Multi-Tenant Industrial Investment Building in Chattanooga, TN

Industrial for Sale
Catylist Listing ID: 30780663
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Warehouse/Distribution
Building Size (RSF): 211,150 SF
Gross Land Area: 8.67 Acres
Sale Price: $17,000,000
Unit Price: $80.51 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: 331 & 351 Labeling Way
Sale Terms: Cash to Seller
Cap Rate: 4.67%
Average Occupancy Rate: 100
Last Updated: 6/16/2022

Overview / Comments

Free-standing multi-tenant, Industrial investment opportunity located at 331 & 351 Labeling Way in Chattanooga, Tennessee. The property consists of 8.67 improved acres with approximately 211,150 square-foot industrial space. Constructed in 1995, the property is leased to M & M Industries, Inc. (95,000 SF), Dorsett Industries (100,000 SF) and one available space (16,150 SF.). The property is surrounded by various industrial users on the West side of Chattanooga.

The property is located on the west side of the Chattanooga MSA, 331 & 351 Labeling Way sits less than a mile from I-24 Cummings Hwy. exit which has traffic counts of over 58,695 cars per day and is minutes from downtown Chattanooga. The property offers excellent visibility and convenient access. This property sits in a busy hub of one of Tennessee's fastest growing cities that is already home to over 160,000 people.

Listing information is provided by Owner and public sources and 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. All Showings are strictly by appointment only. Contact the Listing Agent to schedule any showings.

The information contained herein was obtained from sources we consider reliable; however, we cannot be responsible for errors, omissions, prior sales, withdrawals from the market, or change in price. No representation or warranty as to the environmental or physical condition of the property and/or equipment, or to the Income and Expense financial information and purchaser’s independent investigation and due diligence is strongly recommended.

Current Tenants

Tenant Business Name M & M Industries Inc.
Website URL www.ultimatepail.com
Is Renting? Yes
Suite Number 331
SF of Space Occupied 95,000 SF
Current Rent $356,250 PSF (Annual)
Lease Expiration 3/2021
Escalations Year # 2 = $403,750 NNN ($4.25/SF NNN). Year #3 = $475,000 NNN ($5.00/SF NNN). Year #4 = $522,500 NNN ($5.50/SF NNN). Year # 5 = $570,000 NNN ($6.00/SF NNN).
Tenant Business Name Dorsett Industries Inc.
Website URL www.dorsettind.com
Is Renting? Yes
Suite Number 351
SF of Space Occupied 100,000 SF
Current Rent $300,000 PSF (Annual)
Lease Expiration 3/0031
Escalations Rent increases from $275,000 per year (NNN) to $300,000 (NNN) per year as of April 1st 2022
Options None remaining.
Tenant Notes Tenant has renew for another 3 year term at an Annual Rent of $300,000 (NNN) effective as of April 1st 2022.
Tenant Business Name Available for Lease
Is Renting? Yes
Suite Number 359
SF of Space Occupied 16,150 SF
Current Rent $137,275 PSF (Annual)
Lease Expiration 8/2021
Escalations TBD

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 154-009.31 & 154-009.40
Zoning: M-2
Property Located Between: Cummings Rd. & Cummings Hwy.
Highway Access: I-24
Airports: Chattanooga Airport
Area Description: Located just off I-24 minutes from downtown Chattanooga and Dade County GA
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1995
Roof Type: Gable
Construction/Siding: Block, Metal Siding
Exterior Description: Concrete Block and Metal Siding
Parking Type: Surface
Parking Description: Surface Parking for approx. 75 vehicles
Total Parking Spaces: 75
Column Spacing: 25'x50'
Sprinklers: Wet
Amps: 2,000
Volts: 480
X-Phase: 3-Phase
Heat Type: Natural Gas
Heat Source: Ceiling Units
Lighting: LED, Fluorescent
Internet Access: Gigabit
Zoning Description: M-2
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,285 7,935 42,105
Median Age: 39.75 43.38 37.3
Households: 591 3,421 17,696

Contact

Photograph of Listing Agent

Russell P Elliott

Pointe Commercial Real Estate Greater Chattanooga REALTORS® Member
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