On the Block: Foundation Plaza sits at high-profile Chattanooga intersection

One the largest freestanding office and retail buildings in the Hamilton Place area is seeking a new owner.

Foundation Plaza at 6925 Shallowford Road has 78,054 square feet of space at the traffic artery's high-profile intersection with Lee Highway. The building, which has a sale price of $3.9 million, is also close to Interstate 75.

The 2019 daily traffic count on Shallowford Road was 24,188 vehicles, according to Cliff Butler of Re/Max Real Estate Center. Additionally, the three-level, brick-and-concrete structure has 200 parking spaces.

Currently the building has two restaurants, a grocery store, doctors' offices, a CPA firm, a Pizza Hut, a business office, hair and nail salons and several other ventures, Butler said.

The building sets on 3.24 acres with the parking lot wrapping around the entire structure, including a lot directly behind a Sonic restaurant. It also sports several entry and exit points to Shallowford Road and Lee Highway.

The building was designed by a local developer in 1985, according to Butler.