Fully Updated Free Standing Building with Ample Parking

Office for Sale
Catylist Listing ID: 30775047
Property Subtypes: High-Tech, Flex Space, Office Building, Research & Development
Building Size (RSF): 3,004 SF
Gross Land Area: 0.86 Acres
Sale Price: $419,000
Unit Price: $139.48 PSF
Ceiling: 16 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: Andrew Drive Building
Class of Space: Class B
Usable Size (USF): 3,004 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/18/2021

Overview / Comments

This free standing building has been fully updated, including new roof, and is currently leased to a church although the property would be nicely suited for other uses such as office, flex space, recording or production studio. Current lease expires 12/31/2021 and Tenant pays $1,900 per month, increasing to $2,100 per month on January 1, 2022 and going mtm.

Building has two offices, lobby area, newer TPO roof, polished concrete break room with kitchen, and is in exceptional condition. Site has ample, surface parking and located less than a mile from I-75. See attached plat and property shown as Lot 2. Property is priced well below replacement cost.

Seller can provide notice to existing tenant to provide occupancy to Purchaser at closing. Seller has lease/purchase on the property and is not current title holder, however will close on purchase to convey clear title.

SF taken from tax records and Purchaser should verify if is a matter of concern.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: City of Cleveland
Tax ID/APN: 041K G 005.01 000
Zoning: CH
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,004 SF
Year Built: 1979
Year Renovated: 2020
Roof Type: Flat
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Gigabit, Fiber Optic
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,191 39,397 67,432
Median Age: 41.37 36.76 37.24
Households: 2,989 15,553 25,941

Contact

Photograph of Listing Agent

John E Jewell

CBT Commercial Greater Chattanooga REALTORS® Member
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