Fully Leased Retail Commercial Investment

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30798902
Property Subtypes: Free-Standing Building, Street Retail, Other
Status: Pending
Building Size (RSF): 8,940 SF
Gross Building Area: See Agent
Gross Land Area: 0.79 Acres
Sale Price: $1,350,000
Unit Price: $151.01 PSF
Property Use Type: Investment
Usable Size (USF): 8,940 SF
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 5/12/2022

Overview / Comments

Great opportunity to own income producing commercial property. This property is located on a busy corridor linking Chattanooga to Hixson with traffic counts as high as 23,000 vehicles per day. The property consist of 5 fully leased spaces within two adjacent buildings. Each space has its own entrance and utility meters. All spaces have been updated to include interior and exterior paint, bathrooms, new flooring, new HVAC and new soffit/fascia for signage. The parking lot has 40 parking spaces and was resurfaced and re-striped in 2021. The sewer line in 2020 was replaced from the buildings to the road. All buildings have rubber roofs. Billboard lease and tenant leases are available to buyers during buyer's due diligence period.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033118D A 00101P000
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Kensington Drive and Laird Lane
Property Visibility: Excellent
Largest Nearby Street: Hixson Pike
Feet of Frontage: 193
Traffic/Vehicle Count: 23,000
Highway Access: Less than a mile to Dupont Parkway and only four miles to Hwy 58
Airports: Chattanooga
Site Description: Both buildings are of block construction and have been updated within the last 4 years. The property has newly paved and striped parking in front and along the side of the lease spaces and a large lot in between the two buildings.
Area Description: This busy area has retail, commercial and a neighborhood Walmart along with professional offices and fast food restaurants.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1966
Year Renovated: 2021
Roof Type: Flat
Exterior Description: Both buildings have block construction.
Total Parking Spaces: 40
Parking Type: Structure
Parking Description: Parking lot has 36 public spaces and 4 handicapped spaces.
Lot Frontage: 193
Lot Depth: 155
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,508 41,826 114,897
Median Age: 40.24 38.7 39.49
Households: 1,991 18,877 49,652

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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