Southside Investment & Redevelopment Opportunity

Retail-Commercial for Sale
Sale Pending
Also listed as Office
Catylist Listing ID: 30661659
Property Subtypes: Mixed Use, Other
Status: Pending
Condo? Yes
Building Size (RSF): 13,000 SF
Gross Building Area: 19,500 SF
Sale Price: $2,485,000
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: The Harrington
Sale Terms: Cash to Seller
Last Updated: 10/18/2021

Overview / Comments

Incredible development and investment opportunity in the heart of Chattanooga's booming Southside district. This property offers income from day one with a tenant on the second floor with development opportunities on the third floor. First floor condo has been sold. The offering is for the second and third floor and developer control of the project.

The seller has restored the shell of this historic building, added an elevator and stairwell, added a garage for third floor occupants, and has redeveloped and rented the second floor to an established financial services company that has been there for several years and is looking to stay. The third floor is an open floorplan and shell ready for development as one-of-a-kind residential unit(s) or offices with an unmatched combination of views and walkability with parking. The first floor condo is home to Alleia Restaurant from award winning chef and restaurateur, Daniel Lindley.

The office on the second floor features classic exposed-brick walls, refinished hardwood floors, and large windows providing tons of natural light. The unfinished third floor is ready for similar redevelopment with a conceptual floorplan that would provide two large residential units, each with 3 bedrooms (or 2 bedrooms and an office or studio) two bathrooms, a large kitchen, a dining area, a living area, and a large outdoor balcony for relaxing or entertaining. There are four covered, secure parking spaces in the garage just off the elevator lobby dedicated to the third floor.

All of this is just steps away from the dining, art, entertainment, shopping, workouts, and spas that define the Southside. The Harrington is a unique opportunity to for income and development offering large condos with sanctuary, style, and convenience.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County, TN
Tax ID/APN: 145L C 010
Is Condo?: Yes
Zoning: U-SH-4
Retail Clientele: General, Family, Business, Tourist, Recreation, Convention
Property Located Between: Market Street and Rossville Ave.
Property Visibility: Excellent
Largest Nearby Street: Market Street
Highway Access: Less than a mile from both I-24 and TN-27
Airports: Chattanooga Metropolitan Airport
Site Description: Beautiful site with tall windows, brick facade, and tailored landscaping.
Area Description: Main Street is a bustling area of downtown Chattanooga with art galleries, coffee shops, restaurants, hotels, spas, and residences. The nearby Chattanooga Choo Choo has fantastic restaurants, shopping, live shows, hotel rooms, and events.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 6,500 SF
Property Condition: Excellent
Year Built: 1900
Year Renovated: 2012
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Main building is a brick facade with classic arch and keystone windows on the facade. The back (north), garage, and elevator are all new construction in 2012.
Total Parking Spaces: 15
Parking Type: Surface, Other
Parking Description: Approximately 15 spaces on a paved surface lot with 4 enclosed garage spaces dedicated to the third floor.
Passenger Elevators: 1
Zoning Description: In the Form-Based Code Zone, U-SH-4, is Urban-Shopfront Mixed Use Zone "intended to accommodate a variety of residential, retail, service and commercial building uses in a storefront environment." Uses are flexible but new build requires "tall ground floors with large areas of transparent accommodate retail uses", which this property already offers.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,159 58,341 131,040
Median Age: 32.31 34.24 36.76
Households: 3,970 23,159 54,285


Photograph of Listing Agent

Benjamin Pitts

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Blair Mard

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
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