405 Chickamauga DrDayton, TN 37321

Property Details for 405 Chickamauga Dr

Year built

2021

Lot size

0.74 AC

Property size (Sq ft)

23,874 SF

Property type

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

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