Income Propducing/Work/Live Property near Cleveland

Retail-Commercial for Sale
Catylist Listing ID: 30595246
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 3,021 SF
Gross Building Area: See Agent
Gross Land Area: 0.25 Acres
Sale Price: $154,900
Unit Price: $51.27 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 10.3%
Last Updated: 5/14/2020

Overview / Comments

Best of both worlds! Retail space with an apartment! This is a great property for a business with an income producing apartment. The entire building is just over
3,000 SF which is divided between the two floors equally. Currently, the downstairs and upstairs are rented for a combined rent of $1,600 monthly. This property could also serve as an owner live/work space. The 1,400 SF apartment has 2 bedrooms, 1 bath with a private entrance. Updates to the apartment include new cabinets and appliances. The building has been updated with plumbing, electrical and HVAC.

Located just outside of Cleveland, this property sits on a corner lot off of a major non-highway corridor running from Chattanooga to Knoxville. High traffics count due to commuters heading towards Bowater, Amazon, Wacker and Olin make this an ideal location for any business.

Owner will include this listing in a property portfolio for anyone with a 1031 Exchange.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Tax ID/APN: 016A B 012.00 000
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler
Property Located Between: Cass Lane and Water Lane
Property Visibility: Excellent
Largest Nearby Street: Hiwassee Street
Feet of Frontage: 114
Airports: Chattanooga Airport
Site Description: Block building on a corner lot.
Area Description: Surrounding area has businesses and restaurants.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1940
Roof Type: Flat
Construction/Siding: Block
Total Parking Spaces: 15
Parking Type: Surface
Lot Frontage: 114 Ft
Lot Depth: 104 Ft
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,618 2,776 8,801
Median Age: 38.2 40.08 40.97
Households: 627 1,080 3,316

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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