Gateway Mall & Business Center

Shopping Center for Sale
Also listed as Vacant Land
Catylist Listing ID: 30282881
Property Subtypes: Community Center, Mixed Use
Building Size (RSF): 233,109 SF
Gross Land Area: 23.99 Acres
Sale Price: $6,900,000
Unit Price: $29.60 PSF
Property Use Type: Investment
Building Name: Gateway Mall & Business Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/5/2018

Overview / Comments

The Gateway Mall & Business Center boasts high occupancy with a variety of retail, office, restaurant and service oriented businesses. Major tenants include Gateway Antiques, Crossroads Treatment Center, Venue Church, Our House Studios Fitness Center, Personal Integrative Medicine, Ginger Brown's Dance Academy, and Antiques by the Fountain.

This 24-acre site sits just south of Costco, Cabela's, and the Interstate Commerce Center, located on Cloud Springs Road at Interstate 75, just south of the Tennessee Border. The property includes three entrances with two directly from Cloud Springs Road and one from Roadway Drive.

With nearly 100,000 vehicles per day at I-75 and 19,000 on Cloud Springs Road south of Gateway mall, Cloud Springs Road is a key exit both for destination retail and local commuter traffic.

This is an excellent opportunity for an investor to continue operations of this mixed use property and grow net income, or reimagine alternate uses for the structure or the property. Additionally, there is opportunity to develop multiple outparcels for restaurants, retail and/or hotels.

Property tours by appointment only. Do not disturb tenants.

Acreage and building square footage is approximate and is taken from County Tax Assessor Records and has not been verified.

Additional Details

Nearest MSA: Chattanooga
County: Catoosa
Taxing Authority: Catoosa County, Fort Oglethorpe
Tax ID/APN: 0011D-061; -063; -064; and -065
Zoning: COMMERCIAL
Retail Clientele: General, Family, Traveler
Property Visibility: Excellent
Largest Nearby Street: I75 at Cloud Springs Road
Feet of Frontage: 2,000
Traffic/Vehicle Count: 19,000
Highway Access: The property sits 1/4 mile west of Exit 353 at I-75.
Site Description: The property lies below Cloud Springs Road with a retaining wall along the frontage. The majority of the site is level, with three separate points of ingress/egress, an asphalt parking lot surrounding the mall, and three undeveloped outparcels.
Area Description: Cloud Springs Road is the first exit south of the Tennessee/Georgia Border. This exit is well-known for the Costco Warehouse which was established in October 2010 and Cabela’s recreation retail storefront which opened in the fall of 2015.
Property Condition: Good
Year Built: 1983
Parking Type: Surface
Parking Description: Ample surface parking surrounds the mall.
Total Parking Spaces: 1,100
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,303 39,216 125,188
Median Age: 39.39 39.41 38.37
Households: 846 16,324 51,492

Contact

Photograph of Listing Agent

Jason A Lehn

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

Benjamin Pitts

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.