Multi-Tenant Investment
1304 McCallie Ave Chattanooga, TN 37404
1304 McCallie Ave, Chattanooga, TN, 37404
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For Sale
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Fully occupied commercial property with long-term leases in Chattanooga, TN.
Property Size21,378 SF
Lot Size1.23 Acres
Price / SF$268.97
Days on Market680
Property Features for 1304 McCallie Ave
General Information
- Standard status
- Active
- Size
- 21,378 SF
- Lot size
- 1.23 Acres
- Property subtype
- Mixed Use, Office, Retail, Special Purpose
Listing Agency
SVN Second Story Real Estate Management
(423) 400-0723
Listed by
J. Matthew McGauley · License #TN 291079
Source
Crexi
Added: Sep 9, 2024 Updated: Jul 6 at 7:41 am Checked: Jul 19 at 6:51 am
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
Investment Insights
Based on property information with market context.
This multi-tenant commercial property, located on McCallie Avenue in Chattanooga, Tennessee, presents an investment opportunity. The property features 21,378 square feet of space on a 1.23-acre lot. The building is 100% occupied with long-term leases that include annual escalations, providing a consistent income stream. Extensive renovations were completed between 2018 and 2022, updating the utilities, HVAC systems, and TPO roof. The property benefits from high visibility and ample parking, offering accessibility for customers and clients. There are currently four tenants in place. Situated on McCallie Avenue, the property is located in a community with a projected population growth. Within a 1-mile radius, the median age is 44.1 and the average household income is $112,137.
Key Highlights
- 100% occupied with long‑term leases and annual escalations, providing a steady and reliable income stream.
- Extensive renovations completed from 2018 to 2022, including utilities, HVAC, and TPO roof.
- Prime location on highly trafficked McCallie Ave with ample parking.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $384.8k | $18.00 |
| − Vacancy | −$57.7k | −$2.70 |
| EGI | $327.1k | $15.30 |
| − OpEx | −$81.8k | −$3.82 |
| NOI | $245.3k | $11.48 |
21,378 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.50M
$3.07M – $4.09M
NOI $245,313 @ 7.0% cap · market cap 4.27%
Second Best
Mixed Use
$3.37M
$2.95M – $3.93M
NOI $236,013 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$4.72M
$4.13M – $5.51M
NOI $330,500 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
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Gym & Fitness Center
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FAQs
What type of property is this?
Mixed-use property - Fully occupied commercial property with long-term leases in Chattanooga, TN.
Where is this mixed-use property located?
The property is located at 1304 McCallie Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 100% occupied with long‑term leases and annual escalations, providing a steady and reliable income stream.; Extensive renovations completed from 2018 to 2022, including utilities, HVAC, and TPO roof.; Prime location on highly trafficked McCallie Ave with ample parking.
