20 Unit Shopping Center on Busy Stretch of Ashland Ter

Shopping Center for Sale
Also listed as Retail-Commercial, Office
Catylist Listing ID: 30771509
Property Subtypes: Strip Center
Building Size (RSF): 17,303 SF
Gross Land Area: 1.88 Acres
Sale Price: $2,100,000
Unit Price: $121.37 PSF
Property Use Type: Investment
Building Name: Frazier Pointe
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 11/22/2021

Overview / Comments

Two-story commercial retail strip center located on a busy stretch of Ashland Ter. Frazier Pointe is a 17,303 sqft building that features 20 suites; each have private entrances, private restrooms, individual HVAC units, individual water and electric meters, and are approximately 825 sqft in size. The strip center was built in 1974 and has been well-maintained since then. Recent updates include fresh exterior paint, new road-front signage, and a re-surfaced parking lot. Of the 20 suites, there is only one vacancy. GMI is approximately $13,000. Anchor tenants include Ozone Fitness, NoogaDisc, Hair Savvy, Ming Ming Nail Spa, The Rustic Rose Vintage Treasures, and Sasabodies Personal Training. These suites are ideal for small businesses, service industry providers, retail, office, or even restaurants, bakeries, or catering companies. There is an abundance of parking in front for clients, tenants, customers and employees. Situated on a primary street between Red Bank and Hixson, this building sees approximately 18,000 cars a day, and offers quick access to downtown Chattanooga, Dayton Blvd, Hixson Pike, and Hwy 153 alike.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 109N E 026.01
Zoning: C-2
Property Visibility: Excellent
Traffic/Vehicle Count: 18,000
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1974
Parking Type: Surface
Lot Frontage: 493
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lt 2, Pt Lt 1, Central Addn Pb39 Pg 311 Rev39-389 Ashland Terrace

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,641 41,358 102,326
Median Age: 39.81 37.95 39.87
Households: 4,324 18,619 44,245

Contact

Photograph of Listing Agent

Grace Frank

Chattanooga Real Estate Group Greater Chattanooga REALTORS® Member
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