615-861-9906
721 Broad St, Chattanooga, TN for Sale
Apartments - FOR SALE
1/47
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721 Broad St
Chattanooga, TN 37402
City Center


HIGHLIGHTS

  • Organic Rent Growth Headroom Bolstered by Class A Luxury Competitors
  • Operational Efficiencies Upside Through Professional 3rd Party Management
  • Premier Apartment Community with Bestin-Class Amenities and Unit Finishes
  • Historic Asset Below Replacement Cost in the Heart of Downtown Chattanooga
  • Unrivaled Downtown Location Surrounded by Chattanooga’s Top Destinations

OVERVIEW

The Maclellan presents a rare opportunity to acquire a fully renovated, historic landmark multifamily asset in the heart of Downtown Chattanooga at a substantial discount to replacement cost. With modernized interiors, best-in-class amenities, and a premier walkable location surrounded by the city’s top employers, retailers, and attractions, The Maclellan competes directly with newer construction Class A properties while maintaining significant upside through organic rent growth and operational efficiencies. Current ownership has managed the asset since rehabilitation and lease-up, offering new ownership the ability to unlock value through professional third-party management and increased ancillary income. With below-market rents, high-end finishes, and no near-term capital needs, The Maclellan stands out as a prime, historic turnkey investment opportunity in one of Tennessee’s most dynamic markets.

FOR SALE DETAILS

PRICE

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# OF UNITS

85

CAP RATE

Request Cap Rate

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Maclellan

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

12

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

C3

APN/PARCEL ID

145CB-A-005

ASK ABOUT THIS PROPERTY

Adam KlenkNorthmarqMore Info
615-861-9906

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Adam KlenkNorthmarqMore Info
615-861-9906

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.