Investment Opportunity | Freestanding Building/Restaurant on Main St

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30667722
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 6,865 SF
Gross Building Area: See Agent
Gross Land Area: 0.67 Acres
Sale Price: $575,000
Unit Price: $83.76 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 9/2/2021

Overview / Comments

Freestanding retail building recently occupied by a Mexican restaurant. A triple net lease is currently in place until October 2023; base rent for the first year is $4,000/mo, and base rent for the second year is $4,500/mo. Tenants have an option agreement to continue the lease for 5 years after the current lease expires. The building itself features 6,865 sqft and sits on approximately 0.67 acres. Additionally, it boasts 136 ft of road frontage, a spacious parking lot with 28 parking spaces, 2 bathrooms, high ceilings, a commercial kitchen, dining room, and a roll-up bay door perfect for deliveries and shipments. Situated near an abundance of thriving businesses and recognizable franchises like Sonic, Family Dollar, Auto Zone, CVS Pharmacy, and Ingles. Located in a growing residential community (with neighborhoods like Jasper Highlands expanding in popularity) and just minutes from Hwy 28 and I-24 access, this location serves both residents and those passing through. 20 minutes away in Bridgeport, AL a new Google data processing center is being constructed. It is expected to be a multi-year project before it is completed. Jasper is anticipated to experience continual growth because of this data center, due to the lack of current housing in Bridgeport, and its close proximity to the project. Since the property is currently tenant occupied, showings can only be scheduled with an accepted offer or letter or intent.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Marion
Tax ID/APN: 107P C 017.00
Zoning: C-2
Property Visibility: Excellent
Largest Nearby Street: Main St
Feet of Frontage: 136
Traffic/Vehicle Count: 9,500
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,865 SF
Property Condition: Good
Year Built: 2000
Total Parking Spaces: 28
Parking Type: Surface
In Flood Plain?: Yes
Lot Frontage: 136
Lot Depth: 209
Legal Description: Gis 2001 107P C 27.00 Easement 336-864

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,057 5,110 9,611
Median Age: 47.36 42.46 42.9
Households: 456 2,124 3,884

Contact

Photograph of Listing Agent

Grace Frank

Chattanooga Real Estate Group Greater Chattanooga REALTORS® Member
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