Restaurant Investment Property For
For Sale
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2316 E 3rd St, Chattanooga, TN 37404
Restaurant in Chattanooga's medical community with development potential.
Property Size1,337 SF
Price / SF$486.16
Days on Market678
Property Features for 2316 E 3rd St
General Information
Standard status
Active
Size
1,337 SF
Property subtype
Retail
Zoning
C-C
Building Details
Year Built
1965
Listing Agency:
Herman Walldorf Commercial, Inc.
(423) 756-2400
Listed By:
Jason Lehn · License #TN 323440
Source:
Crexi
Added: Oct 3, 2024
Changed: Aug 11
Last Checked: Aug 11 at 10:43AM
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,036
Businesses Nearby
142k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Hotels & Casinos 32%
Leisure 23%
Shops & Services 4%
AMC CLASSIC Majestic 12
Leisure
17,819 visits/mo
0.1 miles
Holiday Inn & Suites Chattanooga Downtown, an IHG Hotel
Hotels & Casinos
14,703 visits/mo
0.2 miles
Tennessee Aquarium IMAX 3D Theater
Leisure
14,304 visits/mo
0.2 miles
Chili's Grill & Bar
Dining
13,135 visits/mo
0.1 miles
Buffalo Wild Wings
Dining
12,354 visits/mo
0.1 miles
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
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.
