Marcus & Millichap Sells South Terrace Plaza Retail Center In Chattanooga For $5.3M
5076 South Terrace & 5084 South Terrace
$5,300,000
$56/SF
Building Size
46,700 SF
Asset Type
Retail
Closing
Jun 6, 2024
About this deal
AI
The South Terrace Plaza, a retail center located at 5076-5084 South Terrace in Chattanooga, was sold for $5,300,000. The property spans 46,700 square feet and was shadow-anchored by AMC Theatres. With a 94 percent occupancy rate and long-tenured tenants, the plaza attracted competitive bids due to its prime location and growth potential.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,300,000
- Address: 5076-5084 South Terrace, Chattanooga, TN
- Market: Chattanooga, TN
- Square Footage: 46,700
- Price Per Square Foot: $113
The sale of the South Terrace Plaza was facilitated by brokers Eric Abbott, Jody McKibben, and Zachary Taylor from Marcus & Millichap. Their expertise and negotiation skills were instrumental in securing a successful transaction for the retail center in Chattanooga. The competitive bids and high occupancy rate reflect the desirability of the property in the market.
On the Map
$5,300,000
$56/SF
Retail
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Chattanooga Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93