Downtown Financial District Office Opportunity

Office for Sale
Catylist Listing ID: 30397255
Property Subtypes: Governmental, High-Tech, Mixed Use, Office Building, Research & Development
Building Size (RSF): 24,358 SF
Gross Land Area: 0.12 Acres
Sale Price: $1,800,000
Unit Price: $73.90 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: Urban Core Opportunity
Class of Space: Class B
Core Factor: 10%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/2/2019

Overview / Comments

This four story building offers the purchaser the opportunity to accommodate a variety of potential uses. While the most recent use has been traditional office with a bank on the street level, the 1920 construction offers the possibility of exposed brick interiors and open collaborative work or residential spaces walkable to every amenity the downtown core has available. CX-12 Zoning allows for additional vertical construction including roof terraces and more floors.

This property is surrounded by financial institutions, the Read House Hotel, numerous restaurants, and Miller Plaza.

The ground floor is in immaculate condition and is turn-key bank space. Second and third floors are in above average condition and the fourth floor is being gutted to expose existing brick and distinctive construction methods. Offer price is less than $75 SF based on SF gathered from prior marketing. Buyer to verify actual SF.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: City of Chattanooga
Tax ID/APN: 145CB B 003
Zoning: D-CX-12
Property Located Between: ML King Blvd and 4th Street
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 4
Typical SF / Floor: 5,300 SF
Year Built: 1920
Roof Type: Flat
Parking Type: Other
Parking Description: Parking is off-site in a variety of locations. Surface lot at ML King Broad, deck space is available at ML King and Chestnut St. street parking at the front door, Mountain City Club, and many more options are available.
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Internet Access: Gigabit, Fiber Optic
Zoning Description: CX 12 is Urban Core Commerical with potential for 12 story vertical structures and a variety of uses.
In Flood Plain?: Yes
Lot Frontage: 46
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,060 48,500 125,319
Median Age: 32.05 33.51 36.62
Households: 4,213 19,370 51,998


Photograph of Listing Agent

John E Jewell

CBT Commercial Greater Chattanooga REALTORS® Member
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