Updated Executive Suites Office Building- Cleveland

Office for Sale
Catylist Listing ID: 30766362
Property Subtypes: Executive Suites
Building Size (RSF): 80,000 SF
Sale Price: $5,850,000
Unit Price: $73.13 PSF
Property Use Type: Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 3.6%
Last Updated: 10/11/2021

Overview / Comments

The Bradley Place Executive Plaza is a small business hub for businesses in Cleveland, TN. Businesses looking to have
a location in Tennessee and remote workers that work for companies out of State, but don’t have a place at home have
made The Bradley Place Executive Plaza home for their business. This 80,000 sqft building hosts over 50 business
tenants.
The current owner has beautified the property to attract more tenants and provide a pleasant work environment for them.
A new electronic message center allows tenants to promote their business and increase the income to the property.
The Bradley Place Executive Plaza is professionally managed by a local property management company that has
increased the use of the building and the income potential through changes to the property such as the message center
and renting individual offices for remote workers and solo-preneurs.

Attachments & Media

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $29,603 (Annual)
Potential Rental Income $40,000 (Annual)
Gross Operating Income $408,000 (Annual)
Net Operating Income $234,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: Cleveland City and Bradley County
Tax ID/APN: 042 015.08 000
Property Located Between: At the corner of Stuart Rd and Old Tasso Rd
Property Visibility: Excellent
Highway Access: Take I-75 to exit 27. Turn right and take Paul Huff to Stuart Rd.
Site Description: The Bradley Place Executive Plaza is located across the street from the YMCA. 26,000 cars drive by this location on a daily basis. The current owner has updated the parking lot, added an advertising sign, painted the building, and updated the lobby, office suites as they were vacated, and hallways. The addition of the advertising sign and ATM have monetized the parking lot that previously added no value to the property.
Area Description: Located at the corner of Stuart Rd and Old Tasso (26,000+ ADT), this building is conveniently located to Harry's convenience stores, YMCA, Bradley County Recreational Park, Hobby Lobby, and Food Lion Supermarket. The population exceeds 44.600 residents with an average household income $55,000. Cleveland is just 30-miles North of Chattanooga, Tennessee, with U.S. Highway 75 acting as the primary thoroughfare.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 35,000 SF
Year Built: 1985
Year Renovated: 2021
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: The office part of the building is stucco build, while the warehouse is metal build. Tenants have access to a bay door, freight elevator, and truck unloading ramp.
Parking Type: Surface
Parking Description: Parking lot was recently sealed and restriped with parking on Old Tasso and Stuart sides of the building. There's an upper parking lot that is currently rented to a few tractor trailers.
Freight Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Office space and warehouse space
Zoning Description: IL
Lot Frontage: 161172 sq ft Total
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: DIST:04 CITY/MUNI/TWP:CLEVELAND DISTRICT: 4

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,715 36,318 65,116
Median Age: 36.89 35.71 37.05
Households: 724 13,879 24,984

Contact

Photograph of Listing Agent

Laura Coleman

Bridge Property Management Gro Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Rikel Barrott

Bridge Property Management Gro Greater Chattanooga REALTORS® Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.