Highway 58 Retail
Retail-Commercial
for Lease
| Catylist Listing ID: |
28437802 |
| Property Subtypes: |
Mixed Use, Restaurant, Retail-Pad
|
| Contiguous Space: |
1,200 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 |
| Lease Types: |
NNN |
| Ceiling: |
20 ft. |
| Is Quick-Service Restaurant? |
Yes |
| Last Updated: |
9/14/2020 |
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.
|
| Level/Floor: |
1 |
| Space Available: |
1,200 SF |
| Lease Rate: |
$15 PSF (Annual)
$1,500 (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 |
|
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