Catylist ID:
#30777493
The Terrace at Frazier Retail Space for Sale (NNN)
Retail-Commercial
for Sale
Sale Pending
| Catylist Listing ID: | 30777493 |
| Property Subtypes: | Street Retail |
| Status: | Pending |
| Building Size (RSF): | 13,995 SF |
| Gross Building Area: | 79,950 SF |
| Sale Price: | $4,600,000 |
| Unit Price: | $328.69 PSF |
| Property Use Type: | Net Leased Investment (NNN) |
| Building Name: | The Terrace at Frazier |
| Usable Size (USF): | 13,995 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 6.5% |
| Last Updated: | 5/25/2022 |
Overview / Comments
|
Rare opportunity to purchase prime retail space on the NorthShore of Chattanooga, TN. Available is the entire first floor of the Terrace at Frazier building located at 345 Frazier Avenue, Chattanooga, TN 37405. Tenants consist of: - Suite 109 - Regions Bank, 4,665 square feet - Suite 108 - Massage Envy, 3,539 square feet - Suite 103 - Team Title Services, LLC, 4,117 square feet - Suite 101 - European Wax, 1,674 square feet Sale includes private parking in the Public Parking garage at the rear of the building. See Agent for details. The Terrace at Frazier is a 4 story, 79,950 square foot all brick building in the heart of the NorthShore community of Chattanooga, TN. The 3rd and 4th floors consist of high-end residential condominiums. The 2nd floor consists of Class A office condominiums, and the 1st floor is a total of 13,995 square feet of retail space, subdivided into (4) existing suites. The sale price is $4,600,000. |
Attachments & Media
Financials
| Finance Data Year | 2022 |
|---|---|
| Real Estate Taxes - Annual($) | $42,218 (Annual) |
| Net Operating Income | $299,000 (Annual) |
| Actual or Proforma Year | Proforma |
Additional Details
| Nearest MSA: | Chattanooga |
| County: | Hamilton |
| Tax ID/APN: | 033135E E 01200C100 |
| Zoning: | E-SH-4 |
| Property Located Between: | Market Street and Veterans Bridge |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Frazier Avenue, Market Street |
| Traffic/Vehicle Count: | 16,361 |
| Area Description: | Frazier Avenue on the NorthShore of Chattanooga is a very heavily traveled business and retail corridor between the North Chattanooga neighborhoods, Red Bank and Downtown. The area is experiencing both retail and residential growth. The Northshore is linked to the downtown area by 3 motor vehicle bridges and the popular Walnut Street pedestrian bridge. The free CARTA Shuttle, which has a stop at the Terrace, also connects the NorthShore with the downtown area. The area is known for its retail, art, and recreation opportunities. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 4 |
| Typical SF / Floor: | 14,955 SF |
| Property Condition: | Excellent |
| Year Built: | 2008 |
| Roof Type: | Flat |
| Construction/Siding: | Brick |
| Parking Type: | Structure |
| Parking Description: | See agent for details on adjacent Public Parking Garage |
| Passenger Elevators: | 2 |
| Sprinklers: | Wet |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 8,807 | 52,361 | 128,647 |
| Median Age: | 34.84 | 34.36 | 37 |
| Households: | 3,878 | 21,581 | 53,798 |
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