248 Northgate Mall Dr | Chattanooga, TN 37415
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248 Northgate Mall Dr
Chattanooga, TN 37415
Northgate Marketplace · Retail Property For Sale
Investment Highlights
- Priced below replacement cost
- Growing sunbelt market
- Potential Outparcels
- Tremendous foot traffic
- Seasoned tenancy
Executive Summary
CBRE is pleased to offer for sale Northgate Marketplace, a prominent 101,661 square foot community center occupied by tenants with long operating histories at the property and located within one of Chattanooga’s dominant retail trade areas. Northgate Marketplace is a compelling investment opportunity offered at a price which is a fraction of its replacement cost, and boasts incredible foot traffic which is a testament to the strength of each tenant’s business. Given the low price per square foot and seasoned tenancy, Northgate Marketplace provides a low risk, growing cash flow stream with potential upside as tenant’s leases mature.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Retail
Building Size
101,661 SF
Building Class
B
Year Built/Renovated
1986/2010
Price
$8,500,000
Price Per SF
$84
Cap Rate
9.04%
NOI
$768,005
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
9.80 AC
Parking
511 Spaces (5.03 Spaces per 1,000 SF Leased)
Frontage
539 FT on Northgate Mall Dr
Amenities
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 110H-E-004.17 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,924,960 |
PROPERTY TAXES
Parcel Number
110H-E-004.17
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,924,960
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