Current Use by Public Records
- Triptych / Marketing & Advertising / (Bike/Boat/Book/etc) Store
- Willow Body Bar LLC / Gym & Fitness Center / Alternative Medicine Practice
Property Details for 606 Georgia Ave
- Year built
- 1930
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional 7,468-square-foot retail property, located at 606-610 Georgia Ave in Chattanooga, TN, presents a compelling investment opportunity. Built in 1930 and boasting a two-story structure, the building currently houses a mix of established tenants, including Culture Coffee and Golden Slope Wine Bar, ensuring consistent income streams. The property enjoys an 83% occupancy rate, generating a net operating income (NOI) of $86,173 and a 7.18% capitalization rate. The asking price is $1,200,000, translating to $160.69 per square foot. Its prime location across from the Hamilton County Courthouse and adjacent to Unum Group's headquarters ensures high visibility and foot traffic. The property's proximity to UT Chattanooga and the Tennessee Aquarium further enhances its appeal. The upper level offers 1,272 square feet of leasable office space, presenting a significant opportunity to increase cash flow. The current tenants are considered internet-resistant, providing stability and resilience in the current market. Conservative market rents suggest sustained performance and future upside potential. This property offers a unique blend of established income and growth potential in a thriving downtown Chattanooga location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.3061
- Latitude
- 35.0497
