6005 Century Oaks Drive - Free Standing Class A Office Building

Office for Sale
Catylist Listing ID: 30776152
Property Subtypes: Business Park, Governmental, Institutional, Office Building
Condo? Yes
Building Size (RSF): 15,295 SF
Gross Land Area: 1.39 Acres
Sale Price: $2,750,000
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: 6005 Century Oaks Drive
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 6/16/2022

Overview / Comments

First Time on the Market - 15,295 SF. Freestanding Class A Office Building located within the Bonny Oaks Industrial Park. The building is currently divided into Four (4) Suites ranging from 2,300 to over 5,300 SF. Five Star Foods will be relocating in the 3 quarter of 2022 so the building would be perfect for an Owner/User that is looking to purchase an office building for its own space needs with income from other Tenants to hep offset the cost of ownership.

Listing information is provided by Owner and public sources 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. All Showings are strictly by appointment only. Contact the Listing Agent to schedule any showings.

The information contained herein was obtained from sources we consider reliable; however, we cannot be responsible for errors, omissions, prior sales, withdrawals from the market, or change in price. No representation or warranty as to the environmental or physical condition of the property and/or equipment is made, and purchaser’s independent investigation and due diligence is strongly recommended.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $25,220 (Annual)

Current Tenants

Tenant Business Name Five Star Foods (Suite 100)
Is Renting? Yes
Suite Number 100
SF of Space Occupied 5,367 SF
Current Rent $14 PSF (Annual)
Lease Expiration 8/0031
Tenant Notes In addition to the Base Annual Rental Rate of $13.50/SF NNN the Tenant also pays as additional rent $1.50/SF ($670.88 per month) for its prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance Expenses.
Tenant Business Name Five Star Foods (Suite 101)
Is Renting? Yes
Suite Number 101
SF of Space Occupied 2,305 SF
Current Rent $14 PSF (Annual)
Lease Expiration 8/0031
Tenant Notes In addition to the Base Annual Rental Rate of $13.50/SF NNN the Tenant also pays as additional rent $2.71/SF ($520.54 per month) for its prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance Expenses.
Tenant Business Name Five Star Foods (Suite 300)
Is Renting? Yes
Suite Number 300
SF of Space Occupied 3,623 SF
Current Rent $8 PSF (Annual)
Lease Expiration 8/0031
Tenant Notes In addition to the Base Annual Rental Rate of $7.50/SF NNN the Tenant also pays as additional rent $1.50/SF ($452.87per month) for its prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance Expenses.
Tenant Business Name His Highness Prince Aga Khan Shia Imami Ismaili
Is Renting? Yes
Suite Number 303
SF of Space Occupied 4,000 SF
Current Rent $14 PSF (Annual)
Lease Expiration 5/0031
Tenant Notes In addition to the Base Annual Rental Rate of $14.35/SF NNN the Tenant also pays as additional rent $1.97/SF ($656.67 per month) for its prorata share of Real Estate Taxes, Building Insurance and Common Area Maintenance Expenses.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033129K B 02711C001
Is Condo?: Yes
Zoning: M-2
Property Visibility: Excellent
Highway Access: Hwy. 153 and I-75
Airports: Chattanooga Airport
Site Description: Approximately 1.39 Acres in the Bonny Oaks Industrial Park
Area Description: Located in the Bonny Oaks Industrial Park on Century Oaks Drive near the FedEx facility. Easy Access to Hwy. 153 off the Bonny Oaks Exit. Close to Volkswagen Assembly Plant.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2000
Parking Ratio: 5.5 (per 1000 SF)
Parking Type: Surface
Parking Description: Approx. 84 Surface Parking Spaces
Total Parking Spaces: 84
Sprinklers: None
Internet Access: Gigabit
Zoning Description: M-2
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Condominium Regime

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,092 33,469 121,275
Median Age: 40.37 40.93 39.49
Households: 3,433 14,949 50,547

Contact

Photograph of Listing Agent

Russell P Elliott

Pointe Commercial Real Estate Greater Chattanooga REALTORS® Member
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