2437 Glass StChattanooga, TN 37406

This exceptional Chattanooga commercial property, located at 2437 Glass Street, presents a compelling investment opportunity. The 8,350 square foot, multi-tenant storefront building sits on a substantial 4.792-acre lot and boasts two buildings, each two stories high. Currently 50% occupied, with a projected occupancy date of January 25, 2024, the property offers significant upside potential. The asking price is $1,500,000, representing a pro-forma cap rate of 9.80% and a pro-forma NOI of $147,000. Built in 1917, the property has undergone extensive renovations in 2014, 2016, and 2022, including new windows, plumbing, electrical, roofing, and lead abatement. The front section provides excellent street visibility, ideal for retail or office space, while the back section, with separate street access, is suited for uses such as a distillery. The upper level, currently an art studio, offers versatile conversion options. The property is zoned commercial and features three units, offering flexibility for various uses. Recent upgrades include new windows, a new roof (on both buildings), and the creation of a potential loading dock. This property is a Class C building with a modified lease type. The building's unique character and substantial size make it suitable for a wide range of commercial ventures.