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2437 Glass St Chattanooga, TN 37406

Sponsored
For Sale
$1,500,000

8,350 SF Multi-Tenant Retail Building

Property size:
8,358 SF

Description

Added:
Dec 11, 2024
Days on Market:
393
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.

Property Features for 2437 Glass St

General Information

Property type
Individual retail properties
Square Feet
8,358 SF
Class
C
Lot Size
208,739,520 SF

Building Details

Year Built/Renovated
1917/4
Buildings
2
Stories
2
Units
3

HighLights

  • 8,350 SF multi‑tenant building on a 4.79‑acre lot in Chattanooga, TN.
  • Two two‑story buildings, currently 50% occupied, projected full occupancy January 25, 2024.
  • $1,500,000 asking price, projecting a 9.80% cap rate and $147,000 NOI.
  • 1917 construction with extensive renovations (2014, 2016, 2022), including new roof, windows, plumbing, electrical, and lead abatement.
  • Three units, zoned commercial, offering flexible use options; front section ideal for retail/office, rear section with separate access suitable for distillery or similar use.
  • Class C building with modified lease type.
Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

Location Insight

  • Map
  • Local Demand
City
Chattanooga
County
Hamilton
State
Tennessee
Longitude
-85.25015979
Latitude
35.06509972

FAQs

What type of property is this?
Individual retail property - 8,350 SF Multi-Tenant Retail Building
Where is this individual retail property located?
The property is located at 2437 Glass St Chattanooga, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,350 SF multi-tenant building on a 4.79-acre lot in Chattanooga, TN.; Two two-story buildings, currently 50% occupied, projected full occupancy January 25, 2024.; $1,500,000 asking price, projecting a 9.80% cap rate and $147,000 NOI.
More about this property
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