GREAT INVESTMENT PROPERTY in ROSSVILLE!

Retail-Commercial for Sale
Catylist Listing ID: 30193764
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 5,336 SF
Sale Price: $85,000
Unit Price: $15.93 PSF
Ceiling: 12 ft.
Property Use Type: Investment
Building Name: Town of Rossville
Usable Size (USF): 5,336 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 7/28/2018

Overview / Comments

(2) spaces in a total of 5336 square ft. Original structure built in 1948 however a fire gutted the interior roughly 23 years ago. Interior is not original. Each unit features a half bath. Roof replaced in 2012. HVAC on Right space replaced in 2016. Backflow system updated in 2013. City of Rossville updated their drain system in 2013+-. Zero lot line, minimal parking in front of building. Long time tenants in both units. Steady income. Seller pays approximately $1300. +- /year for Insurance. Buyer to verify square footage, Insurance, Property Taxes. Call Listing agent for details!

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $518 (Annual)

Current Tenants

Tenant Business Name Jody Baxter Electrical
Industry Type Utilities
Is Renting? Yes
Suite Number 311 1/2
Current Rent $4,200 PSF (Annual)
Tenant Notes Lease is on-going with 30 Day Notice given by either Lessor or Lessee if either cannot go forward with Lease at time of Expiration.
Tenant Business Name Raky Braiding Hair Salon
Industry Type Retail Trade
Is Renting? Yes
Current Rent $6,000 PSF (Annual)
Tenant Notes Lease is On-Going unless either Lessor or Lessee give 30 Day Notice prior to Lease Expiration they cannot continue.
Tenant Business Name Raky Braiding Hair Salon
Industry Type Retail Trade
Is Renting? Yes
Suite Number 311
Current Rent $6,000 PSF (Annual)
Tenant Notes Lease is On-Going unless either Lessor or Lessee give 30 Day Notice prior to Lease Expiration they cannot continue.
Tenant Business Name Raky Braiding Hair Salon
Is Renting? Yes
Suite Number 311
Current Rent $6,000 PSF (Annual)
Tenant Notes Lease is On-Going with 30 Day Notice given by either Lessor or Lessee that they cannot continue with the Lease.

Additional Details

Nearest MSA: Chattanooga
County: Walker
Taxing Authority: Walker Co Ga
Tax ID/APN: 2003 064
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Chickamauga Ave
Highway Access: McFarland Ave to Chickamauga to Battlefield Pkwy to I-75
Airports: Chattanooga Municipal
Site Description: Level, Flood Zone
Area Description: Level lot with high traffic. Easy drive from everything in Rossville. Excellent frontage and visibility. Flood insurance may be required.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,336 SF
Property Condition: Average
Year Built: 1948
Exterior Description: Slab perimeter footing, Poured Concrete floor, Concrete Block Exterior Walls
Heat Source: Ceiling Units
Zoning Description: C-1
Lot Frontage: 54.6
Lot Depth: 90
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lt 32 Town of Rossville

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,486 60,767 124,897
Median Age: 35.71 36.86 37.37
Households: 1,736 24,808 50,724

Contact

Photograph of Listing Agent

Susan M Castle

Berkshire Hathaway HomeService Greater Chattanooga REALTORS® Member
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