Somer Station-Multifamily & Office-NNN Leases 110 Somerville Ave 22 Unit Apartment Building $12,250,000 ($556,818/Unit) 6.78% Cap Rate Chattanooga, TN 37405

SVN | Second Story is pleased to present the opportunity to acquire 110 Somerville Avenue, a premier mixed-use asset in Chattanooga’s vibrant Northshore neighborhood. This newly built property offers high-quality office, and multifamily space supported by a diverse tenant mix and long-term lease structures, delivering exceptional investment stability in one of the Southeast’s fastest-growing markets.
Somer Station’s office component is 84% occupied by two long-term NNN tenants, with a 5,000 SF suite available. The Lofts at Somer Station include 22 fully furnished apartments that are 100% occupied. More than $200,000 of furniture and furnishings are included in the sale, providing a turnkey multifamily operation with significant tangible value.
The asset benefits from riverfront adjacency, on-site parking, and walkable access to the national retailers, local boutiques, restaurants, and galleries that define the Northshore lifestyle. Nearby amenities include Publix, Whole Foods, Chipotle, Orangetheory Fitness, Starbucks, Coolidge Park, and the Walnut Street Bridge.
Potential 2027 Tax Abatement: Ownership is currently in the process of filing for a 2027 property tax abatement, which could provide additional operating expense savings to the future owner, subject to approval.