New Tenant in Place - Office/Warehouse in Industrial Park

Industrial for Sale
Catylist Listing ID: 30700242
Property Subtypes: Flex Space, Industrial-Business Park, Manufacturing, Light Industrial
Building Size (RSF): 42,291 SF
Gross Building Area: See Agent
Gross Land Area: 2.51 Acres
Sale Price: $2,875,000
Unit Price: $67.98 PSF
Ceiling: 24 ft. Clear
Docks/Doors: 1 Dock, 2 Doors
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/16/2021

Overview / Comments

The property includes a total of 42,185 SF +/- with office, showroom and warehouse set on 2.51 acres in Bonny Oaks Industrial and Office Park. This block and steel frame building has wide column spacing with 20’ clear height at the eaves and 24’ clear height at the center, allowing for many uses.

Bonny Oaks Industrial and Office Park sits at the intersection of Bonny Oaks Drive and Jersey Pike, with easy access to Hwy 153, and is in close proximity to Volkswagen.

Two tenants are in place and occupy approximately 28,400 SF. The owner is currently occupying the remaining 13,785 SF +/-, which includes a large showroom, offices and restrooms totaling 4,185 SF +/- with 9,600 SF +/- warehouse space, served by an on-grade loading door.

This is an excellent opportunity for an owner/user to occupy that portion of the building and receive income while also having the potential to expand into the remaining space over time. Or a buyer could seek a new tenant for the space that the seller will vacate at closing.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: City of Chattanooga; Hamilton County
Tax ID/APN: 129K B 034
Zoning: M-2
Property Located Between: Resource Drive and Century Oaks Drive
Highway Access: TN Hwy 153 - 0.9 mi, 2 min. Interstate 75 - 4.0 mi, 6 min. Interstate 24 - 6.7 mi, 9 min.
Airports: 3.8 miles to Chattanooga Metropolitan Airport
Site Description: Level. Concrete paving. Simple landscaping with some large mature trees.
Area Description: The Bonny Oaks Industrial & Office Park is located at Bonny Oaks Drive and Jersey Pike off of Highway 153. The Park is primarily a distribution/light industrial park with a campus-like setting. Tenants specialize in warehousing, customer services, and light manufacturing.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1989
Year Renovated: 1995
Roof Type: Gable
Construction/Siding: Block, Steel Frame
Parking Type: Surface
Total Parking Spaces: 35
Eave Height: 20
X-Phase: 3
Heat Type: Electricity, Suspended Radiant Heaters
Air Conditioning: Package Unit
Zoning Description: M-2
Lot Frontage: 315
Lot Depth: 360
Legal Description: Lt 21 Bonny Oaks Industrial And Office Park Phase One 40-116

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,294 36,934 128,515
Median Age: 39.41 40.86 39.41
Households: 2,229 16,362 53,869

Contact

Photograph of Listing Agent

John Sweet

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Jason A Lehn

Herman Walldorf Commercial Greater Chattanooga REALTORS® Member
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