3740 Powers Court - HWY 153 at Bonny Oaks Industrial/Flex For Sale

Industrial for Sale
Catylist Listing ID: 28708307
Property Subtypes: Flex Space, Free-Standing, Light Industrial, Office Showroom, Warehouse/Distribution
Building Size (RSF): 36,250 SF
Gross Building Area: See Agent
Gross Land Area: 2.59 Acres
Sale Price: $2,550,000
Unit Price: $70.34 PSF
Docks/Doors: 4 Docks, 4 Doors
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Owner Financing, Other
Cap Rate: 8.5%
Last Updated: 12/4/2017

Overview / Comments

Subject property features a 36,875 sq. ft. industrial - flex space building on a 2.59 acre lot at the geographical center of Chattanooga. With less than 1/2 mile access to Highway 153 at Bonny Oaks Drive, this location provides easy accessibility for not only customers but tenants who need access to all areas of town for distribution.

Property is visible from high traffic state route - Highway 153 - where traffic counts average +/- 62,000 cars per day. Surrounding area occupied primarily by industrial use, with the Bonny Oaks Industrial Park less than 0.5 mile away. Enterprise South, which is home to the new Amazon.com distribution facility and 1,900,000 sq. ft. Volkswagen assembly plant.

Built in 2004, the bldg. consists of 4 units that are in good condition. There is adequate parking available with a large lot in front of building and additional on side. 3740 Powers Court is currently at an 8.5% CAP Rate and 100% occupancy with 4 credit tenants with long-term leases (Motion Industries & Fastenal, see attachments). Excellent investment opportunity based on its accessibility, location and lease history.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 129P B  001.07
Zoning: M-1
Market Type: Medium
Property Located Between: Highway 153 and Bonny Oaks Drive
Road Type: Highway
Transportation: Bus, Shuttle, Highway, Airport, Taxi
Highway Access: 0.5 mile access to HWY 153 via Bonny Oaks Drive
Airports: Chattanooga Metropolitan Airport - 4.0 miles
Site Description: Located in geographical center of city; all areas of town are accessible; 0.5 mile access to HWY 153 at Bonny Oaks Drive; high visibility from HWY 153; high traffic counts from HWY 153 of 62,000 cars/day; 2.59 acre lot; 36,875 sq. ft. industrial - flex building; parking available in front of bldg. and on side
Area Description: Established, commercial area with access to all areas of Chattanooga; 0.5 mile to the Bonny Oaks Industrial Park - surrounding area is occupied primarily by industrial use - less than 3 miles to Enterprise South (VW Assembly Plant and Amazon.com); downtown Chattanooga is less than 15 minutes away
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2004
Roof Type: Flat
Construction/Siding: Concrete, Metal Siding
Exterior Description: One story concrete block and metal building constructed on concrete slab in 2004; building contains 36,875 sq. ft. and is divided into 4 separate office suites. Each suite has a roll up bay door.
Parking Type: Surface
Parking Description: Adequate parking available with striped and paved lot in front of building and additional on side
Heat Source: Central
Lighting: Fluorescent, Incandescent
Zoning Description: M-1 (Manufacturing District) Zoned for manufacturing commercial improvements
Lot Frontage: 528
Lot Depth: 268
Land Ownership: Owned
Legal Description: Lot 7 Airpark Business Center at Bonny Oaks

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,565 38,248 131,345
Median Age: 37.7 39.84 39.02
Households: 1,964 16,966 55,447

Contact

Photograph of Listing Agent

Pryor E Bacon

Pryor Bacon Company GCAR CMLS Member
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