2316 E 3rd St Chattanooga, TN 37404
Restaurant in Chattanooga's medical community with development potential.
Type:Retail
Property size:
1,337 SF- Added:
- Oct 3, 2024
- Days on Market:
- 565
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 2316 E 3rd St
General Information
- Standard status
- Active
- Size
- 1,337 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing agent Jason Lehn License #TN 323440
Listing office Herman Walldorf Commercial, Inc.
Listing date Oct 3, 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 Herman Walldorf Commercial, Inc.
Overview
Restaurant Investment Property For Sale
Located in the Glenwood neighborhood of Chattanooga, Tennessee, this investment property offers long term stable income and excess land which provides opportunity for additional development. The property is situated in the heart of Chattanooga’s medical community, anchored by CHI Memorial Hospital and Parkridge Medical Center, featuring multi-tenant medical office buildings and freestanding clinics, in addition to community centers, non-profit organizations, and schools. This location benefits from a large daytime population, providing a steady flow of patrons from area residents and the commercial sector. The property is occupied by American Wings, a quick service restaurant featuring a menu of chicken wings and tenders, Philly sandwiches and subs, fried fish and shrimp, fried rice, and fries and onion rings. The restaurant has been operating at this location since 2016. The investment includes a new 10-year Triple Net (NNN) lease with rental increases of 10% every five years, including option periods. The lease terms offer two renewal periods of five years each, potentially extending the lease term to 20 years. The property size is 1337 square feet. The northeast corner of the property could be further developed for additional parking or for a small footprint drive thru operation or food truck.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
American Wings
Restaurant
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.265944
- Latitude
- 35.0384029
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Restaurant in Chattanooga's medical community with development potential.
Where is this conventional restaurant located?
The property is located at 2316 E 3rd St Chattanooga, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Brand‑new 10‑year Triple Net (NNN) lease with 10% rental increases every five years.; Opportunity for additional development on excess land.; Located in the heart of Chattanooga's medical community with a large daytime population.
