Shopping Center with National
For Sale
$13,020,000
3901-3905 Hixson Pike, Chattanooga, TN 37415
Established shopping center with a diverse mix of service, grocery, discount, and medical tenants.
Property Size129,071 SF
Price / SF$100.87
Days on Market48
Property Features for 3901-3905 Hixson Pike
General Information
Standard status
Active
Size
129,071 SF
Property subtype
Shopping Strip
Site & Location
Anchor Co-Tenants
Big Lots, Dollar Tree, Five Below, Pet Supplies Plus, CHI Memorial Health
Traffic Count
42,000 vehicles/day
Road Access
Yes
Additional Details
Cap Rate
7.5%
Amenities
HIGHLAND PLAZA | CHATTANOOGA, TN
DIVERSE TENANT MIX | STRONG TENANT TENURE
STRATEGIC LOCATION
CHATTANOOGA, TN | 11M + ANNUAL TOURISM IMPACT
Building Details
Building Size
129,071 SF
Year Built
1989
Tenancy
Multi
Listing Agency:
Atlanta Office
Listed By:
Zach Taylor · License #License(s): GA: 266327
(678) 808-2780
Source:
Marcusmillichap
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 28 at 5:05AM
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 Atlanta Office
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Highland Plaza is a 129,071 SF shopping center built in 1989, with an established tenant roster spanning service, discount, grocery, and medical uses. National and regional occupants include Big Lots, Dollar Tree, Five Below, Pet Supplies Plus, and a Walmart Neighborhood Market shadow anchor. The property also includes the CHI Memorial Health outparcel. Average tenant tenure exceeds 10 years, and two recently signed leases represent 31% of the GLA.
The center occupies the signalized intersection of Hixson Pike and Ashland Terrace in Chattanooga, with direct access from both roads, three points of ingress and egress, and 42K+ combined VPD. The surrounding 5-mile area has a population of 102,454 and average household income of $105,761, with reported growth of 3.64%.
The center occupies the signalized intersection of Hixson Pike and Ashland Terrace in Chattanooga, with direct access from both roads, three points of ingress and egress, and 42K+ combined VPD. The surrounding 5-mile area has a population of 102,454 and average household income of $105,761, with reported growth of 3.64%.
Key Highlights
- 129,071 SF shopping center built in 1989
- Tenant mix includes service, discount, grocery, and medical users
- National occupants include Big Lots, Dollar Tree, Five Below, Pet Supplies Plus, and Walmart Neighborhood Market
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$997,461
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,949,220
$19.9M
Cap Rate 7%
$14,249,443
$14.2M
Cap Rate 9%
$11,082,900
$11.1M
Market Conditions
NOI Build-Up for 129,071 SF
Gross rent
$1.55M $12.00/SF
− Vacancy
−$123.9K −$0.96/SF
EGI
$1.42M $11.04/SF
− OpEx
−$427.5K −$3.31/SF
NOI
$997.5K $7.73/SF
Area
Chattanooga, TN
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,949,220
Cap Rate 7%
$14,249,443
Cap Rate 9%
$11,082,900
Alternative Uses
Best Use
Retail
$14.25M
$12.47M – $16.62M
NOI $997,461 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$28.51M
$24.94M – $33.26M
NOI $1,995,417 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
42,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
141k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 29%
Dining 18%
Superstores 12%
Walmart Neighborhood Market
Groceries
40,370 visits/mo
0.1 miles
Weigel's
Shops & Services
20,530 visits/mo
0.3 miles
Big Lots
Superstores
17,309 visits/mo
0.1 miles
Five Below
Shops & Services
14,742 visits/mo
0.2 miles
Taco Bell
Dining
12,193 visits/mo
0.5 miles
Demographics for 37415, TN
23,580
Population
11,970
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,347
Density / Sq Mi
$67,027
Median Household Income
$42,933
Median Earnings
$1,240
Median Rent
$261,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Rivermont Shopping Center — 3600 Hixson Pike, Chattanooga, TN 37415
Frequently Asked Questions
What type of property is this?
Shopping center - Established shopping center with a diverse mix of service, grocery, discount, and medical tenants.
Where is this shopping center located?
The property is located at 3901-3905 Hixson Pike Chattanooga, TN.
What is the asking price?
The asking price for this property is $13,020,000.
What are key features of this property?
This property features: 129,071 SF shopping center built in 1989; Tenant mix includes service, discount, grocery, and medical users; National occupants include Big Lots, Dollar Tree, Five Below, Pet Supplies Plus, and Walmart Neighborhood Market
