Catylist ID:
#30345985
12,500 SF of Office/Flex Space $40/SF
Office
for Sale
| Catylist Listing ID: | 30345985 |
| Property Subtypes: | Business Park, Executive Suites, Institutional, Medical, Mixed Use, Flex Space, Office Building |
| Building Size (RSF): | 12,500 SF |
| Gross Building Area: | 22,500 SF |
| Gross Land Area: | 0.70 Acres |
| Sale Price: | $500,000 |
| Unit Price: | $40 PSF |
| Ceiling: | 14 ft. |
| Property Use Type: | Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Building Name: | Virtual Studios |
| Class of Space: | Class B |
| Usable Size (USF): | 12,500 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 2/12/2019 |
Overview / Comments
|
The property for sale is 12,500 SF of a 22,500 SF building. There is a 2-hour firewall between the buildings now. The building is 125 wide and 100 feet deep. It is somewhat divided into 5 HVAC areas that are 25 feet wide and 100 feet deep. The floor plan is currently not divided this way but could be multiple suites The current floor plan was used for a church so there are big open areas and large classrooms. On the back right hand side of the building there is a loading dock with a drive-in door and a truck dock. This suite would make an excellent office/Flex space with ample parking. The floor plan is currently mostly open with large offices. Or, a new floor plan could be developed with a much denser office layout. One possible redevelopment concept for this building is to convert it to office flex space with industrial usage behind with offices in front. The docking area could be shared by multiple tenants. Another easy use would be for a gym/crossfit type space. Historically, this building was built for retail use. Retail use is also an easy conversion. Presently the 5 HVAC units for the 12,500 SF are not in working condition. The seller has a quote for $35,000 to replace these units. So, we are offering a $35,000 price reduction from the list price. |
Attachments & Media
Additional Details
| Nearest MSA: | Chattanooga |
| County: | Catoosa |
| Taxing Authority: | Catoosa County |
| Tax ID/APN: | 0010B-015 Lot 2 |
| Zoning: | C 1 |
| Property Located Between: | Just off Mack Smith Rd on Direct Connection Drive near Kinders |
| Property Visibility: | Excellent |
| Highway Access: | 1/4 mile to Ringgold Road;1/2 mile to I-75 Is just across the GA state line off of Exit 1 from I-75 at East Ridge. |
| Airports: | Chattanooga Metropolitan |
| Site Description: | The site is level and at street grade. Paved parking lot is in the front with loading docks to the right and rear of the building. |
| Area Description: | Is located near Exit 1 off of interstate I-75. Exit 1 is where the Bass Pro Shop is plusand new hotels, restaurants and retail is being built. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 12,500 SF |
| Year Built: | 1986 |
| Roof Type: | Flat |
| Construction/Siding: | Stucco |
| Exterior Description: | Front of the building has a retail look to with glass panels. |
| Parking Type: | Surface |
| Parking Description: | Parking lot is in front of the building. There are about 40 parking spaces directly in front of the building. |
| Total Parking Spaces: | 40 |
| Heat Type: | Electricity, Natural Gas |
| Heat Source: | Ceiling Units |
| Air Conditioning: | Engineered System |
| Interior Description: | Last use was for a church. So there are many classroom type rooms with offices and open areas. |
| Zoning Description: | Commercial |
| Lot Frontage: | 500 |
| Lot Depth: | 200 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | Owned |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,201 | 56,979 | 143,700 |
| Median Age: | 39.36 | 38.66 | 38.39 |
| Households: | 3,946 | 24,993 | 59,121 |
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