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5231 Wilbanks Dr

Chattanooga, TN
Floors
4
Total Size
3,128 sqft
Parking Ratio
5 (per 1000 SF)
Zoning
C5
Year Constructed
1900
Year Renovated
1962
Building Class

About 5231 Wilbanks Dr

This 3,128 SF retail center has four suites which are currently all leased on a month-to-month basis. Total monthly rental income is $2,450 with annual income at $29,400. The seller preferred to have month to month leases so there is the opportunity to obtain longer leases if wanted. Suite 101 leases for $500/month; suite 105 is $500/month; suite 109 is $800/month and suite 113 is $650/month. This averages about $8.63/SF. The Seller pays for taxes, property insurance, electricity, water and major maintenance. The annual expenses run about $6,000 so the Net Operating Income (NOI) is about $23,000 per year. - Parking description: There is a gravel parking lot in front which allows you to pull directly in front of the retail stores. - Area description: The Hixson submarket is probably the second fastest growing area in terms of population for greater Chattanooga. The area is made up of a mixture of commercial, industrial and residential users. Nearby are the Bi-Lo and Publix grocery stores. - Number of buildings: 1 - Building condition: Good - Tenancy: Multiple Tenants

Internet Providers for 5231 Wilbanks Dr

Provider Technology Max Download Speed Max Upload Speed
EPB Fiber
10 Gb/s
10 Gb/s
Comcast Cable
1 Gb/s
25 Mb/s
AT&T Tennessee DSL
25 Mb/s
3 Mb/s

The City: Chattanooga

On average, listings lease in the $20's per square foot per year. The Chattanooga region is going through a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 20% rise in rent.

Median Rate Median Size
Chattanooga $23
/sqft/yr
3,240
sqft

Median Rate over Time in Chattanooga