Catylist Listing ID: 30036266
Property Subtypes: Executive Suites, Other
Condo? Yes
Building Size (RSF): 1,224 SF
Gross Building Area: 14,000 SF
Gross Land Area: 0.79 Acres
Sale Price: $325,000
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Summit Suites
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 2/13/2018

Overview / Comments

Class A professional office suite is offered for sale as a NNN investment. The Summit Office Suites are located in the middle of the highest retail area on the north side of Chattanooga with a traffic count of 48,779. Tenants enjoy signage on the building as well as monumental signage. Summit Suites is located close to the Target shopping center.

Private Ridge Wealth Management leases suite 204, a 1,224 square feet office space, which is a financial wealth management office. The lease is thru 2021 and contains two 5-year options with step-up rent in each. There are personal guarantees in place. Private Ridge was established in 2012.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County, TN
Tax ID/APN: 099E C 035.01C204
Is Condo?: Yes
Zoning: R 4
Property Located Between: Winding Lane and Sutton
Property Visibility: Excellent
Highway Access: Hwy 153
Airports: Chattanooga Metropolitan Airport
Site Description: 2 Story Professional office building
Area Description: Main commercial corridor in Hixson, close to Target Super Center Home Depot, Walgreens, Best Buy, restaurants, doctor offices, etc.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2007
Parking Type: Surface
Parking Description: Surface
Heat Type: Electricity
Zoning Description: R4
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Unit 204 Summit Suites Out Of 099E- C-035.01 For 2016

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,844 38,682 89,540
Median Age: 40.86 41.54 40.46
Households: 2,541 16,896 38,194


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