OVER $1 Million Price Reduction Downtown Chattanooga Opportunity Zone

Office for Sale
Catylist Listing ID: 30532040
Property Subtypes: Executive Suites, Mixed Use, Office Building, Other
Building Size (RSF): 54,000 SF
Gross Building Area: See Agent
Gross Land Area: 10,000 SF
Sale Price: $2,500,000
Unit Price: $46.30 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class E
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/21/2020

Overview / Comments

TWO historic buildings located in Opportunity Zone
54,000 sf located in the Heart of Downtown Chattanooga between 6th and 7th Streets
50 feet of frontage on Market and Broad Street. Buildings are 200 feet in length.
Ideal location for apartments, condos, office, hospitality, retail and more.
Each building has 4 floors and a full length basements.
Historic architectural details include beautiful brick walls, high ceilings, hardwood floors and period arched windows with scenic views.
Buildings have both passenger and freight elevator shafts.
Parking potentially could be added in basement. There are also parking garages across the street with monthly rental lease opportunities.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033135MDC 00800
Zoning: D-CX-12
Property Located Between: Broad and Market, 6th and 7th
Property Visibility: Fair
Highway Access: Easy access to Highway 27 and Interstate 24.
Airports: Chattanooga Airport
Area Description: Located in the City Center District Where the skyscrapers meet the inner city parks between Fourth Street and 12th Street, the City Center is the current focus of revitalization in the heart of Chattanooga. Occupied by many of the city’s major businesses such as Unum, EPB, TVA, Cigna, Republic Parking Systems, First Tennessee and Suntrust Banks, as well as the financial district, the Central Business District is also home to many restaurants, nightspots, upscale condos and attractions such as the Read House Hotel, Warehouse Row Shopping Center, Hamilton County Courthouse, Federal Building, Hamilton County Bicentennial Library, Miller Park and Miller Plaza.
Total Number of Buildings: 2
Number of Stories: 4
Year Built: 1886
Year Renovated: 1968
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Historic brick walls, wood floors and arched windows
Passenger Elevators: 2
Freight Elevators: 2
Sprinklers: Wet
Zoning Description: D-CX COMMERCIAL MIXED USE ZONE 12 STORIES, 150' MAX
Lot Frontage: 50
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 619 Market - Pt Lts 43 & 45 Original Town Market N/R 621 Market - Lt Pt 45 Original Town Market St N/ R 0072 32 09

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,174 49,159 127,127
Median Age: 32.04 33.76 36.72
Households: 3,804 19,720 52,886

Contact

Photograph of Listing Agent

Lisa A Brown

Keller Williams Realty Greater Chattanooga REALTORS® Member
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