916 Airport Road, Chattanooga, TN 37421 (MLS# 1528506)

916 Airport Road, Chattanooga, TN 37421

$1,299,000

Property Type: Residential Income Square Footage: 5,040 Lot Size (sq. ft.): 26,136 Status: Contingent

Current Price: $1,299,000 List Date: 2/13/2026 Last Modified: 4/27/2026

Overview

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 le ... (Read more)

Listing Details MLS# 1528506

General Property Information

Number Of Units Total: 6
Living Area: 5040
Living Area Source: Tax Records
Enhanced Accessible: No
Year Built: 2026
ADU YN: No
STVR YN: No
New Construction YN: Yes
Home Warranty YN: No
Lot Size Acres: 0.6
Lot Size Square Feet: 26136
Lot Size Dimensions: 190X165
Association YN: No
View YN: No
Waterfront YN: No
Basement YN: No
Fireplace YN: No
Senior Community YN: No
List Price/SqFt: 257.74

Property Features

Cooling: Central Air Listing Terms: Cash; Special Funding Parking Features: Concrete Sewer: Public Sewer Structure Type: Multi Family Utilities: Electricity Available Water Source: Public Documents: TN Prop Cond Disc or Exempt

Contract Information

Auction YN: No
Listing Contract Date: 2026-02-13
Equitable Ownership Interest Listing: No
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 916
Street Name: Airport
Street Suffix: Road
County: Hamilton
State: TN
Postal Code: 37421
Subdivision Name: None
MLS Area Major: Chattanooga

Remarks and Miscellaneous

Public Remarks: 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.
Directions: From I-75, take Exit 5 for Shallowford Road and head west toward Highway 153. Turn right onto Airport Road, and 916 Airport Road will be on your left just before reaching Chattanooga Metropolitan Airport.

Status Change Information

Major Change Timestamp: 2026-04-27T15:56:27Z
Major Change Type: Status Change
Status Change Timestamp: 2026-04-27
Under Contract Date: 2026-04-26

More Information

Unit 1

Unit Number: 102
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

Unit 2

Unit Number: 106
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

Unit 3

Unit Number: 110
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

Unit 4

Unit Number: 118
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

Unit 5

Unit Number: 122
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

Unit 6

Unit Number: 126
Unit SqFt: 840
Total Full Baths: Yes
Efficiency: No
Furnished: Unfurnished
Den: No
Kitchen: Yes
Living Room: Yes
Separate Dining: No
Microwave: Yes
Refrigerator: Yes
Stove: Yes
Washer Dryer Hookups: Yes
Unit Remarks: vacant/new
Actual Rent: 0

License Number Info

Listing Agent’s State of Licensure: TN
Listing Agent’s License Number: 375256
Listing Office’s State of Licensure: TN
Listing Office’s License Number: 213827

Location, Tax, and Legal

Parcel Number: 148p E 013
Office Exclusive: No
Elementary School: Bess T. Shepherd Elementary
Middle Or Junior School: Tyner Middle Academy
High School: Tyner Academy
Tax Annual Amount: 897.46
Tax Legal Description: Nw 1/4 Sec 16 Twp 2 R-3
Deed Book: 13481
Deed Page: 772

Listing Terms

Cash: Yes
Special Funding: Yes

Sewer

Public Sewer: Yes

Utilities

Electricity Available: Yes

Water Source

Public: Yes

Cooling

Central Air: Yes

Parking Features

Concrete: Yes

Structure Type

Multi Family: Yes

Documents

TN Prop Cond Disc or Exempt: Yes

Documents

TN Prop Cond Disc or Exempt ›

Listing Office: Horizon Sotheby's International Realty

Last Updated: April - 27 - 2026

Information deemed reliable but not guaranteed.