Catylist ID:
#30661659
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. |
Attachments & Media
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 glazing...to accommodate retail uses", which this property already offers. |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
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 |
Contact
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