Built in 1993, property includes a 48,900 sq. ft. former grocery store that has been redeveloped for use as a climate controlled self-storage facility with additional retail space. Cannon Self Storage and Portabello's Italian Restaurant are current tenants in the bldg. There is a 12,000 sq. ft. retail space available for lease at $15.00/sf/yr (NNN) with build to suit available. Property under new ownership and ready for redevelopment.
There is a large, striped & paved parking lot available to accommodate tenants and their customers. An interior parcel is located in front of lot that is currently owned and operated by Tennessee Valley Credit Union. This is a well established commercial area of Highway 58 occupied by commercial-retail like fast food chains, convenience stores, grocery stores, drug stores and strip centers to meet daily needs of nearby residents. Future development of the area is highly likely due to the recent addition of Volkswagen Assembly Plant and Amazon.com (less than 3 miles away).
Property is situated on a 5.05 acre site that has high visibility with 381 ft. of frontage along Highway 58, which is a major corridor for area residents to access Highway 153. Site also includes a new LED sign for potential advertising opportunities. Traffic counts in excess of 28,000 cars per day. Property features ingress/egress with a location on the "going home" side of Highway 58, traffic signalized access at entrance and right-turn access. With 1.7 mile access to Highway 153, this property is easily accessible from all areas of town. - Parking description: Large paved and striped parking lot in front of bldg.; fenced storage for vehicles/RV storage behind Cannon; vacant adjacent parcel allows for future expansion - Zoned R-1, so only permits additional parking lot - Area description: Subject is located along the established corridor of Highway 58 in eastern Chattanooga. Surrounding area is primarily occupied by commercial and retail use. Nearby businesses consist of a collection of non-anchored strip centers, fast food restaurants, drug stores, oil change facilities, cash-checking establishments, liquor stores, auto parts stores, self-storage facilities and professional general office complexes. There is a nearby industrial park off Jersey Pike and Bonny Oaks.
The Highway 58 area has been under recent development with the addition of the Volkswagen Assembly Plant and Amazon.com at Enterprise South Park. As a result, future plans for the area include constructing a parkway to link I-75 and Highway 58 in order to decrease traffic congestion. - Building condition: Good - Tenancy: Multiple Tenants
|10 Gb/s: EPB|
|25 Mb/s: Comcast|
|3 Mb/s: AT&T Tennessee|
Bonny Oaks - Highway 58
Median rate is a number derived from the median rate of listings posted on 42floors and reports from thought leaders in the area.