Hamilton Office Park - Bldg. B

Office for Sale
Catylist Listing ID: 1864628
Property Subtypes: Medical, Mixed Use, Office Building
Building Size (RSF): 4,273 SF
Gross Building Area: 15,828 SF
Gross Land Area: 1.67 Acres
Sale Price: $180 PSF
Total Price: $769,140
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Hamilton Office Park - Bldg. B
Class of Space: Class A
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 6/26/2017

Overview / Comments

Subject property features 4,273 sq. ft. Of which 1920 sq ft is built out Class A office/medical and bringing in income. Remaining 2353 sq ft is currently being built out for a national mortgage company with a new five year lease. Suite is 1 of 5 individual units that make up Bldg. B (15,838 sq. ft.) in Hamilton Office Park.

Prime location near Hamilton Place Mall on Ogletree Ave. just off Shallowford Road - where traffic counts average 13,000 cars per day. Property is easily accessible with close proximity to major roadways and less than 1 mile to access I-75. Central location offers convenience to major neighborhoods of Chattanooga.

Hamilton Office Park is occupied by professional office tenants, which is considered to be the highest and best use of space. C-2 zoning permits almost all stores, shops & services. Surrounding area comprised of mixed-use tenants - retail, services, healthcare, and financial/insurance industries. Area has been under continuous growth for the past 20 years. Suite 203 is currently built out for previous tenant as insurance agency. Build to suit option available to accommodate future tenant's needs. Owner willing to demise space down to 2,500 sq. ft. if necessary.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 149H F 001
Zoning: C-2
Market Type: Medium
Property Located Between: Ogletree Avenue and Shallowford Road
Side of Street: East
Road Type: Paved, 2-Track
Property Visibility: Good
Transportation: Bus, Shuttle, Highway, Airport, Taxi
Highway Access: 0.7 mile to access I-75 at Shallowford Road; 2.9 miles to access HWY 153 at Shallowford Road
Airports: Chattanooga Metropolitan Airport - 4.7 miles
Site Description: Improved subject property with single-story professional office condominium that is part of a 15,838 sq. ft. building consisting of 4 separate units. Desirable location based on its convenience to surrounding areas. The neighborhood boundary is generally comprised of the area of Bonny Oaks Drive, HWY 153, East Brainerd Road, Banks Road and Standifer Gap Road. Location is easily accessible and has less than 1 mile to interstate access. Site is serviced by major roadways and is located at a congested area of Shallowford Road during high traffic hours.
Area Description: Area is comprised of mixed-use businesses - primarily retail, services, health care and financial/insurance agencies. Surrounding area has been under a constant growth phase for the past 15 - 20 years. Close proximity to Hamilton Place Mall, TN's largest shopping destination, and major roadways, such as Shallowford Road, bring congestion to the area during high traffic hours. Currently, the subject's location on Shallowford Road is under construction to improve the flow of traffic.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2007
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Consists of masonry frame with brick exterior; roof is a mix of flat & gable featuring rubber and shingle; adequate parking provided with large striped and paved parking lot to accommodate professional office employees and patients/clients/visitors; street lights, curbing and landscaping
Parking Type: Surface
Parking Description: Property features a cross easement for free unlimited parking access for purchaser, its staff, its patients, invitees and visitors to the parking spaces adjacent to the office building
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: 4 individual office condominiums in 15,383 sq. ft. building with 9 ft. ceilings/T-bar panels; fluorescent lighting;
Zoning Description: C-2 zoning permits uses for almost all stores, shops and services. The subject property does not provide high visibility from a major roadway that is common for successful retail locations nearby. As a result, the highest and best use of property is for service type uses.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,534 50,036 99,076
Median Age: 40.74 40.02 39.72
Households: 4,411 21,117 40,280

Contact

Photograph of Listing Agent

Pryor E Bacon

Pryor Bacon Company GCAR CMLS Member

Source

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