1304 Mccallie AveChattanooga, TN 37404

Property Details for 1304 Mccallie Ave

Year built

1930

Lot size

0.76 AC

Property size (Sq ft)

21,050 SF

Zone code

M1

Property type

Office properties

Property subtype

Other office properties

APN

146J J 023

APU

146JJ023

Description

This exceptional multi-tenant investment opportunity in Chattanooga, Tennessee, presents a compelling prospect for discerning investors. Located at 1304 McCallie Ave, this property encompasses 21,378 square feet across two, two-story buildings situated on a 1.23-acre lot. The property boasts a 7.26% cap rate and a strong net operating income (NOI) of $417,280, supported by four tenants under long-term leases with annual escalations. The property's diverse tenant mix includes creative office, medical office, and storefront spaces, ensuring a stable and diversified income stream. Extensive renovations were completed between 2018 and 2022, encompassing all major systems, including HVAC, utilities, and a new TPO roof. The property features 80 parking spaces, providing ample convenience for tenants and their clients. Its prime location on McCallie Avenue offers high visibility and accessibility within a thriving community, characterized by a strong demographic profile with a median age of 44.1 and an average household income of $112,137 within a one-mile radius. This Class A property represents a turnkey investment opportunity with significant upside potential. The asking price is $5,750,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,452,167

  6.5%

  $4,109,692

  7%

  $3,816,143

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,428,834

  Geo Method

  $4,106,013

• Alternative Use

  Use

  Valuation

  Residential

  $5,096,018

  Hospitality

  $4,667,926

  Educational

  $3,883,659

  Medical

  $4,017,224

  Retail

  $6,041,248

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0383

Longitude

-85.2822

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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