$799,000

About this home

BUYER UNABLE TO OBTAIN FINANCING, BACK ON MARKET. Fantastic opportunity of 5.74 acres for future development. Zoned C-2 and R-3. 0 Vance Rd, parcel 148J A 003 Within 1 mile to Chattanooga Airport, Hamilton Place Mall shopping and eateries, Freeways I-75, Hwy 153. 5.7 acres total, with existing detention pond. Site is currently mostly wooded, except for the access points and pond area. Two access points with frontage on Vance Rd with the bulk of the acreage being zoned R-3 (multifamily) and C-2 (commercial/multifamily) All utilities accessible in Vance Rd, including electric at nearby poles, public water, and sewer. Zoning department has approved the R-3 and C-2 zoned acreage and approved for a density of 1 unit on the first 7,500 SF of land plus an additional unit for every 2,000 SF. An attached 55 Townhomes concept would likely yield something in between the two single family and multi-family concepts. Based on measured acreage, the max density would be 101 units +/-. With the proximity to the airport, Volkswagen Plant, Amazon fulfillment center, and many other commercial/industrial jobs in the area, this would be an ideal site for build-to-rent townhomes or flats. The area is growing, especially heading further east from the city toward Ooltewah. Existing 386-unit apartment project nearby was just completed. Another development of over 150 units is nearing completion. An existing concept showing a moderately dense site plan for 66 flats in two story buildings and an alternate concept for single families. Contact agent for more information and supporting documents.

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