Hamilton Park

Retail-Commercial for Sale
Catylist Listing ID: 30112943
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 12,000 SF
Gross Land Area: 1.53 SF
Sale Price: $1,795,000
Unit Price: $149.58 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Hamilton Park
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Last Updated: 11/14/2017

Overview / Comments

Ten (10) unit Office/Retail Building currently has Five (5) Tenants and is 100% occupied. Building backs up to I-75 with direct visibility/frontage on I-75. Excellent location at the Bonny Oaks Exit near Volkswagen and Amazon. Next door to Porsche-Land Rover-Infinity Car Dealership. The current NOI is approx. $155,000 to $160,000 per year. All leases are on a NNN basis with the exception of one lease that is on a Modified Gross Basis. With the exception of the one (1) Modified Gross Lease all tenants pay their prorata share of the Operating Expenses in addition to their base Rent. Operating Expenses include approx. $12,000 per year in management fees which could be retained by the new owner if they self preform the property management function. Property includes a Fairway Digital Billboard with a long term lease that brings in over $10,000 per year of income (included in the NOI). Detailed Rent Roll and Financials are available upon execution of Confidentially Agreement.

Call Listing Agent (Russ Elliott) to schedule appointments to see or show the property and to obtain Rent Roll / Financial History. Square footage is deemed reliable but not guaranteed. Listing Agent has not measured the space / building and does not guarantee the accuracy of the number of square feet or acreage. Square feet and acreage need to be verified by Purchaser.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 139F-B-003.05
Zoning: C-2
Property Visibility: Excellent
Highway Access: Lee Hwy and I-75
Airports: Chattanooga Airport
Site Description: Site is Level with Concrete Parking surface.
Area Description: I-75 and Bonny Oaks Exit. Building is located on Hamilton Park Drive just off Lee Hwy.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1997
Construction/Siding: Block
Exterior Description: Concrete Block with Glass Storefront construction
Total Parking Spaces: 60
Parking Ratio: 5 (per 1000 SF)
Parking Type: Surface
Parking Description: Approx. 60 Parking Spaces
Zoning Description: C-2
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,841 43,929 99,365
Median Age: 43.31 40.61 39.64
Households: 2,539 17,768 40,085

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