ready-to-open

171 Greendale Lane

Price
Listing Tags
Beds
24
Size
14700 sqft
Type
Single Family
171 Greendale Lane

Overview

Tucked into nearly five acres of quiet Tennessee countryside near Chattanooga, 171 Greendale Lane is a sprawling estate-style home offering an exceptional 24 beds across roughly 14,700 square feet. With elegant architectural detailing, expansive grounds, and abundant shared space, this Ready-to-Open property is a rare opportunity to operate a large-scale recovery residence in a peaceful, private setting.

Lease and Income Structure

171 Greendale Lane is a substantial estate home set on approximately 4.7 acres of serene countryside in McDonald, Tennessee, within Bradley County and a short drive from Chattanooga. Spanning roughly 14,700 square feet, the residence is defined by refined architectural elements and generous proportions, including hardwood and tile floors, crown molding, granite surfaces, and custom finishes that give the home a warm yet distinguished feel.

 

The property is configured for community living at scale, offering 24 shared beds and ample common areas for dining, gathering, programming, and quiet reflection. The expansive grounds provide room for outdoor activity and a genuine sense of retreat, while the home's layout supports the structure and routine that a larger supportive residence requires. In Ready-to-Open condition, it can accommodate a sizable resident population with the on-site space needed for house mentors and shared services.

 

Offered at $15,500 per month with a $750 weekly rate per resident and a modest intake fee, 171 Greendale Lane pairs the privacy and tranquility of a rural estate with the capacity of a purpose-scaled facility. For an operator seeking to establish a large, high-quality recovery community in the greater Chattanooga area, this property offers a distinctive combination of size, character, and setting that is difficult to replicate.

Property Financials
Bed Data
Shared Beds 24
Total Beds 24
Vacancy Rate (estimated) 20%
House Mentors 2
Revenue-Producing Beds 17.00
Weekly Rent $750.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $936,000.00
Less: Vacancy & Loss $187,200.00
Less: Mentor Rent Credit $78,000.00
Plus: Intake Fee Revenue $7,600.00
Plus: Laundry Service Revenue $3,952.00
Total Revenue $682,352.00
Expenses (Annual)
Operating Expenses $63,344.00
Property Taxes $6,748.00
Property Insurance $2,600.00
Operator Compensation $24,000.00
Total Expenses $96,692.00
Net Income
Net Operating Income $585,660.00
Valuation
Capitalization Rate 8.50%
Value on Cap Rate $6,890,118.00