248 Northgate Mall Dr Chattanooga, TN 37415
- Lifestyle centers
- 101,661 SF
Current Use by Public Records
- El Meson at Northgate / Restaurant / Mexican Restaurant
- America's Thrift Stores & Donation Center / Second Hand Store / Used Clothing Store
- Chattanooga College Medical, Dental & Technical Careers, Inc. Satellite Campus / College
- Evans Group: Evans Diane / Real Estate Agency
Property Details for 248 Northgate Mall Dr
- Property size
- 101,661 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Northgate Marketplace, a 101,661-square-foot shopping center in Chattanooga, Tennessee, is offered for sale at $8,400,000. This single-story, multi-tenant retail property boasts a 100% occupancy rate with a seasoned tenancy, including long-term tenants like Chuck E. Cheese (since 1982) and America's Thrift Stores (since 2011). Built in phases (1981 and 1986), the property underwent renovations in 2020. Located at 248 Northgate Mall Dr, Chattanooga, TN 37415, the center benefits from exceptional foot traffic, exceeding 600,000 annual visits, placing it in the 76th percentile nationally for comparable centers. Chuck E. Cheese's location here ranks in the 88th percentile chain-wide. The asking price represents a significant discount to replacement cost, estimated at 25-30% less. The property features ample parking, presenting opportunities for future outparcel development, such as drive-thrus or kiosks. Chattanooga's robust economic growth and strategic location between Nashville and Atlanta further enhance the investment potential. The Net Lease (NNN) structure provides a low-risk, growing cash flow stream with potential upside as leases mature. This is a compelling opportunity in a thriving Sunbelt market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.238
- Latitude
- 35.133
