1421 Choate Rd

Retail-Commercial for Sale
Catylist Listing ID: 30747413
Property Subtypes: Free-Standing Building, Mixed Use, Retail-Pad, Service Station/Gas Station, Street Retail, Vehicle Related
Building Size (RSF): 6,024 SF
Gross Building Area: See Agent
Gross Land Area: 18,295 SF
Sale Price: $550,000
Unit Price: $91.30 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: 1421 Choate Road
Usable Size (USF): 6,024 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2021

Overview / Comments

5 lease units in this 6,024 SF money maker. Great for Investors. 3 of the 5 units currently leased, Current lease income per month Lease #1.) $3,000 per month occupied since March. Lease #2.) Vacant , renter business just moved out. Was paying $1,200 per month. Lease #3.) Vacant currently. Lease # 4.) $390 per month (occupied 3 years). Lease # 5.) $628 per month, . (occupied 10+ years)

8 Cap.

Border Region Tax Incentive Eligible.

The building has been very well maintained and with proper management the two open units should rent promptly.

Unit #1 with 2,800 SF and 6 roll up doors ( 10' x 12' ) is a much sought after property. 14 ceilings, Insulated in great condition.

Monthly income summary with 3 of the 5 units leased is:
Unit 1 $3,000.00 (2,160 SF
Unit 2 $0 ($1,200 vacant) ( 1,200 SF)
Unit 3 $0 ($700 vacant) (685 SF)
Unit 4 $390.00 ( 564 SF)
Unit 5 $628.00 (635 SF)
Shop Office (640 SF)
Stairwell (140 SF)
Current Total : $4,018 per month leased.
Total all 5 units $5,918 per month.
AADT: Car Count Daily per TDOT
2018 = 21,412 on Ringgold Rd.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033169G G 02100
Zoning: C-2
Retail Clientele: General, Family, Business, Tourist, Other
Property Located Between: Ringgold Rd. and I-24
Property Visibility: Good
Largest Nearby Street: Ringgold Rd.
Feet of Frontage: 133
Traffic/Vehicle Count: 21,412
Highway Access: Ringgold Rd; I-24 and I-75 2 miles.
Airports: Chattanooga
Site Description: Excellent property; level lot; In the Heart of East Ridge
Area Description: Retailers and businesses all around: Walgreen; Sonic, Checkers,others
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 6,024 SF
Property Condition: Good
Year Built: 1986
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Brick and Vinyl Siding
Parking Type: Surface
Parking Description: Ample Parking
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit, Other
Internet Access: Fiber Optic
Interior Description: Well maintained, good.
Zoning Description: C-2
Lot Frontage: 133
Lot Depth: 134
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: Lts 3&4 Resub Chatwood Sub Rev 35-3 28

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,793 73,465 156,823
Median Age: 39.18 36.98 37.35
Households: 5,333 30,629 64,947

Contact

Photograph of Listing Agent

Roy Arick

Keller Williams Realty Greater Chattanooga REALTORS® Member
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