Staff photo by Tim Barber / The Chattanooga Auction House building on Broad Street is on the market for $3.8 million.

A South Broad building and property is on the market for $3.8 million as the area near downtown Chattanooga attracts more attention.

The Chattanooga Auction House building at 2423 Broad St. and about two acres of related property are for sale, according to broker Jefferson Holley of Crye-Leike Realtors. The auction house occupies all of the 8,500 square feet of the free-standing building at the site.

The tract sits within the South Broad District Plan area, bounded by Interstate-24, the Tennessee River, Howard School and Chattanooga Creek.

Last year, the plan was unveiled after a series of public meetings, and the blueprint is expected to guide future development in the area. The report, done by the Chattanooga Design Studio, foresees an array of new housing along with commercial and retail space, upgraded parks, streets, sidewalks and other infrastructure, including a new minor league ballpark and entertainment facility to serve as a catalyst for development.

Earlier this year, a development group said they're working on a nearly 20-acre tract at Broad and West 33rd streets near Chattanooga Christian School. They're looking at erecting a 300-unit apartment complex on four levels in the rear portion of the property. Also, 76 townhomes are eyed along 33rd Street, while commercial space would go up along Broad, according to plans.

Nearby, a Publix supermarket is slated to go on the site of the former Mt. Vernon restaurant.


* Location: 2423 Broad St.

* Gross land area: 47,045 square feet

* Building size: 8,500 square feet

* Sale price: $3.8 million

* For more information: Jefferson Holley of Crye-Leike Realtors