Home > Commercial > Tennessee > Chattanooga > 37421 > 6309 E Brainerd Rd

6309 E Brainerd Rd, Chattanooga, TN 37421

Commercial property for sale

  • Description
  • This 30,505 SF retail center is priced to sell quickly. The pro forma Cap Rate is 9.43% which is very close to current performance. Current occupancy is 91.6%. There are 23 leasable suites with one income producing billboard on the property. Twenty-one spaces are currently leased. Eleven tenants have been tenants for more than 5 years and 9 tenants have been there for at least 10 years. Six new leases have been written since January 2012. The Seller has owned the property since 2003. The location on E. Brainerd Road is excellent with about 16,000 cars per day. The E. Brainerd sub-market is the hottest retail market in the Chattanooga MSA. It includes the Hamilton Place Mall which is the largest mall in Tennessee. This location enjoys being close to the Hamilton Place Mall but has rental rates that are 1/3 the rate of those centers very close to the mall. This location attracts those tenants who need high traffic, great visibility but can't afford $24/SF rents. This is a mid-level retail center.This property can make an excellent investment for the small or large investor. The pro forma has 6% for a property manager. At 92% occupied the efforts to maintain the current rent roll is not large and the need to find new tenants is very manageable with only two current vacancies. The opportunity to raise rent more aggressively than the 2% projected in the pro forma is there. The ten or so tenants who have been tenants for more than five are mostly on month to month leases. So, there is opportunity to renew these leases at higher rates than projected. SEE 20 PAGE BROCHURE IN ATTACHMENTS! Building price details: $1,425,000.
  • Property Details
  • Building Name: Brainerd Hills Center
    Property Type: Retail
    Use Types: Strip Center
    Status: Available
    Price: $ 47 +/SF
    Number of Stories: 2
    Year Built: 1963
    Year Renovated: 1976
    MSA: Chattanooga
    Zoning: C2
    Buildings: 1
    Tenancy: Multiple Tenants
    Terms: Cash to Seller
    Added: 01/24/2013
    Last Update: 04/01/2013
  • Exterior Features
  • Parking: Yes
    Parking Spaces: 114
    Parking Type: Structure, Surface
  • Contact info
  • Robert Fisher: 423-664-1550 [Office]
    KW Commercial

  • Note

  • Details Info about this row that located on 6309 E Brainerd Rd, Chattanooga, TN 37421 was got from trusty sources, but All Foreclosures Homes can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

    If you see any error or mismatches on this page – click here.