PRIME HIGH-TRAFFIC COMMERCIAL OPPORTUNITY ON HWY. 64 WITH EXCEPTIONAL ROAD FRONTAGE AND VISIBILITY! Strategically positioned along Waterlevel Highway (Hwy. 64), one of the area's busiest and most heavily traveled corridors, this property offers approximately 506 feet of road frontage with outstanding exposure and accessibility--ideal for commercial development, retail, service-based businesses, or long-term investment. The site includes multiple existing structures that provide immediate income potential and flexible use while planning future redevelopment. A full brick structure currently configured as a 3-bedroom, 1.5-bath residence, along with a detached 1-bedroom, 1-bath unit, offers opportunities for office conversion, rental income, or interim business operations. An additional detached garage/workshop--featuring 3-phase wiring, a storage room, and a half bathroom--is currently leased on a month-to-month basis for $1,100, generating instant revenue. With strong traffic counts, excellent visibility, and substantial frontage, this property is well-suited for investors, developers, or business owners seeking a high-exposure location in a growing commercial corridor. Rare opportunity to secure a large footprint on Hwy. 64 with immediate income and significant upside potential. (Tiny home conveys. Mobile home does not remain.) Call for additional details or to schedule a private tour.
For sale
Price cut: $45.1K (8/14)
$549,900
5714 Waterlevel Hwy, Cleveland, TN 37323
4beds
1,363sqft
Mixed Use
Built in 1968
-- sqft lot
$529,900 Zestimate®
$403/sqft
$-- HOA
What's special
Half bathroomFull brick structureStorage roomSubstantial frontage
- 184 days
- 71
- 1
Zillow last checked:
Listing updated:
Listed by:
Melody Smith 423-595-0199,
Compass Group Realty,LLC 423-584-5577
Source: Greater Chattanooga Realtors,MLS#: 1531360
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 2
- 1/2 bathrooms: 2
Heating
- Central, Electric
Cooling
- Central Air, Ceiling Fan(s), Electric
Appliances
- Included: Dishwasher, Electric Water Heater, Microwave
- Laundry: Electric Dryer Hookup, Laundry Room, Main Level, Washer Hookup
Features
- Ceiling Fan(s), High Speed Internet, Tub/shower Combo, En Suite
- Flooring: Carpet, Laminate, Luxury Vinyl, Vinyl
- Windows: Aluminum Frames, Blinds, Drapes
- Has basement: No
- Number of fireplaces: 1
- Fireplace features: Living Room
Interior area
- Total structure area: 1,363
- Total interior livable area: 1,363 sqft
- Finished area above ground: 1,363
Property
Parking
- Total spaces: 2
- Parking features: Asphalt, Paved
- Carport spaces: 2
Features
- Levels: One
- Stories: 1
- Patio & porch: Front Porch, Porch - Covered
- Exterior features: Private Yard, Rain Gutters, Storage
Lot
- Size: 0.9 Acres
- Dimensions: 506 x 131 x 516 x 67
- Features: Back Yard, Cleared, Front Yard, Level
Details
- Additional structures: Garage(s), Outbuilding, Second Residence, Storage, Workshop
- Parcel number: 060 04700 000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Mixed Use
Materials
- Brick
- Foundation: Brick/Mortar
- Roof: Shingle
Condition
- New construction: No
- Year built: 1968
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
- Utilities for property: Cable Available, Electricity Connected, Other, Phone Available, See Remarks, Water Available
Community & HOA
Community
- Features: Other
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Cleveland
Financial & listing details
- Price per square foot: $403/sqft
- Tax assessed value: $298,400
- Annual tax amount: $919
- Date on market: 3/29/2026
- Listing terms: Cash,Conventional,FHA,USDA Loan,VA Loan
- Road surface type: Paved
Estimated market value
$529,900
$503,000 - $556,000
$1,265/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/14/2026 | Price change | $549,900-7.6%$403/sqft |
Source: Greater Chattanooga Realtors #1531360 Report a problem | ||
| 3/28/2026 | Listed for sale | $595,000$437/sqft |
Source:  RCAR #20261589 Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 5/22/2014 | Listing removed | $1,100$1/sqft |
Source: Owner Report a problem | ||
| 5/14/2014 | Listed for rent | $1,100$1/sqft |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $74,600 +53.9% |
| 2024 | $870 | $48,475 |
| 2023 | $870 | $48,475 |
| 2022 | $870 | $48,475 |
| 2021 | $870 +8.5% | $48,475 +34.3% |
| 2019 | $802 +5.9% | $36,100 |
| 2018 | $758 0% | -- |
| 2017 | $758 +0.4% | -- |
| 2016 | $755 | -- |
| 2015 | $755 +3.6% | -- |
| 2014 | $729 | -- |
| 2013 | -- | -- |
| 2006 | $660 | $30,825 |
| 2005 | $660 +1.2% | $30,825 +9.2% |
| 2004 | $652 -2.4% | $28,225 -2.4% |
| 2003 | $668 | $28,925 +11.4% |
| 2001 | -- | $25,955 -75% |
| 2000 | -- | $103,821 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 37323
Nearby schools
Schools provided by the listing agent
- Elementary: Park View Elementary
- Middle: Lake Forest Middle
- High: Bradley Central High
Source: Greater Chattanooga Realtors. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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