E. Third Street Building Complex

Retail-Commercial for Sale
Catylist Listing ID: 29657171
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 4,514 SF
Gross Land Area: 15.68 - 15,682 SF
Sale Price: $400,000
Unit Price: $88.61 PSF
Property Use Type: Business
Building Name: J. T. Mc Daniel Novelty
Core Factor: 4.51%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/21/2018

Overview / Comments

There are two parcels located on this property. The list price is inclusive of both parcels. All tenants are on a month to month rental.

The larger parcel has 2,450 sq. ft. and was built in 1950. This building was originally operated as a service station and later converted to a use as a restaurant. It has four baths and is currently vacant.

The second (L-Shaped) building was built in 2004 and is about 2,065 sq. ft. It is divided into two separate business. Both sections are rented and are approx. 950 sq. ft. each. One side is rented as office space and the second portion is rented for use as a lounge. The is one bath facility in each unit.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 146B P 016.01
Zoning: C-1
Market Type: Medium
Retail Clientele: Business
Property Located Between: Mc Callie Avenue and Glenwood Drive
Side of Street: Northeast
Road Type: Paved, Highway
Property Visibility: Excellent
Largest Nearby Street: Glenwood Drive
Feet of Frontage: 170
Traffic/Vehicle Count: 12,712
Transportation: Bus, Highway, Taxi
Highway Access: I-24
Site Description: This building is in good conditions. The location is perfect for use of various businesses.
Area Description: Surrounds business near this property are churches, medical facilities and service stations.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 2 SF
Property Condition: Average
Year Built: 1950
Year Renovated: 2004
Construction/Siding: Block
Total Parking Spaces: 15
Parking Type: Surface
Parking Description: Small parking availability in front of business.
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Typical community restaurant, convience store type setup in building one. Small office setup in one portion of the second building.
Lot Frontage: 170
Lot Depth: 91
Easements Description: N/A
Land Ownership: This land is owned by the Seller.
Legal Description: PT LT 51 East End Syndicate Pb 3 Pg 11 Pu 9223

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,619 74,535 144,271
Median Age: 33.72 35.19 36.84
Households: 3,992 30,158 60,585
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