Fully Leased Multi-Tenant Building

Office for Sale
Catylist Listing ID: 30154195
Property Subtypes: Flex Space, Office Building, Other
Building Size (RSF): 6,100 SF
Gross Building Area: See Agent
Gross Land Area: 0.56 Acres
Sale Price: $390,000
Unit Price: $63.93 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/16/2019

Overview / Comments

Flexible property that offers great opportunities as either an investment with stable cash flow or for a future owner to occupy all or part of the building and lease the remaining vacant space. Building has a total of 6,100 sq. ft. of office/warehouse divided into 5 separate units, all of which are fully occupied by mostly long-term tenants. Current annual gross rent is $41,700, with landlord being responsible for utilities. Two tenants have two year leases with 2 two-year options, one tenant has a 1 year lease with a one year option, and two tenants are month to month. Built in 1986, the flex building has been well-maintained and offers a mix of 3,000 sq. ft. office and 3,000 sq. ft. warehouse space. The warehouse consists of two 1,500 sq. ft. spaces occupied by two tenants who each have their own access and each have an on-grade door, one of the spaces also has a loading dock. The warehouse space makes up the back portion of the building and features 12 ft. clear ceiling height and gas heaters. There is an abundance of paved and striped parking available for all occupying tenants and their employees and customers (30 total spaces).

The building is situated on a level 0.56 acre lot at the corner of Hamill Road and Crescent Club Drive in Hixson, a major sub-market of Chattanooga. Property has excellent visibility with over 165 ft. of frontage along highly traveled Hamill Road and also has great access with curb cuts on both streets. Site is two blocks east of Memorial North Park Hospital and just minutes to North Gate Mall. With less than 0.5 mile to Highway 153, the property offers proximity to Hixson's main commercial corridor while being tucked away in a more peaceful environment away from the heavy traffic congestion. This ideal location is convenient to Amnicola Highway, downtown, the airport, Enterprise South and altogether provides a perfect place to serve the Hamilton County area. Great demographics with a local nearby suburban area to support businesses and employment of the property's tenants. There are numerous options for potential uses of this property including being converted to retail and/or warehouse (medical supply company to serve Memorial), a distribution center or even a doctor's office.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 110G A 013.01
Zoning: C-2
Property Located Between: Hamill Road and Highway 153
Property Visibility: Excellent
Highway Access: 0.4 mile access to Hwy 153 which leads to US-27, I-24 and I-75; 0.5 mile access to Dupont Parkway; 10 miles to access I-75
Airports: Chattanooga Metropolitan Airport (CHA) - 8.1 miles
Total Number of Buildings: 1
Total Parking Spaces: 30
Lot Frontage: 165.7 Feet
Lot Depth: 150 Feet
Legal Description: Lt 1 Roses Div-Hamill Tract 39-14 R Ev 41-54

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,196 39,625 100,302
Median Age: 40 42.19 40.36
Households: 1,911 17,302 43,193


Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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