Catylist ID: #30662701
20.93% Cap Rate | Industrial | +Opportunity & Rural Zone
Industrial for Sale
|Catylist Listing ID:||30662701|
|Property Subtypes:||Flex Space, Free-Standing, Manufacturing, Mixed Use, Light Industrial, Research & Development, Self Storage, Truck Terminal, Warehouse/Distribution|
|Building Size (RSF):||25,000 SF|
|Gross Land Area:||0.93 Acres|
|Unit Price:||$30 PSF|
|Ceiling:||20 ft. / 17 ft. Clear|
|Docks/Doors:||6 Docks, 6 Doors|
|Office SF:||2,000 SF|
|Drive In Bays:||2 Bays|
|In Opportunity Zone?||Yes|
|Property Use Type:||Net Leased Investment (NNN), Vacant/Owner-User|
|Building Name:||UniFirst (Tenant)|
|Usable Size (USF):||25,000 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
Rare Opportunity to Earn a 20.93% Cap Rate!
Here's a unique opportunity in the heart of Rossville. This 25,000sf property sits behind Brody Jewelers on McFarland and W Lake Ave just off Chickamauga and Rossville Ave.
The property is currently occupied by a tenant - UniFirst. Current base rent is $12,500 per month. The rent increases to $13,500 per month in June. The lease is NNN (Triple Net) with the landlord paying for NO repairs or improvements. (See Lease Abstract).
UniFirst's lease runs thru 2021. UniFirst is constructing a new facility and plans to move by 2022. They employ 14,000 people in 260 facilities around the country.
Next Step...Redevelopment. Rossville is ripe for redevelopment! Great incentives are available.
The property is located within both the Federal Opportunity Zone & the Rural Opportunity Zone. Nearly an acre located just 1 block off of Rossville, Georgia's main downtown street area make this your client's next smart investment.
The City is trying to revamp, refresh and redevelop downtown Rossville and this parcel is key! At nearly an acre, it is easy to see that this industrial building and site could be redeveloped into retail, parks, government buildings, offices or other cool spaces.
Attachments & Media
|Taxing Authority:||Walker County|
|Tax ID/APN:||2003 043|
|Zoning:||C1 – GENERAL COMMERCIAL|
|Property Located Between:||McFarland Ave & Brody Lane|
|Highway Access:||Easy access to I-24 and Battlefield Parkway via Rossville & McFarland Ave. Property is just off of Rossville Avenue in Rossville, GA behind Brody Jewelers.|
|Airports:||Chattanooga Metropolitan Airport|
|Site Description:||The site is level and at street grade.|
|Area Description:||Rossville, GA downtown is a mix of governmental, office, retail and industrial properties. Food City is nearby.|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Typical SF / Floor:||25,000 SF|
|Exterior Description:||Block industrial building|
|Parking Description:||Parking is available on multiple sides of the building.|
|Heat Type:||Electricity, Natural Gas|
|Interior Description:||industrial laundry cleaning|
|Zoning Description:||RVC1 - Rossville General Commercial|
|Proximity:||1 mile||3 miles||5 miles|
Robert FisherKW Commercial Greater Chattanooga REALTORS® Member
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