1505 37Th StChattanooga, TN 37407

Property Details for 1505 37Th St

Year built

1978

Lot size

0.17 AC

Property size (Sq ft)

2,205 SF

Zone code

M1

Property type

Retail properties

Property subtype

Gas stations

APN

168A M 037

APU

168AM037

Description

This exceptional 2,205 square foot flex space, located at 1505 E 37th St in Chattanooga, Tennessee, presents a unique investment opportunity. The property, built in 1980 and extensively renovated in 2022, boasts two buildings situated on a 0.18-acre lot. The permitted commercial zoning allows for a variety of uses, making it ideal for a diverse range of businesses. Previously used as a car showroom and garage, the space offers ample room for both storage and office functions. Its adaptable layout makes it suitable for a variety of businesses, including those seeking flex space or those considering a conversion into a restaurant or coffee shop. The property's strategic location just off Rossville Boulevard provides excellent visibility and convenient access to downtown Chattanooga, Saint Elmo, and Lookout Mountain, ensuring high traffic and easy commutes for employees and customers. The asking price is $360,000, representing a compelling value for this renovated and versatile property in a rapidly growing area. The single-tenancy structure offers simplicity and control for the owner. This is a rare opportunity to acquire a well-maintained, adaptable commercial property in a desirable Chattanooga location.

• CAP approach

  CAP return

  Valuation

  6%

  $685,560

  6.5%

  $632,824

  7%

  $587,623

• Comparable approach

  Method

  Valuation

  Relative Method

  $905,114

  Geo Method

  $1,083,870

• Alternative Use

  Use

  Valuation

  Residential

  $533,811

  Hospitality

  $488,968

  Educational

  $406,816

  Medical

  $420,807

  Retail

  $632,824

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0013

Longitude

-85.2938

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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