405 E Main St 66,325 SF 100% Leased Industrial Building Chattanooga, TN 37408 $8,650,000 ($130.42/SF)

For sale or for lease, 405 E Main Street in Chattanooga, Hamilton County, Tennessee.
This property consists of a 4.12-acre site with a 91,990-square-foot office/warehouse divided into two suites in the Southside community of Chattanooga, TN.
The Southside area of Chattanooga has been targeted for major redevelopment during recent years by the City of Chattanooga and several of the major philanthropic foundations in the community. Many of the older structures have been retrofitted for higher use, and several new residential condominiums and townhouses have been constructed in the neighborhood. The area is in a period of transition from residential and older residential land uses to a commercial and residential mixed-use area. Property values have risen dramatically during recent years. The transitioning of the neighborhood would be expected to continue until virtually all of the older properties in the area have either been renovated for higher use or razed for new development.
Predominant area developments in this submarket include Montague Park, East Side Elementary School, numerous local retail, fast-food, automotive, and warehouse facilities along E. Main and E. 23rd Streets, with older residential development interspersed. Recent residential condominiums were developed along S. Willow Street in proximity to 405 E. Main Street. Additional development and redevelopment along E Main Street are primarily commercial and industrial in nature, with residential development located on side streets. The City of Chattanooga's number 1 fire hall is less than two blocks away.
In addition, numerous historic commercial buildings along Market Street and Main Street have been redeveloped for a variety of uses, consisting of restaurants, retail, and residential pursuits. There is also a large collection of new single-family homes within the Southside, as well as existing condominium projects between one and ten years old.
A few examples include the former Wertman’s Media building, purchased and razed to allow for the development of 42 townhomes. A new residential and mixed-use facility is planned to be constructed at 1601 Holtzclaw Avenue, which will contain 120 residential units and 30,000 square feet of commercial use. The 36-unit East Line Apartments were recently constructed just west of 405 E Main at the corner of Central Avenue and East Main Street. Additionally, a former industrial building located near 2100 Rossville Avenue was converted into the Burnside mixed-use development and consists of townhomes and commercial enterprises.
The most recent developments in the Southside submarket include the State of Confusion restaurant located a block away at 301 E Main Street, the 100 a South Broad townhome development, and the complete redevelopment of the Chattanooga Choo Choo which includes Stir restaurant, Frothy Monkey restaurant, Back Stage Bar/The Comedy Catch, Oddstory Brewing and multiple multifamily and single family residences predominantly of the townhome design.