Mixed use development opportunity in the renewal community of Martin Luther King. Midquality condos upstairs fully occupied. Retail commercial condo located down below which can also be utilized as a professional space for offices such as a law or accounting firms. There are four suites in total below. 3 of the 4 suites are already occupied with Kankus, Wafflz, and Hair Salon. The space is a warm vanilla box ready for tenant specific build out. There is street parking along the front and an adjacent parking lot. The property is priced below market with successful restaurants around such as Champys, Sweet Alibis, Hutton Brewery. Douglas Heights a 250 unit apartment complex is currently under construction one block from the space. UTC housing is located along the rear of the property.

Location Description:

The MLK corridor is a mixed use urban neighborhood. Located in the renewal community of Martin Luther King with the university sitting behind the building. The area offers businesses grants for development. Much forward movement is being seen in the area with Douglas Heights Apartments under construction for its first phase of 690 beds with plans of an additional 600 in following phases. The Central Business District is less than .5 miles. More than 130 homes or condos have been built or renovated in the area. The Regional Planning Agency has outlined a path to revitalize the boulevard in a 116 page plan adopted in Feb 2009 by the Chattanooga City Council. A RFP has been published for the 400 block of MLK. Chattanooga is the 4th largest city in Tennessee after Nashville, Memphis and Knoxville.

Highlights:

>> Excellent Visibility

>> Priced Below Market

>> Business Grants Available

>> Space Like New

>> .5 Miles From CBD

>> UTC Housing and Campus Located Behind

>> 690 Bed Apartment Complex one block down

>> 22 Commercial Parking Spaces

Space Available:

There is 1 space available. The minimum space available is 3,135 SF and the maximum contiguous is 3,135 SF.

301 MLK Blvd

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>> 3,135

>> $10.50/SF/year (Modified Gross Lease)

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