Historic McCallie Ave Building For Sale

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30745298
Property Subtypes: Office Building, Other
Building Size (RSF): 7,580 SF
Gross Building Area: See Agent
Sale Price: $1,350,000
Unit Price: $178.10 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 7/12/2021

Overview / Comments

Historic McCallie Ave office/ retail building for sale. This property is close to downtown without the traffic & parking issues. Includes 1412, 1414, 1416, 1418, and 1420 McCallie Ave with large parking lot behind the building. It is currently 100% leased. The property is divided into 3 separate offices now but could easily be converted to 4 or 5 spaces.
1412: 900 sf, tenant is in first 3 year term that expires December 31, 2022
1414-1418: 5050 sf, law firm has been in the space for 13 years. Current lease expires May 30, 2022 with an additional 3 year option with increase.
1420: 1,565 sf, tenant is in first year of a 3 year lease that expires June 30, 2023
Since its renovation in 2003, this building rarely has a vacancy. Well maintained. Would make a great investment or owner occupied building.

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Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033146J J 02700
Highway Access: Easy access from downtown and I-24
Area Description: Located near downtown Chattanooga in an area that has seen tremendous residential and commercial investment recently.
Total Number of Buildings: 5
Number of Stories: 1
Year Built: 1920
Year Renovated: 2003
Construction/Siding: Brick
Exterior Description: Historic brick building with storefront entrances along McCallie Avenue. Inviting and easy access at the rear of the building from the parking lot. Ample parking for tenants and guests.
Parking Ratio: 5.5 (per 1000 SF)
Parking Type: Surface
Parking Description: Ample parking in the rear of the building. Well maintained parking lot with plenty of parking for tenants and guests.
Total Parking Spaces: 38
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: Very nicely renovated building with regular upgrades since its 2003 renovation.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,470 76,333 140,380
Median Age: 32.14 35.3 36.75
Households: 4,249 30,689 58,463


Photograph of Listing Agent

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Janus Commercial, LLC Greater Chattanooga REALTORS® Member
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