Warehouse

3709 & 3819 Calhoun Ave

3709 & 3819 Calhoun Ave, Chattanooga, TN 37407

Listing Price: $4,000,000

Cap Rate
6.49%
Gross SF
104,448
Price/Gross SF
$38.30
Lot Size
5.70 acres
Year Built
1960
Rentable SF
104,448

Investment Overview

Marcus & Millichap is pleased to present to market the two-star industrial property located at 3709 and 3819 Calhoun Avenue in Chattanooga, Tennessee. This offering presents a great opportunity to acquire a reliable and increasingly sought-after product type in a market with major demand for industrial space. Additionally, a new investor could add value by converting all leases, which are currently modified gross, to NNN leases. 3709 and 3819 Calhoun Avenue consists of two contiguous parcels totaling 5.7 acres and offers 13 suites across a total building area of 104,448 square feet. 11 of the suites are currently occupied by tenants on modified gross leases. One of the property’s nine docks is available and could potentially generate an additional six thousand dollars per year, and a new investor may want to explore leasing the drop yard for additional potential income. The property is well-located one block west of Highway 27 (Rossville Boulevard) where traffic volume exceeds 23,000 cars per day and just over a mile south of Interstate 24, offering easy access to downtown Chattanooga and Interstate 75. Over $1 Billion of road improvement projects are underway on I-75 and I-24 near the property in anticipation of future growth. Chattanooga’s proximity to major markets such as Nashville, Knoxville, Birmingham, and Atlanta and its convenient access to numerous interstate highways and rail have cemented the city as a major manufacturing and distribution base. The city’s advantageous location has attracted an Amazon distribution center, the North American headquarters of Volkswagen, and a new professional soccer team. The team, the Chattanoga Red Wolves, opened its club in 2018 and is nearing the completion of a new 5,500-seat arena that is expected to spur development in the surrounding area.

Investment Highlights

  • Great Industrial Location: Chattanooga is a Transit Hub and Major Manufacturing and Distribution Base With High Demand for Industrial Space; Home to an Amazon Distribution Center
  • 104,448-Square Feet of Industrial Warehouse / Office / Flex Space on Two Parcels Totaling 5.7 Acres
  • 11 of 13 Suites are Occupied With Potential to Lease the Drop Yard for Additional Income
  • Potential to Add Value by Converting All Leases (Currently Modified Gross) to NNN

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

Listing Price: $4,000,000

Cap Rate
6.49%
Gross SF
104,448
Price/Gross SF
$38.30
Lot Size
5.70 acres
Year Built
1960
Rentable SF
104,448

Investment Highlights

  • Great Industrial Location: Chattanooga is a Transit Hub and Major Manufacturing and Distribution Base With High Demand for Industrial Space; Home to an Amazon Distribution Center
  • 104,448-Square Feet of Industrial Warehouse / Office / Flex Space on Two Parcels Totaling 5.7 Acres
  • 11 of 13 Suites are Occupied With Potential to Lease the Drop Yard for Additional Income
  • Potential to Add Value by Converting All Leases (Currently Modified Gross) to NNN

Investment Overview

Marcus & Millichap is pleased to present to market the two-star industrial property located at 3709 and 3819 Calhoun Avenue in Chattanooga, Tennessee. This offering presents a great opportunity to acquire a reliable and increasingly sought-after product type in a market with major demand for industrial space. Additionally, a new investor could add value by converting all leases, which are currently modified gross, to NNN leases. 3709 and 3819 Calhoun Avenue consists of two contiguous parcels totaling 5.7 acres and offers 13 suites across a total building area of 104,448 square feet. 11 of the suites are currently occupied by tenants on modified gross leases. One of the property’s nine docks is available and could potentially generate an additional six thousand dollars per year, and a new investor may want to explore leasing the drop yard for additional potential income. The property is well-located one block west of Highway 27 (Rossville Boulevard) where traffic volume exceeds 23,000 cars per day and just over a mile south of Interstate 24, offering easy access to downtown Chattanooga and Interstate 75. Over $1 Billion of road improvement projects are underway on I-75 and I-24 near the property in anticipation of future growth. Chattanooga’s proximity to major markets such as Nashville, Knoxville, Birmingham, and Atlanta and its convenient access to numerous interstate highways and rail have cemented the city as a major manufacturing and distribution base. The city’s advantageous location has attracted an Amazon distribution center, the North American headquarters of Volkswagen, and a new professional soccer team. The team, the Chattanoga Red Wolves, opened its club in 2018 and is nearing the completion of a new 5,500-seat arena that is expected to spur development in the surrounding area.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

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