Flatiron Building 707 Georgia Ave

Investment Highlights

Newly renovated! 8 commercial suites! Office, retail, and restaurant spaces!

Executive Summary

Flatiron Heights? commercial spaces available for sale! Flatiron Heights is a newly renovated historic building located in Downtown Chattanooga at the intersection of Georgia Ave and Walnut St.The upper portion of the building has been turned into 15 contemporary condominiums and the lower floors have commercial space. In total, there are 8 commercial suites. The suites range in size from 178 to 2,236 sq. ft. and have a variety of floor plans. The suites include office space, retail space, and a restaurant-type space. This sale would not include the residential condominiums, which are being sold separately.Several suites have street frontage and access on Georgia Ave and Walnut St and a few have access via the Flatiron Heights lobby. Commercial tenants have parking available on the top floor of the parking deck for a monthly fee. At this point some suites could be combined into bigger suites or possible the reverse is true also.The two levels of parking are included too. They contain 15 parking spaces with storage cabinets and the upper parking deck which has 25 spaces. The condo owners will pay for their spaces and storage cabinets on a per space basis as they own their condo. The upper level commercial parking deck can generate revenue from the commercial tenants, too.The revenue from the two parking decks justify an evaluation of about $1,000,000 for the two levels of parking.Also, we will sell these commercial suites separately as office condos. See below on how these spaces can be broken out. The breakout below also corresponds with the floor plan pictures.Suites A & B: 2,311 SF $772,100 each (two levels)Suite C: 1,299 SF $425,150 (two levels)Suite D: 933 SF $326,550Suite E: 178 SF $62,300 (UNDER CONTRACT)Suite F-01: 578 SF $202,300Suite F-02: 680 SF $238,000Suite G: 2236 SF $670,800Suite H: 406 SF 142,100HOA reserve fee due at closing at $2 per SF.

• Sale Type    Investment or Owner User
• Sale Condition    Redevelopment Project
• Property Type    Retail
• Property Subtype    Retail Retail General Retail Storefront Retail/Office Retail
• Building Size    2,784
• Building Class    C
• Year Built    1990
• Price    249,900
• Price Per SF    90
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.21
• Land Acres    0.31 AC