga, TN 37415.
  • Property includes a 20,514 SF building on 6.5+ acres, zoned C-2 and R-1.
  • Existing building is stabilized and in shell condition, suitable for hotel conversion or residential development (24 townhomes, 12 condos, 5,000 SF commercial).
  • Adjacent to Walden's Ridge Park, a popular mountain biking park.

Property Details for 1001 Reads Lake Rd

Property type
Golf courses & driving ranges, Specialty properties
Square Feet
20,514 SF
Buildings
1
Stories
3

Location Insight

City
Chattanooga
County
Hamilton
State
Tennessee
Latitude
35.1367698
Longitude
-85.3060023
1001 Reads Lake Rd, Chattanooga, Tennessee

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1001 Reads Lake Rd
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