Family Dollar & Adjacent Corner Parcel
12,840 SF | 100% Leased | Retail Building | Chattanooga, TN 37421 | $965,963 ($75/SF) | 8% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $965,963
- Property Type
-
Retail
- Square Feet
- 12,840 SF
- Price / Square Foot
- $75
Listing Contacts
Johnny Blue Craig
Verified Profile
Collin Cambas
Verified Profile
- Property Info
Property Overview
This low price point acquisition opportunity is ideal for a buyer with a 1031 need, an investor in search of strong annual cash flow, or for a value-add buyer.
The property's location in the growing market of Chattanooga, TN and positioning on 2.42 acres at a signalized intersection provides options for the buyer. Should a buyer want stability and yield, Family Dollar has been a tenant at the property for over 20 years, instilling long-term confidence. If the buyer desires value-add returns, McBee, which is the tenant occupying the free-standing building on the corner parcel, is paying a below-market, gross rental rate, and the owner has the ability to terminate the lease early and mark-to-market.
The property's location in the growing market of Chattanooga, TN and positioning on 2.42 acres at a signalized intersection provides options for the buyer. Should a buyer want stability and yield, Family Dollar has been a tenant at the property for over 20 years, instilling long-term confidence. If the buyer desires value-add returns, McBee, which is the tenant occupying the free-standing building on the corner parcel, is paying a below-market, gross rental rate, and the owner has the ability to terminate the lease early and mark-to-market.
Property Details
- Class
- B
- Year Built
- 2001
- Stories
- 1
- Property Subtype
- Freestanding, Storefront
- Lot Size (sq. ft)
- 105,415 SF
Highlights
- Family Dollar Committed to the Site: Family Dollar has been a tenant at the property for more than 20 years.
- Valuable Land for Less than $400k/Acre: The property is 2.42 acres on a hard, signalized intersection less than 1.5 miles from I-75.
- Value-Add Opportunity: McBee (stand-alone building on corner parcel) is paying a below-market, gross rental rate and can be terminated early.
- Income Tax-Free State
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