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.

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

View FullscreenMap

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

Contact

Photograph of Listing Agent

Lee T Harper

Hudson Commercial, LLC 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.