517 ML King Blvd, Chattanooga, TN 37403
Commercial property for sale
Contact info
- 423-875-3600 [Office]
Description
Mixed use development opportunity in the renewal community of Martin Luther King. Building sits directly behind UTC housing. Building is ideal for student housing or offices upstairs and retail commercial down below or as a professional space for offices such as a law or accounting firm. There is the beginnings of renovations in each space: four apartments or offices upstairs, two retail spaces, and one potential restaurant space below. There is street parking along the front, by the hour parking lot on the east side, and land in the rear for a parking lot. Seperate entrances for each unit below from the fron and the rear. Entrances to the upstairs unit from both the front and the rear. Student housing is needed with UTC housing at 100% occupancy and a wait list. This area is eligible for Renewal Community Tax Credits and Incentives such as the Commercial Revitalization Deduction. There is an additional .5 acres of land adjacent to this property which is available for development. Building price details: $325,000.
Property Details
- Type: Retail
- Use Types:Free-Standing Building, Mixed Use, Street Retail, Other, General
- Status: Available
- Year Built: 1956
- Year Renovated: 2006
- MSA: Chattanooga
- Zoning: C2
- Buildings: 1
- ConstructionBrick, Concrete
Exterior Features
- Parking: Yes
- Parking Spaces: 12
- Parking Type: Surface
Terms
- Cash to Seller
- Owner Financing