Price Drop! Rare Ooltewah/Collegedale Area Investment Opportunity

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30731253
Property Subtypes: Business Park, High-Tech, Medical, Mixed Use, Net Leased, Office Building, Other
Status: Pending/Contingent
Building Size (RSF): 3,260 SF
Gross Building Area: 3,306 SF
Sale Price: $595,000
Unit Price: $182.52 PSF
Property Use Type: Investment
Building Name: David Smith Business Complex
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 9/12/2021

Overview / Comments

Price drop 8/25! Rare investment opportunity in Ooltewah/Collegedale area! Fully occupied with long term leases in place (1 tenant is in year 5 of a 10 year lease, the other tenant is willing to sign 5-7 year lease). This well maintained, all brick, single-level, building, sits within a four building office complex with shared common area expenses. A brand new roof was install 2020. HVAC's both 3-5 years old. Inside, the spaces are upgraded with newer finishes. The building includes plenty of parking for both employees and customers, fresh landscaping and a shared monument sign.
Leases are Single Net leases with tenants paying all utilities and all CAM expenses. Operating Expense attached.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033140D A 01303
Property Located Between: Apison Pike & Lee Highway
Property Visibility: Excellent
Highway Access: 3 miles from Interstate 75
Total Number of Buildings: 1
Number of Stories: 1
Construction/Siding: Brick
Exterior Description: All brick building.
Parking Type: Surface
Parking Description: Unassigned communal parking has been adequate for tenants and clients.
Sprinklers: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,012 25,082 63,035
Median Age: 36.38 38.22 39.84
Households: 824 8,740 23,056


Photograph of Listing Agent

Jeffrey Billington

Keller Williams Realty Greater Chattanooga REALTORS® Member
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