770-855-8976
1211 S Lee Hwy
Cleveland, TN 37311
Downtown Cleveland
HIGHLIGHTS
- High-yield multifamily investment that is operational and performing well, with a proforma NOI above $300,000.
- Property underwent renovations in 2022-2024 that included new HVAC, roofing, dry wall, electrical, bathrooms, parking lot, and exterior paint work.
- Well-positioned asset on a spacious 1.36-acre lot just off the highly trafficked Lee Highway/Highway 64, exposing the property to over 12,000 VPD.
- Highly desirable location just minutes from Downtown Cleveland and near amenities such as Dollar General, Starbucks, Dollar Tree, and many more.
- Growing Tennessee city with over 121,000 residents in a 10-mile radius (projected to be 128,000 by 2029), with an average household income over $79K.
- Buyers stands to benefit greatly by adding an online marketing presence, something the property has not utilized.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
Strong NOI | High Yield Opportunity MF
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1944
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.36 AC
LAND SF
59,242 SF
ZONING
CH
APN/PARCEL ID
057B-J-007.00,057B-K-002.00
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770-855-8976
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770-855-8976
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