1961 Northpoint Blvd , Unit: 110#115#125

Business Opportunity for Sale
Catylist Listing ID: 30700412
Property Subtypes: Business Services, Financial, Health and Medical, Home and Office Furniture, Office, Personal, Professional Services, Real Estate, Technology
Condo? Yes
Building Size (RSF): 12,000 SF
Gross Land Area: 37,461 SF
Sale Price: $1,200,000
Ceiling: 25 ft.
Gross Revenue: $198,000 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: open to lease back option
Last Updated: 5/11/2022

Overview / Comments

1961 Northpoint Blvd, is a commercial condominium that is grossly underutilized. The entire 12,000 square feet has been occupied by its owner since its makeover in 2006. There is an abundance of street view footage and entire separate condo that has been used for storage. This is 4500 square feet with a separate entrance that has potential rent of 7k month.

There is a Potential NOI (Net operating Income) of over $122k annually. This would take adding a separate tenant to the 3rd subsection of the building (which is currently being used as storage). There is an appraisal of asking price from 2006. The area has only grown in demand and value.

1961 Northpoint Blvd is located on one of the busiest streets in Hamilton County with over 30,000 vehicles daily. The visibility and convenience is incredible. It is across the street from Home Depot, positioned around banks, restaurants and several large retail establishments. There is parking in abundance.

It has the potential of being very versatile. It has now many small individual offices with several large suites for conferences or waiting room areas. This also has a capacity of one room being a large meeting room with available +/- 120 seats. This office has been finished with granite counter tops for a beautiful receptionist area, Tile floors and some hardwood floors. It has a full size kitchen. This property could be turned into a Doctors suites with minor changes. It also has approx 2000 sq ft unimproved that could be turned into a living quarters if wanted. Possibilities of using all this square footage into climate controlled storage should also be a consideration.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Industry Segment: Other Business Services
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Value of Real Estate Included ($): $0
Part of Planned Development?: Yes
Growth/Expansion Opportunities: Hixson Business Condo for sale, could be 3 suites (potential Cap >10%), suites could be individually rented

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,017 37,202 97,987
Median Age: 37.52 41.92 39.97
Households: 2,209 16,274 42,050

Contact

Photograph of Listing Agent

Sheila A Shipley

ERA Blue Key Properties Spring Greater Chattanooga REALTORS® Member
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.