Mixed Used Investment Opportunity

Multi-Family for Sale
Also listed as Retail-Commercial, Shopping Center
Catylist Listing ID: 30374095
Property Subtypes: Low-Rise/Garden, Mixed Use, Other
Number of Units: 22 Units
Building Size (RSF): 13,236 SF
Sale Price: $1,900,000
Unit Price: $86,363.64 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Build-to-Suit, Other
Cap Rate: Undisclosed
Last Updated: 3/19/2019

Overview / Comments

Incredible A-rated investment opportunity in fast growing Hixson, TN! The projected GMI is between $20,000-$28,000, and since the building has been completely redone, it will incur minimal expenses and offer years of low maintenance. This 22 unit mixed-use commercial building has been fully redesigned, and is ready for the final stage of renovation. The building has been completely gutted, structurally redesigned, and equipped with a new roof, plumbing, electrical, mechanical, doors, and windows. The 11 first floor units are commercial spaces, and are ready for tenant build out. The 11 second floor units are designed to be multi-family and are ready for drywall. Ample parking is available in the front and back of the building for both commercial and residential units. The building needs $300,000 worth of construction to complete the project, which you can do, or the current owners can complete to your custom requirements. The location off of Hixson Pike is ideal, as it's within walking distance of Earth Fare and just minutes to an abundance of shopping and dining. Current traffic count is approximately 30,000 vehicles per day. This number is expected to increase over 10% per year. The current appraisal of $2,400,000 allows for instant equity upon purchase. If you’re looking for a solid investment with instant equity, call today for your private showing!

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County, Chattanooga
Tax ID/APN: 100J D 005.01
Zoning: C-2
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1971
Year Renovated: 2019
Parking Description: Surface
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: Pt Lt 6 Margaret Hixson Dower Tr N/ R 1840A 12 013A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,744 39,142 89,945
Median Age: 40.71 42.19 40.53
Households: 1,707 16,762 38,552

Contact

Photograph of Listing Agent

Brian D Tucker

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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