Retail/Office Building For Sale with Billboard Lease

Retail-Commercial for Sale
Also listed as Shopping Center, Office
Catylist Listing ID: 30783414
Property Subtypes: Convenience Store, Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 8,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.78 SF
Sale Price: $890,000
Unit Price: $111.25 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Last Updated: 5/4/2022

Overview / Comments

Multi-tenant retail/office building with a billboard lease.

Suite A (1,500 SF) was recently leased to Cell Medic for its 3rd location, selling and repairing cell phones, game consoles, and other electronic devices and accessories, with a 5-year lease. Suite C (1,500 SF) has been leased to a hair salon for over 10 years. Suite C (3,000 SF) was used by the property owner for his beauty supply store before he decided to close this location. The storage space (2,000 SF) includes a restroom and is accessible from the back of the property and was also used by the property owner. Therefore, there is 5,000 SF that can be used by the buyer of the property or it can be leased out for additional income.

Rental income from a billboard lease is included in the sale (full-sized, double-sided billboard). The lease expires on July 31, 2022 and can be extended on a long-term basis for a much higher rental rate.

The building has high ceilings (12' to the drop ceiling) in the retail/office area while the storage area's ceiling measures approximately 7.5'.

Additional parking can be added in the front of the property to complement the current parking in the front and rear of the property. There is also a large pylon sign for all tenants to share and a small sign by the street.

Convenient location, close to Hwy 153, between East Brainerd and Hixson.
Located in the central commercial area of Hwy 58 with lots of retail and restaurants.

Very strong traffic counts: over 30,000 annual average daily.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Chattanooga / Hamilton County
Tax ID/APN: 129B E 033
Zoning: C-2
Property Visibility: Excellent
Feet of Frontage: 114
Area Description: Central commercial area on Hwy 58 with retail and restaurants
Tenancy: Multiple Tenants
Property Condition: Excellent
Year Built: 2003
Roof Type: Flat
Construction/Siding: Block
Parking Type: Structure
Lot Frontage: 114
Lot Depth: 221

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,769 27,463 112,809
Median Age: 40.01 40.55 40.05
Households: 3,816 12,041 46,956

Contact

Photograph of Listing Agent

Joe C del Valle

KW Commercial Greater Chattanooga REALTORS® Member
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.