Osborne Shopping Center East Ridge

Shopping Center for Sale
Catylist Listing ID: 30791882
Property Subtypes: Fashion/Specialty, Free-Standing Store, Grocery-Anchored, Mixed Use, Neighborhood Center, Net Leased, Outlet Center, Strip Center, Other
Building Size (RSF): 139,186 SF
Gross Building Area: See Agent
Gross Land Area: 12 Acres
Sale Price: $15,500,000
Unit Price: $111.36 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: Osborne Shopping Center East Ridge
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/24/2022

Overview / Comments

Incredible opportunity to own "Tennessee's First Shopping Center" in the booming town of East Ridge ,TN! Location Location! A large footprint shopping center with an anchor store that spans over 12+ Acres! Over half of this property is located within the East Ridge Border Region Incentive Area!. Over 140,000 +/- total sq ft! Qty 5 Total Buildings with an added parking/outparcel, 475+ parking spaces, 2200 + ft of road frontage with excellent visibility along heavily traveled Ringgold Rd with an estimated annual average daily traffic count of 21,000 cars. This shopping center has been a staple that this East Ridge, TN community has relied on since 1950 with multiple restaurants/eateries, gym/ fitness center, East Ridge animal hospital, motor vehicle sales & garage/service center, multiple business offices, hair/ nail salons & more! Untapped/ upside potential in a fast growing area. This location is incredible just blocks from the East Ridge tunnel offering easy and quick access to Downtown, Chattanooga!
The following parcel #'s are all included with the Osborne Shopping Center: Parcel# 168D F 002 Food City Building ,Parcel# 168D J 031 Food City outparcel/ parking lot, Parcel# 168D F 001 Retail Shopping Center, Parcel# 168E H 016 Retail Shopping Center, Parcel # 168E H 019 Retail Shopping Center, Parcel# 168D F 001.01 Kingwood Auto Sales/ Service Center, **Please note the Food City Building & the outparcel/ parking lot are NOT included within the Border Region Incentive (BRI) Opportunity Zone. All of the remaining Parcels ARE INCLUDED in the BRI Opportunity zone. Contact City of East Ridge for more details. ** Licensee has personal interest.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County & City of East Ridge
Tax ID/APN: 033168D F 00200P000
Zoning: C-2
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Belvior Ave. & Germantown Rd.
Property Visibility: Excellent
Largest Nearby Street: I -75
Feet of Frontage: 2,233
Traffic/Vehicle Count: 21,000
Highway Access: I-75 approx 4.6 miles, I-24 approx 2 miles.
Airports: Chattanooga Metropolitan Airport- approx 5.5 Miles
Total Number of Buildings: 5
Property Condition: Average
Parking Type: Roof Top, Surface
Sprinklers: Wet, None
Internet Access: Fiber Optic
Zoning Description: C-2
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities, Other
Legal Description: -Lt 1 Osborne Shopping Center Pb15 P G81 Rev 40-154, -Lts 15-17 Blk C Blaney Forrest Pb 1 5 Pg 81, -Lts 1-3 Pt Lt 21 Blk B Welwood Heig Hts Pb 15 Pg 26, -Pt Lt 21 Blk B Welwood Heights Pb15 Pg26, -Pt Blk B Blaney Forest Pb 15 Pg 81 Rev 40-154, -Lt 30 Blk B Blaney Forest Pb 61 Pg 333 Opener

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,736 84,507 150,272
Median Age: 40.23 36.59 37.08
Households: 5,673 33,891 62,119

Contact

Photograph of Listing Agent

Katie L Ashley

RE/MAX Renaissance Realtors Greater Chattanooga REALTORS® Member
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