Income Producing; Sherwin Williams Paint Store

Retail-Commercial for Sale
Catylist Listing ID: 30587022
Property Subtypes: Street Retail
Building Size (RSF): 5,000 SF
Gross Building Area: See Agent
Sale Price: $870,000
Unit Price: $174 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Sherwin Williams Paint Store
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/23/2020

Overview / Comments

Income Producing Property with National Brand Tenant, Sherwin Williams Paint who exercised 5 year renewal 3/1/2020 after ten year sales history at this location. Additional renewal options remain. This 5000 sq ft commercial building, within the Lee Hwy Business Center, has excellent visibility with frontage on well-trafficked 3-Lane Lee Hwy (TN Hwy 64) in the Bonny Oaks / Shallowford growth area. The Business Center contains four Commercial Spaces in four buildings with common frontage, ingress/egress and parking (60 Spaces): 1). Former Coin Op Laundry - 4400 sq ft, Ready for Re-Purposing; 2). Subject Property: Sherwin Williams Paint Store - 5,000 sq ft, National Brand; 3). Former Automotive Repair, 3600 Sq Ft, Ready for Re-Purposing; 4). City Electric Supply – 8320 sq ft, National Brand. Subject Property has deeded right to common access to Rear Parking / Expansion area through gated entry. Such Access also allows for grade-level, side-loading at rear of building. This section of Lee Hwy between Shallowford Rd and Bonny Oaks is a growth corridor with uses in the immediate proximity such as: multi-family (1,000+ units), Grocery, Major Shopping, Medical, Office, Retail, Assisted Living and Mega-Churches.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: City of Chatt, Hamilton Co
Tax ID/APN: 033139I H 00103
Zoning: C2 COMMERCIAL
Retail Clientele: General, Business
Property Located Between: Shallowford Rd and Bonny Oaks
Largest Nearby Street: Lee Hwy (Hwy 11/64), I 75
Site Description: Some portion of the Property may be affected by FEMA 100 yr flood zone. Subject Property is on its own separate, platted lot. Some adjustment to lot lines prior to conveyance may be necessary to address balance of Seller's property (adjacent). Shared wall with adjacent commercial building (owned by Seller; for sale separately).
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1999
Total Parking Spaces: 60
Parking Type: Surface
Parking Description: Common Parking with other Shopping Center occupants. 60 +/- Spaces.
Interior Description: Showroom and Warehouse
Zoning Description: C2 Commercial
In Flood Plain?: Yes
Easements Description: deeded access to rear of buildng through gate.
Land Ownership: Fee
Legal Description: Lot 2 Cooper Edwards Sub, PB 81 PG 190. TAX ID 139I H 001.03

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,262 42,113 112,091
Median Age: 41.76 40.46 39.83
Households: 2,520 17,900 45,461

Contact

Photograph of Listing Agent

John Mitchum

RE/MAX Renaissance Realtors Greater Chattanooga REALTORS® Member
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