LEED-Certified Building in the Innovation District

Office for Sale
Catylist Listing ID: 30735931
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 11,750 SF
Sale Price: $1,795,000
Unit Price: $152.77 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Hamilton on Cherry
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
LEED Certified: Yes
Last Updated: 9/17/2021

Overview / Comments

Major redevelopment in 2007 of the century old Hamilton Hotel building at 714 Cherry Street. The project earned a Gold Level, LEED-Certification from the United States Green Building Council and was honored with the Sophia Long Award for Excellence in Historical Renovation from Cornerstones, Inc. The building features a green roof, living wall on the western exterior facade, a climbing wall in the lobby, millwork from rapidly renewable resources such as bamboo and compressed sunflower seeds, salvaged scrap metal for railing systems, translucent polycarbonate walls for light transference, low flow plumbing fixtures, high-efficiency lighting and HVAC systems with CO2 sensors, a shower with changing area, an interior bike rack, and more!

The ground floor and second floor space is on net lease with Asa Engineering. 3+ years remaining on the base term. Current NOI approx $100,000.

The 4,000 SF third floor is clean shell space ready for build out. A fire rating is currently in place that would allow for residential use.

There are 5 parking spaces behind the building.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033145D L 00100P000
Property Visibility: Excellent
Number of Stories: 3
Typical SF / Floor: 4,000 SF
Year Renovated: 2007
Roof Type: Green
Construction/Siding: Brick
Parking Description: 5 parking space come with the building.
Sprinklers: Wet
Internet Access: Gigabit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,174 52,134 128,069
Median Age: 32.04 33.96 36.71
Households: 3,804 20,870 53,257


Photograph of Listing Agent

J. Matthew McGauley

Fidelity Trust Company Greater Chattanooga REALTORS® Member
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