Retail Store Front / 4 Units / Tenant Income

Retail-Commercial for Sale
Catylist Listing ID: 30296145
Property Subtypes: Day Care Facility, Free-Standing Building, Garden Center, Restaurant, Retail-Pad, Street Retail, Vehicle Related, Other
Building Size (RSF): 9,000 SF
Gross Building Area: See Agent
Sale Price: $600,000
Unit Price: $66.67 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 11/25/2018

Overview / Comments

Currently, 4,000 sf is available for lease, 3200 sf is leased to three tenants, 800 sf storage is in use by owner, but available; Great opportunity for an owner occupied space - with tenant income. Outside fenced storage, signage, storage, surface parking with zero barrier store front entrance. If you are looking to start or expand your business - consider this opportunity.

"A picture is worth a thousand words" does not apply in this case. This north end of this building was operated as a Uniform Store for 15 years. The owner fully leased the store building to himself and leased to three other tenants the south end of the building - which is still leased. The seller estimates the building at approx 9,000 sf, which includes 4,000 sf store space, 3200 sf of leased tenant space and approx. 800 sf of storage space at the back of the Uniform Store. Additionally, he estimates the age of the building to be less than 20 years old. The original building was torn down to within 12" of the ground (to maintain current setback) and built new in 2001; in 2014 with the spring tornado the seller took the opportunity to update to an energy efficient space with roof, electrical, carpet, windows.; power bills avg $250 per mo.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033166E L 00101P000
Zoning: COMMMERCIAL
Retail Clientele: General, Business
Property Located Between: Heart of East Ridge, TN, between I-24 and I-75
Property Visibility: Excellent
Largest Nearby Street: Germantown Road
Feet of Frontage: 185
Highway Access: I-24 East/West, exit 184 Moore Road to right Ringgold Road; 1-75 North/South, exit 1 Ringgold Road
Airports: Lovell Field, Chattanooga, TN
Site Description: Building sits on Ringgold Road and is easily accessible from I-24 and I-75, surrounded on the North, East and West by Chattanooga and on the South side, is a few short minutes from North Georgia. Building owner had a uniform store at the location for over 15 years. recently closed. There are two lease tenants, and a third tenant that has rented month to month for more that 15 years. The building is a total of 8000 sq ft. total, with approx. 33 parking spaces, fenced, paved storage area that can be used form additional parking, if so desired. Owner is using warehouse storage at back of building, but it can be made available to prospective tenant. Great Investment opportunity.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2014
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Brick Facade Store Front.
Parking Type: Surface
Parking Description: Lined Asphalt Surface at the Front of Building; Additional parking available in fenced area

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,039 76,789 150,270
Median Age: 40.43 36.75 37.15
Households: 5,809 30,833 62,022

Contact

Photograph of Listing Agent

Judy Holley

Crye-Leike, REALTORS Greater Chattanooga REALTORS® Member
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