The East Main Street area of Chattanooga is seeing arguably the most redevelopment activity in decades and a building at the center of the key artery is for sale.
In fact, the building sits at the intersection of East Main Street and Central Avenue. The one-level structure has 5,363 square feet and about 30 parking spaces, according to real estate broker Jon B. Hughes of Pointe Commercial Real Estate.
With a sale price of $1.5 million, the site is seen as a location for restaurant or retail, according to Hughes, while the current layout is for an office or medical use.
The building is within Chattanooga's Opportunity Zone, a designated area which offers incentives for investors realizing capital gains to defer and limit the taxes normally due on such income.
About the Site
* Location: 822 E. Main St.
* Size: 5,363 square feet
* Sale price: $1.5 million
* Zoning: Commercial-2
* For more information: Jon B. Hughes, Pointe Commercial Real Estate
The East Main Street corridor from Market Street to Missionary Ridge is seeing a variety of new, mixed-use projects.
This summer, for example, the Austin Hatcher Foundation broke ground to anchor the commercial part of a planned $40 million redevelopment of a former manufacturing site off Holtzclaw Avenue.
Also, a Chattanooga developer is proposing a multimillion-dollar mixed-use project on a nearly 9-acre manufacturing site across from the historic National Cemetery.
Plans are to reuse the longtime Lucey Boiler industrial site and turn it into a location for new townhomes, retail-and-event space and possibly a boutique hotel.