Catylist ID: #30535931
5830 Ringgold Road Investment
Retail-Commercial for Sale
|Catylist Listing ID:||30535931|
|Property Subtypes:||Free-Standing Building, Street Retail, Other|
|Building Size (RSF):||2,000 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$175 PSF|
|Property Use Type:||Investment|
|Building Name:||5830 Ringgold Road Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
5830 Ringgold Road is located in the heart of East Ridge at the corner of Ringgold Road and Burns Avenue. Approximately 2,000 square feet and fully leased to a national franchise chain named Pelican's Snoball's. Franchise currently has over 160 franchise locations and continues to grow.
Existing lease is through December 31, 2021 with one 3 year option to renew at $3,000 per month.
Current lease rate is $2,750 per month modified gross with property taxes at $5,200 annually.
Property is owned by an out of town owner and wishes to sell "AS IS". Great small investment opportunity.
East Ridge is busting with new development; Bass Pro, Chick fil a, Buddy's BBQ, Hampton Inn, Starbuck's Coffee, Top Golf, Champy's Chicken, Jack's Restaurant, O'Reilly's and much more coming to East Ridge.
Most of East Ridge is overlain by the state's Border Regions Act which offers certain tax incentives to owners and developers.
A great purchase and hold product.
|Finance Data Year||2019|
|Real Estate Taxes - Annual($)||$5,200 (Annual)|
|Gross Operating Income||$33,000 (Annual)|
|Tax ID/APN:||033169N F 02000|
|Retail Clientele:||General, Family, Traveler, Tourist|
|Largest Nearby Street:||Ringgold Road|
|Feet of Frontage:||131|
|Highway Access:||One mile to I-75 with 100,000 cars per day.|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Total Parking Spaces:||15|
|Proximity:||1 mile||3 miles||5 miles|
Lee T HarperHudson Commercial, LLC Greater Chattanooga REALTORS® Member
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