Shallowford Commons Office For Sale | 8% Cap | 4 Strong Tenants

Office for Sale
Catylist Listing ID: 30624996
Property Subtypes: Business Park, Executive Suites, Governmental, Institutional, Medical, Net Leased, Office Building, Research & Development
Building Size (RSF): 11,400 SF
Gross Land Area: 1.34 Acres
Sale Price: $1,800,000
Unit Price: $157.89 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Shallowford Commons, 6160 Shallowford Rd.
Class of Space: Class A
Usable Size (USF): 11,400 SF
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 8/7/2020

Overview / Comments

Location, Return, 4 Quality Tenants, 2-3 Years Left on the NNN Leases

This property can be an easy investment for many investors. Leases are set for the nearby future for 2-3 years. Tenants are paying rents and not negotiating decreased rents or delayed rents because of COVID.

Shallowford Commons is one the highest quality office parks within Chattanooga and has high occupancy by owner/users. It is well established and is on everyone's go to list when someone is looking for professional office space on the east side of the city.

All NNN leases.

Suite 101: Kelly Services - 2000 SF, $10.80/sf, current term ends 11/30/23
Suite 102: Destiny Transportation - 1,680 SF, $12.05/sf, current term ends 2/28/2023
Suite 103: Bradford Health Services - 5,100 SF, $12.50/sf, current term ends 12/31/2023
Suite 105: Goodall Homes - 2,660 SF, $12.50/sf, current term ends 12/10/2023

Monthly Total: $11,737.22
Annual Income $140,846.64

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County / Chattanooga City
Tax ID/APN: 033138O B 00209
Zoning: C2
Property Located Between: Shallowford Rd
Property Visibility: Excellent
Highway Access: Shallowford Commons is one of the highest grade condominium office parks in town. It was developed by Ken Defoor. Total property includes more than 25 buildings and some 250,000 SF of office. Many of the buildings are owner occupied.
Airports: Chattanooga Metropoliatan
Site Description: The site is level and at street grade. The site is located near the intersection of Shallowford Rd and Hwy 153. Site is located near the airport, VW plant, Hamilton Place Mall. It is located on the east side of the city which is the fastest growing area of Chattanooga and Hamilton County.
Area Description: The area is a mixture of office, retail, airport, industrial and single family homes.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,850 SF
Year Built: 2003
Construction/Siding: Brick
Exterior Description: Brick with columns
Parking Ratio: 6.4 (per 1000 SF)
Parking Type: Structure, Surface
Parking Description: There is large parking lot in front of the building with two rows of parking and parking behind the building with one row and parking on the north end of the building. Parking is plentiful with 77 spaces. More than you will ever need.
Total Parking Spaces: 77
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: There are 4 suites with different layouts and levels of finish.
Zoning Description: C2-Commercial
Lot Frontage: 280
Lot Depth: 155
Water Service: Municipal, None
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress, Utilities
Land Ownership: Owned
Legal Description: Shallowford Commons is part of a condominium regime.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,487 45,456 131,679
Median Age: 41.45 39.95 39.56
Households: 2,134 20,175 55,431

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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