Vance Road - Investment Opportunity

Office for Sale
Catylist Listing ID: 30645194
Property Subtypes: Medical, Mixed Use, Flex Space
Building Size (RSF): 16,000 SF
Gross Land Area: 1.38 Acres
Sale Price: $985,000
Unit Price: $61.56 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Women's Diagnostic Center
Class of Space: Class C
Usable Size (USF): 16,000 SF
Sale Terms: Cash to Seller
Average Occupancy Rate: 90
Last Updated: 10/16/2020

Overview / Comments

Multi-tenant facility featuring 6-units is currently fully occupied. Possible uses: office, retail, restaurants, warehouse (up to 5,000 sq. ft.) The immediate neighborhood is dominated by industrial, commercial and residential land uses.

This property is centrally located between the Eastgate Retail District, Hamilton Place Retail District and the Amnicola Industrial District.

Prior to the current use, this building housed Appliance Factory Warehouse.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton
Tax ID/APN: 148O B 001.04
Zoning: C-2
Property Located Between: Lee Hwy and Shepherd Road
Property Visibility: Good
Highway Access: I-24, I-75 and I-59 is less than 3-miles southeast of subject property. HWY 153 is approx. 1-mile from subject property.
Airports: Lovel Field is less than 1-mile east of the Subject Property.
Site Description: Property located on a 2-lane, secondary collector street. Parking Ratio is 2.81 marked spaces per 1,000 sq. ft. of gross building area; outside lighting is a vapor pole.
Area Description: The immediate neighborhood is dominated by industrial, commercial and residential land uses. The adjoining land usuage includes single-unit residential, industrial, and multi-tenant shopping centers.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 16,000 SF
Year Built: 1981
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Exterior Description: The topography is level to sloping. The building is 39 years old.
Parking Ratio: 2.8 (per 1000 SF)
Parking Type: Surface
Parking Description: Open asphalt paved parking lot with multiple parking options
Total Parking Spaces: 45
Heat Type: Electricity
Heat Source: Central
Internet Access: Cable, Fiber Optic
Interior Description: A multi-tenant office/industrial flex facility, featuring six individual units, referred to as Unit A (854 sf/office space), Unit B (3,7360 sf/flex space w/1,110 sf of office--30%), Unit C (4,286 sf/office space w/1,636 sf of office --38%), Unit D (4,585 sf/office space), Unit E (1,415 sf/office space) and Unit F (1,100 sf/warehouse storage space). 1. Ceilings: Acoustic Tile, Metal Frame with insulation; 2. Lighting: Recessed Florescent, Florescent Strip, 3. Drywall: Trim-Rubber Baseboard, Metal Door Frame; 4. Floor Cover: Vinyl Tile, Carpet, Finished Concrete; 5. Interior Doors- Solid Wood; 6. Restrooms: 5 Uni-Sex Restrooms, 1 Set of Men and Women's Restrooms.
Zoning Description: Hamilton County Zoning Commission: C2 (Local Business Commercial District, intended for retail, office, consumer service, financial, restaurant, warehouse (up to 5,000 sq. ft.), schools, churches and governmental uses.
Lot Frontage: 285.65 Feet
Lot Depth: 290 Feet
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None known
Land Ownership: The land is owned.
Legal Description: Lt 3 Pryor Bacon Resub 37-177

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,741 54,679 139,256
Median Age: 36.9 39.46 39.3
Households: 3,201 24,679 58,024

Contact

Photograph of Listing Agent

Lora M Dawson

Crye-Leike, REALTORS Greater Chattanooga REALTORS® Member
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