2400 Executive Park Dr NW, Cleveland, TN 37312

145-Unit Value-Add Conversion Asset | Fully Zoned Apartments | I-75 Access | 8+ Acres

Marketing Description

Fully Zoned for Apartments | 145 Units | Prime I-75 Location | 8+ Acre Site

Property Description

The Loyalty Inn in Cleveland, TN is a fully zoned multifamily conversion opportunity positioned for adaptive reuse into studio apartments or extended stay housing. Located directly off I-75 and situated on over 8 acres, the property offers scale, accessibility, and flexibility for investors targeting workforce housing or hospitality repositioning strategies.

The asset consists of 145 existing units (40 interior corridor and 105 exterior corridor), with renovations already initiated. Kitchenette installations are partially completed, supporting a streamlined transition into fully functional studio units or extended stay accommodations.

Existing amenities include on-site laundry facilities, pet-friendly policies, free Wi-Fi, and an outdoor pool. Additional value-add components include a ~4,000 SF ballroom/meeting space and ~3,000 SF restaurant space, creating multiple potential revenue streams beyond traditional rental income.

With zoning already in place and strong regional demand for affordable and extended stay housing, Loyalty Inn presents a turnkey repositioning opportunity within the Chattanooga–Cleveland growth corridor.

Investment Highlights

• 145 Units (40 Interior / 105 Exterior Corridor)
• Fully Zoned for Apartments
• 8+ Acre Site
• Located Directly off I-75
• Renovations Underway (Kitchenettes in Progress)
• Outdoor Pool
• On-Site Laundry / Laundromat
• Pet-Friendly Property
• Free Wi-Fi
• ±4,000 SF Ballroom / Event Space
• ±3,000 SF Restaurant Space (Additional Income Potential)
• Flexible Exit: Apartments or Extended Stay