***Investment Opportunity***

Industrial for Sale
Catylist Listing ID: 30317308
Property Subtypes: Flex Space, Free-Standing, Light Industrial, Net Leased, Warehouse/Distribution
Building Size (RSF): 9,208 SF
Gross Building Area: 11,327 SF
Gross Land Area: 1.50 Acres
Sale Price: $225,000
Unit Price: $24.44 PSF
Docks/Doors: 3 Doors
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: McFarland Place
Usable Size (USF): 9,208 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 66
Last Updated: 4/11/2019

Overview / Comments

McFarland Place consists of over 11,000 square feet divided among 4 office/ warehouse condo units.
Suite's 1-3 are offered For Sale as a package, net leased investment.
Suite 4 has a separate owner.

Suites 1-3 consist of 9,208 square feet, containing both warehouse, and office space. Suite's 1 & 3 are currently leased to long term tenant's, with good rental history.

The space is currently 66% leased. This offers a 7% cap rate. Once the 3 condo's are fully leased, this investment will offer a 12% cap rate!

Additional Details

Nearest MSA: Chattanooga
County: Walker
Taxing Authority: Walker County
Tax ID/APN: 2021 016
Zoning: C-2
Property Located Between: Salem Road & GA 2
Highway Access: Minutes from Hwy 27, with easy access to I75 and I24.
Airports: Chattanooga Metropolitan Airport
Site Description: Site consists of 1.5 acres, 1 building, 1 level, 4 suites consisting of office and warehouse space, ample parking for all, and access to roll up doors.
Area Description: Area is surrounded by industrial, commercial, and residential properties.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1975
Construction/Siding: Brick/Aluminum Siding
Exterior Description: Brick, 1 level, 4 condo units consisting of office and warehouse space.
Parking Type: Surface
Sprinklers: None
X-Phase: 3 phase
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Lighting: Fluorescent
Interior Description: Mix of office and warehouse.
Zoning Description: C-2
Lot Frontage: 268'
Lot Depth: 251'
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owner
Legal Description: Ptll 65 9/4 Landlot: 65 Landdist: 9/4

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,592 45,557 105,581
Median Age: 38.34 38.05 37.77
Households: 1,892 18,399 43,287


Photograph of Listing Agent

Judy Webster

Keller Williams Realty Greater Chattanooga REALTORS® Member
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