916 Airport Rd - Apartments FOR SALE


Chattanooga, TN 37421- Marimont-Old Crab Tree
$1,299,000 USD
404-558-0107
916 Airport Rd, Chattanooga, TN for Sale
$1,299,000 USD
Apartments - FOR SALE
1/26
null | 6.47% Cap Rate

916 Airport Rd
Chattanooga, TN 37421
Marimont-Old Crab Tree


HIGHLIGHTS

  • Chattanooga Multifamily
  • Brand New
  • Location | Amenities

OVERVIEW

Brand new 2026 construction six-unit apartment complex located in Chattanooga's high-demand Airport corridor, currently in active lease-up with projected stabilization within 90 days at approximately $120,000 gross annual income. This stabilized-ready asset features a clean, modern aesthetic with architectural shingle roofing, low-maintenance vinyl siding, full concrete parking, and updated interiors with stainless steel appliances in every unit, offering minimal to zero deferred maintenance for years to come. All units are single-level, providing convenient one-level living with strong accessibility appeal. Utilities are separately metered for electric and water, each unit has individual trash can service, and high-speed internet is available, creating efficient operations and meeting modern tenant expectations. The parcel appears to be located within a Community Reinvestment Act (CRA) eligible lending area, which may provide favorable financing considerations through participating lenders. The unit mix includes two end units projected at $1,800 per month and four interior units projected at $1,600 per month. Projected NOI is approximately $84,000 based on a conservative 70% expense ratio, reflecting an estimated 6.5% cap rate at current pricing assumptions. Professional property management is in place and overseeing lease-up, allowing a new owner to step into a turnkey investment with minimal operational friction. Located minutes from Chattanooga Metropolitan Airport, I-75 and Highway 153, and surrounded by major retail including Hamilton Place and national brands such as Target, Publix, Chick-fil-A, and Starbucks, along with major employers including Volkswagen Chattanooga Assembly Plant and Amazon. Rare small-format new construction multifamily opportunity in one of Chattanooga's most convenient and growth-oriented corridors. Buyer responsible to verify all information deemed important.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$258 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,500

CAP RATE

6.47%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chattanooga | Brand New | 6 Unit Multifamily

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

M1

APN/PARCEL ID

148P-E-013

ASK ABOUT THIS PROPERTY

Justin HoodBerkshire Hathaway Homeservices (E Brainerd)More Info
404-558-0107

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Justin HoodBerkshire Hathaway Homeservices (E Brainerd)More Info
404-558-0107

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