HOLTZCLAW DEVELOPMENT OPPORTUNITY

Retail-Commercial for Sale
Catylist Listing ID: 30364651
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 46,280 SF
Gross Building Area: See Agent
Gross Land Area: 1.50 SF
Sale Price: $1,950,000
Unit Price: $42.13 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/20/2019

Overview / Comments

One of the last remaining development opportunities in the burgeoning Southside District merging into the historic Highland Park Neighborhood. This property was once home to the Mid-South Mattress Factory and now available for an adaptive reuse project. A 46,282 square foot two story building sitting on 1.5 acres of land is available for creative office and retail space redevelopment. The 283’ of frontage along Holtzclaw Ave provides tenants with generous exposure from both street and pedestrian traffic. The 1.5 acres offers not only 150 parking spots but a common area courtyard and an outdoor deck running the width of the building for tenants to relax and mingle. The property can be rezoned to UGC. Site plans and leasing plans have already been completed and can be found in documents.
Property includes 1257 and 1253 E 13th parcels. An additional .60 acres could be purchased. Please refer to documents.
Contact Agent for entire marketing package.
• Exterior Common Areas to include a pleasing grass courtyard and deck spanning the rear of the building for relaxing and mingling
• Plentiful windows throughout the building bringing in an abundance of natural sunlight for each suite
• Original exposed brick on both the exterior and interior walls
• Ample Parking with 150 spaces on site and street parking along 13th Street
• Architectural features such as authentic wood flooring and structural wood beams throughout bringing charm to any suite
• Trees and landscaping over the 1.5 acres to evoking a sense of community
• 11’ – 16’ ceiling heights providing a spacious feel on each floor

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033146P C 00200
Zoning: M1
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Holtzclaw
Feet of Frontage: 283
Highway Access: I-24 1 mile
Area Description: Southside, once the urban center of industry in Chattanooga, came to be known for its abandoned warehouses and old buildings during the mid-20th century. Today, revitalization has filled the neighborhood with the art, culture, cuisine and entertainment that has come to define the city. With the 50+ businesses that pepper the neighborhood as proof, this once-desolate area is experiencing a second life. Encompassing the land from Warehouse Row past Main Street, Southside became a nexus of renovations about 10 years ago. The area was identified and attractive because of the vast opportunity for growth and development. This growth is now expanding past Main and Central onto Holtzclaw and Main to connect to the historic Highland Park neighborhood.
Tenancy: Multiple Tenants
Number of Stories: 2
Typical SF / Floor: 23,000 SF
Property Condition: Good
Year Built: 1920
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 150
Parking Type: Surface
Lot Frontage: 283
Lot Depth: 293
Water Service: Municipal
Sewer Type: Municipal, Storm
Easements: Other
Easements Description: Railway

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,089 78,231 143,239
Median Age: 27.27 35.16 36.98
Households: 3,196 31,642 59,337

Contact

Photograph of Listing Agent

Anne L Najjar

Prestige Property Brokers Greater Chattanooga REALTORS® Member
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