**For Sale: Prime Development Opportunity – 8-Unit Apartment Complex in Red Bank, TN**

**Location:** 125 E Frontage Road, Red Bank, TN 37405

**Price:** $1,1580,000.00

**Overview:**
Presenting a unique investment opportunity, this 8-unit apartment complex offers significant potential for redevelopment and income growth. Strategically located near downtown Chattanooga and major interstates, this property is perfectly positioned for conversion into a larger multi-unit building.

**  Potenial Income:**
- **Potenial Gross Monthly Income:** $12,332.00
- ** Potenial Annual Gross Income:** $147,984.00

**Development Potential:**
- **Proposed Conversion:** Transform this 8-unit complex into a 40-unit apartment building.
- **Estimated Land Cost:** $1,200,000.00
- **Estimated Construction Cost:** $5,000,000.00
- **Total Estimated Cost:** $6,200,000.00

**Market Insights:**
- **Average Rent for a 2-Bedroom Apartment:** $2,200.00/month
- **Projected Total Annual Rent (40 Units):** $1,056,000.00
- **Estimated Annual Expenses (30%):** $316,800.00
- **Estimated Net Operating Income (NOI):** $739,200.00 (approximately $700,000.00)

**Valuation:**
- **Cap Rate:** 6%
- **Estimated Value of Completed Development:** $11.6M

This property presents an exceptional opportunity for savvy investors looking to capitalize on a prime location with high growth potential. The figures provided are preliminary estimates, with final costs to be determined following construction bids.

For more information or to schedule a viewing, please contact us today.

Owner/agent.