4602 Hixson Pike Chattanooga, TN 37343
- Office Properties & Spaces
- 5,874 SF
- 0.59 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 4602 Hixson Pike
- Year built
- 1973
- Lot size
- 0.59 lot acres
- Property size
- 5,874 SF
- Property type
- Office Properties & Spaces
Description
This exceptional value-add opportunity presents a 10-unit office building located at 4602 Hixson Pike in Chattanooga, Tennessee. The property, known as Mt Vernon Center, comprises three buildings totaling 5,874 square feet of net rentable space across two stories, situated on a 0.59-acre lot. Built in 1973, the Class B building currently boasts 90% occupancy with ten tenants under net lease agreements. The property generates a current Net Operating Income (NOI) of $42,000, with a pro-forma NOI also at $42,000. The asking price is $950,000, presenting a compelling investment opportunity. The property is zoned for commercial use and offers ample parking. The location on the busy Hixson Pike ensures high visibility and accessibility. This multi-tenant building presents a chance to increase profitability by raising rents to market value. The property is available for a 1031 exchange. Further details are available upon request.
Value Estimation
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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
- -85.2482
- Latitude
- 35.1215
