Highway 58 Retail

Retail-Commercial for Lease
Catylist Listing ID: 28437802
Property Subtypes: Mixed Use, Restaurant, Retail-Pad
Contiguous Space: 1,200 - 9,600 SF
Building Size (RSF): 36,510 SF
Gross Building Area: 48,900 SF
Gross Land Area: 5.05 Acres
Lease Rate: $15 PSF (Annual)
Base Monthly Rent: $1,500 - 12,000
Lease Types: NNN
Ceiling: 20 ft.
Last Updated: 6/26/2017

Overview / Comments

Built in 1993, property includes a 48,900 sq. ft. former grocery store that has been redeveloped for use as a climate controlled self-storage facility with additional retail space. Cannon Self Storage and Portabello's Italian Restaurant are current tenants in the bldg. There is a 12,000 sq. ft. retail space available for lease at $15.00/sf/yr (NNN) with build to suit available. Property under new ownership and ready for redevelopment.

There is a large, striped & paved parking lot available to accommodate tenants and their customers. An interior parcel is located in front of lot that is currently owned and operated by Tennessee Valley Credit Union. This is a well established commercial area of Highway 58 occupied by commercial-retail like fast food chains, convenience stores, grocery stores, drug stores and strip centers to meet daily needs of nearby residents. Future development of the area is highly likely due to the recent addition of Volkswagen Assembly Plant and Amazon.com (less than 3 miles away).

Property is situated on a 5.05 acre site that has high visibility with 381 ft. of frontage along Highway 58, which is a major corridor for area residents to access Highway 153. Site also includes a new LED sign for potential advertising opportunities. Traffic counts in excess of 28,000 cars per day. Property features ingress/egress with a location on the "going home" side of Highway 58, traffic signalized access at entrance and right-turn access. With 1.7 mile access to Highway 153, this property is easily accessible from all areas of town.

Expand All Available Space

Suite: 100 9,600 SF $15 PSF (Annual) NNN
Level/Floor: 1
Space Available: 9,600 SF
Minimum Divisible: 1,200 SF
Lease Rate: $15 PSF (Annual)
$1,500 - 12,000 (Monthly)
Lease Type: NNN
Space Description: 12,000 sq. ft. retail space located in a 49,800 sq. ft. commercial building occupied by Cannon Climate Controlled Self-Storage and Portabello's Italian Restaurant. Design your own space with build to suit available. $15.00/sf/yr NNN Lease + $1.50/sf/yr in Operating Expenses
Space Subcategory: Strip Center, Office Building
Date Available: 12/15/2012
Space Type: Relet
Operating Expenses $1.50 PSF (Annual)

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 129B-F-013
Zoning: C-2
Market Type: Large
Property Located Between: Highway 58 and Jersey Pike
Road Type: Highway
Property Visibility: Excellent
Transportation: Shuttle, Highway, Airport, Taxi
Highway Access: 1.7 mile access to Highway 153, which intersects with Highway 27 to the north and Interstate-75 to the south
Airports: Chattanooga Metropolitan Airport - 6.1 Miles
Site Description: 5.05 acre lot; level at road grade; 49,800 commercial-retail bldg.; easy ingress/egress; excellent visibility in high traffic area; quick access to Highway 153;
Area Description: Subject is located along the established corridor of Highway 58 in eastern Chattanooga. Surrounding area is primarily occupied by commercial and retail use. Nearby businesses consist of a collection of non-anchored strip centers, fast food restaurants, drug stores, oil change facilities, cash-checking establishments, liquor stores, auto parts stores, self-storage facilities and professional general office complexes. There is a nearby industrial park off Jersey Pike and Bonny Oaks. The Highway 58 area has been under recent development with the addition of the Volkswagen Assembly Plant and Amazon.com at Enterprise South Park. As a result, future plans for the area include constructing a parkway to link I-75 and Highway 58 in order to decrease traffic congestion.
Tenancy: Multiple Tenants
Property Condition: Good
Year Built: 1993
Year Renovated: 2013
Construction/Siding: Block, Concrete
Exterior Description: Class C; Concrete Block Frame w/ Metal Roof
Parking Type: Surface
Parking Description: Large paved and striped parking lot in front of bldg.; fenced storage for vehicles/RV storage behind Cannon; vacant adjacent parcel allows for future expansion - Zoned R-1, so only permits additional parking lot
Heat Type: Electricity, Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: bldg. equipped with wet sprinkler system
Zoning Description: C-2; Commercial Convenience District along the west side of property and R-1, Residential Zone, on the east side of the property by the City of Chattanooga; the C-2 zoning permits further commercial development of property, however R-1 does not permit typical commercial development - it does allow additional parking
Lot Frontage: 381

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,896 33,140 110,382
Median Age: 38.24 42.02 40.02
Households: 2,487 13,992 45,471

Contact

Photograph of Listing Agent

Pryor E Bacon

Pryor Bacon Company GCAR CMLS Member

Source

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