NNN SunTrust Bank

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30271555
Property Subtypes: Institutional, Net Leased
Status: Pending/Contingent
Building Size (RSF): 240 SF
Gross Building Area: See Agent
Gross Land Area: 0.34 Acres
Sale Price: $514,944
Unit Price: $2,145 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: SunTrust Drive-Thru
Sale Terms: Cash to Seller
Cap Rate: 5.8%
Average Occupancy Rate: 100
Last Updated: 1/16/2019

Overview / Comments

SunTrust is a nationally recognized bank with a BBB+ S&P credit rating. They have been leasing this location for over 25 years. As of January 2018 they have 5 years left with one 5 year option.

This is the drive-thru portion of the property and not the main building. The main building currently owned by a separate entity and is not active on the market.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 154C A 011.02
Zoning: C-2
Property Located Between: Browns Ferry Rd and Kellys Ferry Rd
Property Visibility: Excellent
Highway Access: I-24
Airports: Chattanooga Metro Airport
Site Description: The site has parking in addition to the drive-thru structure.
Area Description: The Lookout Valley area of Chattanooga, TN is growing. Due to its location close to downtown the continued growth is clear. There are multiple builders currently planning to develop more residential neighborhoods.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 240 SF
Year Built: 1979
Construction/Siding: Wood Siding
Parking Type: Surface
Parking Description: This property is a drive-thru and has 7 parking spaces for employees and customers..
Total Parking Spaces: 7
Internet Access: Gigabit
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Pt Lt 1 Blk 1 Tiftonia Section No 2 Pb13 Pg14

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,335 13,493 65,969
Median Age: 46.2 40.67 35.68
Households: 569 6,249 26,758


Photograph of Listing Agent

Michael Taylor

Premier Property Group Inc. Greater Chattanooga REALTORS® Member
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