New

$1,299,000

A day ago

916 Airport Rd, Chattanooga, TN

Name: 916 Airport Rd, For Sale in CHATTANOOGA - eXp Realty
Brand: Horizon Sotheby's International Realty
SKU: 1528506
Price: 1299000 USD

0 Bed

0 Bath

5040 sqft

MLS® 1528506

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential Income

Size 5040 sqft

Garage No

Taxes $897

Days Active 1

Lot Size 0.6 acres

Approx. Age 2026

Avg. Price Per Sqft $257

MLS® Number 1528506

Property Address: 916 Airport Rd, CHATTANOOGA, TN, 37421-3530

Average square foot calculated using Size range provided by listing agent.

Description

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.

MLS® Number1528506

Laundry Level

Central VacNo

FireplaceNo

Acreage0.6

Exterior

GarageNo

Approx. Age2026

Basement

DrivewayConcrete

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Feb 13, 2026List Date

$1,299,000List Price

Dec 19, 2023End Date

$85,000Sold Price

Sold

Sep 30, 2024List Date

$97,000List Price

Commute

Commute

Starting Address

Destination Address

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