605 Cherokee BlvdChattanooga, TN 37405

Property Details for 605 Cherokee Blvd

Year built

1925

Lot size

0.25 AC

Property size (Sq ft)

2,788 SF

Zone code

C2

Property type

Office properties

Property subtype

Other office properties

APN

135C C 012

APU

135CC012

Description

This exceptional commercial property, located at 605 Cherokee Blvd., Chattanooga, TN 37405, presents a unique investment opportunity. The 2,788 square foot building sits on a 0.304-acre lot and is currently 100% occupied by a tenant with a 30-day notice clause. The property boasts a Class C designation and is zoned E-CX-3, allowing for diverse uses including executive office, storefront retail, and even quick-service restaurants (QSR). Built in 1925, this single-story building offers ample on-site parking, catering to both pedestrian and vehicular traffic. The high-visibility location on Cherokee Boulevard, a major thoroughfare with over 14,000 cars passing daily, ensures significant exposure. The surrounding Northshore area is thriving, with nearby amenities such as Whole Foods, CVS, Coolidge Park, Renaissance Park, and numerous restaurants, offices, and residential properties. The property's true value lies in its prime location and high traffic count, making it ideal for redevelopment. Potential uses include a new retail establishment with a drive-thru, or a multi-story building incorporating residential units. Access from both Cherokee Boulevard and West Bell Avenue enhances its appeal. This is a rare chance to acquire a highly visible and versatile commercial property in one of Chattanooga's most desirable areas. The asking price is $975,000. The property is offered as a gross lease, single tenancy.

• CAP approach

  CAP return

  Valuation

  6%

  $589,674

  6.5%

  $544,315

  7%

  $505,435

• Comparable approach

  Method

  Valuation

  Relative Method

  $454,137

  Geo Method

  $543,827

• Alternative Use

  Use

  Valuation

  Residential

  $674,950

  Hospitality

  $618,251

  Educational

  $514,377

  Medical

  $532,068

  Retail

  $800,142

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0694

Longitude

-85.3173

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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