848 & 852 McCallie Ave. FOR SALE


Chattanooga, TN - Arts District
$1,238,000 USD
423-752-0709
, Chattanooga, TN for Sale
$1,238,000 USD
FOR SALE
1/32
null | 5.77% Cap Rate

848 & 852 McCallie Ave.
Chattanooga, TN
Arts District


OVERVIEW

Unique mixed-use opportunity near the University of Tennessee at Chattanooga (UTC). Offering includes two adjacent stately older homes. One has been modified into a five unit multifamily. The second currently houses a women’s health business with offices and treatment rooms. The location is highly desirable as to both the demand for housing near the university and downtown Chattanooga and a prime location for small businesses, particularly those that are health-related, serving the Chattanooga metropolitan region. The location on a major traffic artery with easy access to the properties contributes to the value of the assets. The Zip Code in which the properties are located enjoys a strong average capitalization rate of 5.89% for commercial property transactions, and this property package profile fits comfortably near that average. Value is also enhanced by its location within an Opportunity Zone. A single driveway to a common parking lot in the rear necessitates that the properties be sold in a single transaction.

ASK ABOUT THIS PROPERTY

Philip LancasterRock Point Real EstateMore Info
423-752-0709

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Philip LancasterRock Point Real EstateMore Info
423-752-0709

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.