Industrial Investment - Fully Leased - For Sale - Chattanooga TN
Industrial
for Sale
| Catylist Listing ID: |
30668604 |
| Property Subtypes: |
Flex Space, Free-Standing, Manufacturing, Light Industrial, Net Leased, Office Showroom, Warehouse/Distribution
|
| Building Size (RSF): |
39,300 SF
|
| Gross Land Area: |
2.47 SF
|
| Sale Price: |
$2,750,000 |
| Unit Price: |
$69.97 PSF |
| Docks/Doors: |
2 Docks, 5 Doors |
| Drive In Bays: |
3 Bays |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
1111 East 39th Street |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
100 |
| Last Updated: |
1/4/2021 |
Overview / Comments
Fully Leased - Multi Tenant Industrial Building for Sale on East 39th Street just off Rossville Blvd. Building is all Masonry Block construction in good condition. Building currently is divided into three (3) units. Excellent Investment opportunity in the Chattanooga area for those that are looking to buy a Investment Industrial property. The current NOI is approx. $211,000 per year (+/-) which equals an approx. 7.6% cap rate based on the asking price.
Call Listing Agent, Russ Elliott to schedule appointments to see or show the property. Tenants are operating Businesses in the Building so all showings are by Appointment ONLY. Square footage and acreage is taken from the Tax Records and is deemed reliable but not guaranteed. Listing Agent has not measured the space / building and does not guarantee the accuracy of the number of square feet or acreage. Square feet and acreage need to be verified by Purchaser.
|
Current Tenants
| Tenant Business Name |
Williams Concrete Cutting Service |
| Website URL |
https://williamsconcretecutting.com/ |
| Is Renting? |
Yes |
| Suite Number |
A |
| SF of Space Occupied |
4,000 SF |
| Current Rent |
$12,000 PSF (Annual) |
| Options |
Current Lease is on a Month to Month basis. |
| Tenant Notes |
Current Lease is on a Month to Month basis. Tenant currently pays $1,000 per month ($12,000 /Yr.) NNN plus prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance. |
| Tenant Business Name |
Deco Print |
| Website URL |
https://www.decoprintllc.com/ |
| Is Renting? |
Yes |
| Suite Number |
B |
| SF of Space Occupied |
15,500 SF |
| Current Rent |
$57,912 PSF (Annual) |
| Options |
Current Lease is on a Month to Month Basis. |
| Tenant Notes |
Current Lease is on a Month to Month basis. Tenant currently pays $4,826 per month ($57,912 /Yr.) NNN plus prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance. |
| Tenant Business Name |
Westrock |
| Website URL |
https://www.westrock.com/ |
| Is Renting? |
Yes |
| Suite Number |
C |
| SF of Space Occupied |
19,800 SF |
| Current Rent |
$141,375 PSF (Annual) |
| Options |
Current Lease Expires on July 31st 2021. Westrock has Two (2) Options to renew for Six (6) Months each. |
| Tenant Notes |
Current Lease expires on July 31st 2021. Westrock has Two (2) Options to renew for Six (6) Months each. Tenant currently pays $11,781.25 per month ($141,375 /Yr.) NNN plus prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance. |
Additional Details
| Nearest MSA: |
Chattanooga |
| County: |
Hamilton |
| Taxing Authority: |
Hamilton County |
| Tax ID/APN: |
033167D F 01300 |
| Zoning: |
M-1 |
| Highway Access: |
Interstate 1-24 |
| Airports: |
Chattanooga |
| Site Description: |
Approx. 2.47 acres with approx. 39,300 SF. Masonry Block Building. |
| Area Description: |
Located at the Intersection of E. 39th Street and Jerome Ave. just a few blocks off Rossville Blvd. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Property Condition: |
Good |
| Year Built: |
1970 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block |
| Parking Type: |
Surface |
| Sprinklers: |
Wet |
| Amps: |
1,200 |
| Volts: |
480 |
| X-Phase: |
3 Phase |
| Heat Type: |
Natural Gas |
| Heat Source: |
Ceiling Units |
| Lighting: |
LED |
| Internet Access: |
Gigabit |
| Zoning Description: |
M-1 Industrial |
| Lot Frontage: |
362' |
| Lot Depth: |
295' |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Fee Simple |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,246 |
61,807 |
133,407 |
| Median Age: |
32 |
35.23 |
37.06 |
| Households: |
3,395 |
23,937 |
54,604 |
|
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