306 Cherokee BlvdChattanooga, TN 37405

Property Details for 306 Cherokee Blvd

Year built

1940

Lot size

0.15 AC

Property size (Sq ft)

4,410 SF

Zone code

C2

Property type

Land

Property subtype

Commercial land

APN

135F F 005

APU

135FF005

Description

This exceptional investment opportunity presents a fully-leased, 7,000 square foot, Class A retail building located in Chattanooga, Tennessee's bustling Northshore district, a prime retail hub. The property, situated on a 0.6-acre lot, boasts a highly visible location on Cherokee Boulevard, experiencing an average daily traffic count of 16,000 vehicles. The building, constructed in 2024, features two units currently 100% occupied by Chase Bank and AFC Urgent Care, under a Net Lease (NNN) agreement. Chase Bank, backed by a corporate guarantee, occupies one unit and is slated to open in Q4 2024, while AFC Urgent Care will open in Q1 2025, also under a corporate guarantee. Both tenants benefit from a 15-year (Chase) and 10-year (AFC) initial lease term, with 10% rent increases every five years. The property offers 24 parking spaces and is zoned E-CX-4. With a current Net Operating Income (NOI) of $273,000, this investment offers a compelling 5.25% cap rate at an asking price of $5,250,000 ($750 per square foot). This represents a strong, stable investment in a rapidly growing city. The property is for sale by owner.

• Alternative Use

  Use

  Valuation

  Residential

  $1,067,622

  Hospitality

  $977,936

  Educational

  $813,631

  Medical

  $841,613

  Retail

  $1,265,649

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0644

Longitude

-85.3124

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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