Investment Property Near McCallie School

Office for Sale
Sale Pending
Catylist Listing ID: 30031770
Property Subtypes: Office Building
Status: Pending
Building Size (RSF): 2,911 SF
Gross Building Area: See Agent
Gross Land Area: 0.17 Acres
Sale Price: $225,000
Unit Price: $77.29 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/26/2018

Overview / Comments

Fully leased net investment property available for sale for $225,000. Property consists of a free-standing office building located at the corner of Dodds Avenue and E 13th Street. Its location offers excellent visibility in a high volume traffic area that experiences an average of 15,877 vehicles/day. Located slightly over 1 mile from I-24 and within minutes from downtown, the property is considered to be easily accessible to all of Chattanooga. Subject site is rectangular in shape (150 ft. x 50 ft.); mostly level 0.17 acre lot; easy ingress/egress with access from both Dodds Avenue and E 13th Street; and zoned C-2 to allow for most all general commercial use tenants.

This brick office building has been well-maintained and provides an "at home atmosphere" for both employees and their clients. The 2,911 sq. ft. building consists of a foyer with an open office/work area, a hallway leading to 2 private offices and restrooms. There is also a storage area in the rear of the building that could be used for additional office space. Adequate parking is available with a paved lot located behind the building with approximately 15 spaces and additional parking available along the side of building.

The entire building is currently occupied by Liberty Tax Service, bringing in a net income of $1,800/month. The credit tenant is in the 2nd year of a gross lease. Landlord is responsible for paying taxes and insurance. From 2013 - 2015, current owner has paid $2,703 per year in taxes.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 156C J 025
Zoning: C-2
Property Located Between: Dodds Avenue & E Main Street
Property Visibility: Excellent
Highway Access: 1.2 mile access to Interstate 24 via 4th Avenue; 2.2 mile access to Tennessee 27
Airports: Chattanooga Metropolitan Airport (CHA) - 5.9 miles
Site Description: Level 0.17 acre site, rectangular in shape, 50 ft. wide and 150 ft. long
Area Description: Centrally located and only minutes from I-24, downtown and North Georgia. The area is a mix of some neighborhood businesses and residential homes. Property is within close proximity to McCallie School and the $57 Million Standard Coosa Lofts.
Total Number of Buildings: 1
Number of Stories: 1
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Paved lot in rear of property with capacity to hold as many as 15 vehicles with 5 spaces along the side of the building. Some street parking is available. Adjacent lot could potentially allow for overflow parking if there was a need for it.
Total Parking Spaces: 20
Zoning Description: C-2: Convenience Commercial, intended for retail, consumer service, financial, restaurant, and office uses.
Lot Frontage: 50
Lot Depth: 150
Legal Description: Lt 15 A S Glover Corr Pb4 Pg34

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,028 81,896 149,949
Median Age: 33.05 35.65 36.68
Households: 4,168 32,603 62,229


Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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