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1211 S Lee Hwy
Cleveland, TN 37311 Downtown Cleveland

Price Upon Request

Apartments For Sale  •  24,416 SF

Property Details

  • Property Type Apartments
  • Total Building Size 24,416 SF
  • Lot Size 1.36 AC
  • Building Class C
  • Year Built 1944
  • Zoning CH
0 Transit Score
36 Walk Score

Highlights

High-yield 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.

Amenities

  • 24 Hour Access
  • Tub/Shower

Public Transportation

AirportDriveWalkDistance
Lovell Field 34 min - 23.3 mi