An anchor property on East M.L. King Boulevard is on the market offering mixed use for a potential new buyer.
The 328 E. M.L. King structure provides apartment living as well retail space in the two-level site. The 3,500-square-foot building has an asking price of $1.19 million.
The 1920 building features four apartments, including two one-bedroom and two studio-style units, according to commercial real estate broker Nate Card of Exit Realty.
The property holds a large rear parking lot with capacity for 12 vehicles, enhanced by recently updated blacktop paving, the broker said. Also, there is off-street parking adding to the convenience.
The M.L. King corridor is seeing new development both residential and retail.
Chattanooga Neighborhood Enterprise is building a 24-unit apartment complex aimed at creating affordable housing for renters at 621 E. M.L. King Blvd. The construction cost for that project near the University of Tennessee at Chattanooga was earlier estimated about $2 million.
A couple of years ago a new $2 million, three-level building opened nearby holding 12,000 square feet of space at 401 E. M.L. King.
Douglas Heights, a $41 million, seven-story student housing complex on Douglas Street just off M.L. King opened in 2016.
ABOUT THE SITE
* Location: 328 E. M.L. King Blvd.
* Asking price: $1.19 million
* Size: 3,500 square feet
* For more information: Nate Card of Exit Realty