Office/Retail Income Producing

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30789659
Property Subtypes: Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 3,729 SF
Gross Building Area: See Agent
Gross Land Area: 0.34 Acres
Sale Price: $600,000
Unit Price: $160.90 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 5/16/2022

Overview / Comments

Completely redeveloped building in Avondale with 3 new leases and one vacant suite that will lease soon. Redevelopment included dividing building, each with new HVAC, new electric and lighting, new plumbing with new ADA-compliant bathrooms, new drywall and fresh paint, new or restored flooring throughout, and new storefronts with large plate-glass windows offering great natural light.

Tenants include a nail salon, a church, and non-profit serving the area. Details available on request with execution of NDA. Cap is pro forma based on leasing remaining suite at marketed rate of $14 PSF on modified gross terms.

In the heart of the Avondale Community, the property sits on the corner of Dodson Avenue and Ocoee St, offering great visibility. It is just a couple blocks off of Wilcox Blvd, and on a CARTA bus route, which makes it extremely accessible. Plus, there is ample on-site parking available.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033136L G 01300P000
Zoning: C5
Property Located Between: Glass St and Wilcox Blvd
Property Visibility: Excellent
Largest Nearby Street: Amnicola Hwy, Riverside Dr and Wilcox Blvd
Traffic/Vehicle Count: 7,200
Highway Access: 1.2 miles to Riverside Dr/Amnicola Hwy (State Hwy 58)
Airports: CHA
Area Description: Economic and community development efforts in East Chattanooga have paid off in the Avondale Community where the property is located, revamping public spaces and revitalizing opportunities. The Glass Street Gateway initiative, focused on the area around the intersection of Dodson Ave and Glass St just over a half-mile to the north, has brought new art including a street mural, and new retail including a new grocery store. Hardy Elementary School is less than a half mile north. The brand-new Avondale Youth and Family Development Center is just two blocks to the south. The new Nippon Paint facility, under construction about a quarter-mile northwest of the property, will bring 150 new jobs to the neighborhood.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1925
Year Renovated: 2021
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Ample onsite surface parking adjacent to building

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,733 63,018 151,229
Median Age: 35.12 35.24 37.05
Households: 3,425 24,874 64,079

Contact

Photograph of Listing Agent

Kate Eischeid

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Benjamin Pitts

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
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