405 Chickamauga DrDayton, TN 37321

  • Hospitality properties
  • 23,874 SF
For Sale
$3,200,000 View listing

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

405 Chickamauga Dr, Dayton, Tennessee

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
-
$54,920
$767,120
$822,040
-
$137,300
$1,917,800
$2,055,100

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