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
Sale Price: $750,000
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
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/9/2021

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.

Additional Details

Nearest MSA: Chattanooga
County: Walker
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.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 25,000 SF
Property Condition: Fair
Year Built: 1975
Roof Type: Flat
Construction/Siding: Steel Frame
Exterior Description: Block industrial building
Parking Type: Surface
Parking Description: Parking is available on multiple sides of the building.
Overhead Cranes: Undisclosed
Heat Type: Electricity, Natural Gas
Lighting: Fluorescent
Interior Description: industrial laundry cleaning
Zoning Description: RVC1 - Rossville General Commercial
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,482 61,628 126,404
Median Age: 34.51 36.76 37.42
Households: 2,079 25,194 51,381

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Riley Kurtts

KW Commercial Greater Chattanooga REALTORS® Member
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