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7356 Lee Hwy 67 Unit Mobile Home Park $9,771,440 CAD ($145,842 CAD/Unit) Chattanooga, TN 37421
INVESTMENT HIGHLIGHTS
- Property has been in the same family since 1950, originally a farm.
EXECUTIVE SUMMARY
Mobile home park with redevelopment opportunity. Prime redevelopment site with excellent access to I-75 at Exit 7 (Bonnie Oaks) and Exit 5 (Shallowford Road), currently zoned R-MH under Chattanooga’s updated -new zoning… Note: the zoning change is currently under a grace period, see link below for more details. Previously zoned R-3, offering potential for up to 24 units per acre suggest a high possibility of successful rezone to the new RN-3, allowing for up to 45 units per acre. Assuming a realistic single phase density of 300 garden style units, the land basis price is $23,334/unit ($7mm). https://chcrpa.org/news/new-zoning-map/
PROPERTY FACTS
| Price | $9,771,440 CAD | Building Class | C |
| Price Per Unit | $145,842 CAD | Lot Size | 14.83 AC |
| Sale Type | Investment | Building Size | 35,316 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 67 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | COMM - Commercial | ||
| Price | $9,771,440 CAD |
| Price Per Unit | $145,842 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 67 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 14.83 AC |
| Building Size | 35,316 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Zoning | COMM - Commercial |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 67 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 139J-C-007 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $978,629 CAD |
PROPERTY TAXES
Parcel Number
139J-C-007
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$978,629 CAD
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7356 Lee Hwy
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