Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property in Chattanooga Southside Title is generated by Realmo AI

    1939 Central Ave, Chattanooga, TN 37408

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Mixed-use property with retail and residential units in Chattanooga.

    Type:Retail, Office
    Property size:
    6,533 SF
    Added:
    Jul 19, 2024
    Days on Market:
    684
    Last Refresh:
    May 12 at 9:12 pm

    Property Features for 1939 Central Ave

    General Information

    Standard status
    Active
    Size
    6,533 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 1939 Central Ave Contact us

    We can help!

    Listing Contact
    Bianca Pichardo
    Bianca Pichardo

    Listing agent Bianca Pichardo License #TN 362035

    Listing office SVN Second Story Real Estate Management

    Listing date Jul 19, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of SVN Second Story Real Estate Management

    HighLights

    • Located in Chattanooga's highly desirable Southside neighborhood.
    • Part of Central Crossing, a new iconic mixed‑use building.
    • 6,533 SF of commercial space available.
    • On‑site and street parking available.
    • New construction (built in 2024).
    • Building includes 32 residential units, appealing to urban dwellers.

    Overview

    This unique mixed-use property is under development in the Southside neighborhood of Chattanooga. The building, named Central Crossing, will offer 6,533 square feet of commercial space on the bottom floor. The property includes on-street and on-site parking. The building will also feature 32 residential units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Servicio El Paisano Translation Service Tienda Maya Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.2994763
    Latitude
    35.026822

    Nearby Similar for Lease

    • Sponsored
      $129-$4,286/Mo
      11-1,292 SF

      Tallan Financial Center

      200 Martin Luther King Blvd, Unit 1000, Chattanooga, TN 37402
      View Details
    • $14 SF/Yr
      1,700 SF

      Chattanooga Commercial Suite For Rent

      Commercial suite in active business district, ideal for various uses.
      6111 Heritage Park Dr, Chattanooga, TN 37416
      View Details
    • $30 SF/Yr
      1,071 SF

      Southside Chattanooga Office Space

      Office space in a walkable, sought-after Chattanooga neighborhood.
      27 W 19TH ST, Chattanooga, TN 37408
      View Details
    • $26 SF/Yr
      1,380 SF

      Retail Space For Lease

      1,380 SF retail space with high visibility and ample parking.
      1414 Jenkins Road, Chattanooga, TN 37421
      View Details
    • $28 SF/Yr
      11,544 SF

      Prime Northshore Retail/Office Space

      Sought-after location near dining, shopping, and downtown Chattanooga attractions.
      419 N Market St, Chattanooga, TN 37405
      View Details
    • $26 SF/Yr
      1,620 SF

      East Brainerd Retail Space Available

      Retail space in established commercial corridor with high-income demographics.
      8000 East Brainerd Road, Chattanooga, TN 37421
      View Details
    • $30 SF/Yr
      1,395 SF

      Downtown Chattanooga Retail Space Available

      Retail space in downtown Chattanooga, anchored by Tapestry by Hilton.
      736 broad st, chattanooga , TN 37421
      View Details
    • $14 SF/Yr
      1,300 SF

      Retail Space Near UTC Campus

      Retail space for rent near UTC, Erlanger, and downtown.
      870 Vine St, Chattanooga, TN 37403
      View Details
    • $30 SF/Yr
      1,071 SF

      Southside District Office Space

      Office space in Chattanooga's innovation, culture, and urban district.
      27 West 19th Street, Chattanooga, TN 37408
      View Details
    • $25 SF/Yr
      10,662 SF

      Historic Office Building in Chattanooga

      Restored historic office building in Chattanooga's Central Business District.
      109 E 7th Street, Chattanooga, TN 37402
      View Details
    • $17 SF/Yr
      4,000 SF

      Versatile Space in Thriving Southside

      Adaptable 4,000 SF space ideal for retail or office.
      1800 Rossville Ave, Chattanooga, TN 37408
      View Details
    • $14 SF/Yr
      1,300 SF

      Fort Wood Retail Space

      1,300 SF retail suite near UTC and Erlanger.
      870 Vine Street, Chattanooga, TN 37403
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and residential units in Chattanooga.
    Where is this mixed-use property located?
    The property is located at 1939 Central Ave Chattanooga, TN.
    What are key features of this property?
    This property features: Located in Chattanooga's highly desirable Southside neighborhood.; Part of Central Crossing, a new iconic mixed‑use building.; **6,533 SF of commercial space available.**
    (423) 682-8241 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bianca Pichardo
    Bianca Pichardo
    Real Estate License ID: TN 362035
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1939 Central Ave, Chattanooga, TN 37408
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!