Interstate Retail Development Site

Vacant Land for Sale
Catylist Listing ID: 30224266
Property Subtypes: Hospitality, Retail
Gross Land Area: 5 Acres
Sale Price: $750,000
Unit Price: $150,000 Per Acre
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/17/2018

Overview / Comments

Retail development land ideal for multiple Fast Food Restaurant and Hotel pad sites. The property lies adjacent to and in the median of Interstate 24 at Exit 158, just west of where I-24 crosses Nickajack Lake on the Tennessee River, 25 minutes from downtown Chattanooga.

This exit is well known for Tennessee/Alabama Fireworks which lies in the median, identifiable to westbound traffic from 1.25 miles away. The existing fireworks retail site has been acquired by Speedway and will soon be converted to a large travel center, offering enhanced visibility and more direct access for both eastbound and westbound interstate traffic as compared to the Love's Travel Stop to the north.

Access and utilities to this retail site will be provided via an easement across the Speedway site, with shared ingress/egress to TVA Road with Speedway traffic.

Additional land is available to the west in the median, as well as a large tract at the southwest corner of I-24 and TVA Road.

Total Land Available:
Median Tract: Tax Parcel 131 022.00: 83 Acres +/-
Shellmound Tract: Tax Parcel 144 010.00: 166 Acres +/-

Additional Details

Nearest MSA: Chattanooga
County: Marion
Taxing Authority: Marion County
Tax ID/APN: 131 022.00
Property Visibility: Excellent
Legal Description: Property to be subdivided from the existing parcel. Legal Description TBD based on new survey.
Traffic/Vehicle Count: 48,815
Highway Access: Immediately Adjacent to I-24 at Exit 158
Topography: Rolling
Easements: Ingress/Egress, Utilities
Easements Description: Access and utilities to this retail site will be provided via an easement across the Speedway site, with shared ingress/egress to TVA Road with Speedway traffic. Easements will be required across the subject site to provide access and utilities to the remainder of the large tract to the west.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,027 4,209 7,219
Median Age: 39.39 42.44 42.05
Households: 401 1,720 2,943
The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.