Have The Best Restaurant Property on Signal Mtn

Retail-Commercial for Sale
Catylist Listing ID: 29997707
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 2,360 SF
Gross Land Area: 0.50 Acres
Sale Price: $399,000
Unit Price: $169.07 PSF
Ceiling: 9 ft.
Property Use Type: Investment, Business
Building Name: Olive Bean
Usable Size (USF): 2,360 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/25/2018

Overview / Comments

The Olive Bean restaurant location on Signal Mtn is now available for purchase. The sellers had a good business doing only breakfast and lunch but to really succeed on Signal Mtn you need to serve dinner too. The building and property is in its best shape ever. The property has been renovated and includes new HVAC systems, new roof, and new flooring to name a few.

Current occupancy is rated at 70 but does not include the seating for 35 on the two porches. The front porch is covered and has two ceiling fans. The setting is quiet and pretty.

The sellers say they know of no reason why a liquor, beer and wine license could be not be obtained.

Cottage behind restaurant is excluded from the sale. Upon the sale, an easement will be created to allow access to this back cottage.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033098J B 02100P000
Zoning: CC
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: On James Blvd Near Thrasher Elementary School
Property Visibility: Excellent
Largest Nearby Street: Taft Hwy
Feet of Frontage: 130
Traffic/Vehicle Count: 12,046
Highway Access: Property is located just off of Taft Hwy.
Airports: Chattanooga Metropolitan Airport
Site Description: The site is level and at street grade. The building is set back only about 20 feet from the road. There is a parking lot to the left and around the building. Behind the main building is a small 682 square apartment building that is currently used for storage and as an office and it is not included in the sale. Traffic count on James Blvd is about 3,000 per day. The sale at $399,000 does not include the 1.0+/- acre behind the restaurant in the woods.
Area Description: Signal Mtn is a suburban community about 20 minutes from Chattanooga. It is close enough that customers would drive up the mountain for dinner but the bulk of business will likely come from local residents.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 2,360 SF
Property Condition: Excellent
Year Built: 1950
Year Renovated: 2012
Construction/Siding: Brick
Exterior Description: The property has a 500 foot covered porch on the front and a 250 foot side porch. The building has a residential look to it.
Total Parking Spaces: 30
Parking Ratio: 13 (per 1000 SF)
Parking Type: Surface
Parking Description: There is a parking lot to the left of the properrty plus additional parking in front and around the building. Additional parking could be created.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Current occupancy is rated at 70 which does not include seating for another 35 or so outside on the porches. The decor, furniture, wall coverings and decorations are beautiful.
Zoning Description: Community Commercial
Lot Frontage: 130
Lot Depth: 170
Water Service: Municipal
Sewer Type: Septic
Land Ownership: Owned

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,509 23,965 58,206
Median Age: 43.75 41.81 40.54
Households: 1,313 10,207 25,320


Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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