405 Chickamauga DrDayton, TN 37321
- Hospitality properties
- 23,874 SF
Property Details for 405 Chickamauga Dr
- Year built
- 2021
- Lot size
- 0.74 AC
- Property size (Sq ft)
- 23,874 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
- APN
- 090P C 00700
- APU
- 090PC00700
Description
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
Location Insight
- City
- Dayton
- County
- Rhea
- State
- Tennessee
- Latitude
- 35.4924
- Longitude
- -85.0074
- CBSA code
- 19420
- CBSA name
- DAYTON, TN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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