Multi-Tenant Industrial For Sale

Industrial for Sale
Catylist Listing ID: 30669082
Property Subtypes: Flex Space, Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Warehouse/Distribution, Other
Building Size (RSF): 104,448 SF
Gross Building Area: See Agent
Gross Land Area: 5.70 Acres
Sale Price: $4,000,000
Unit Price: $38.30 PSF
Property Use Type: Investment
Building Name: Chattanooga Industrial Park
Sale Terms: Cash to Seller
Last Updated: 2/16/2021

Overview / Comments

Great investment opportunity in a multi-tenant industrial property, in a market with major demand for industrial space.

Convenient location, close to downtown and I-24.

There are 12 units and a fenced-in drop yard. Most units are about 10,000 SF each with offices, a loading dock and/or a drive-in door; some have 3-phase power. All units are fully sprinklered.

The total property, zoned M-1, is comprised of approximately 104,448 SF and 5.7 acres. An additional 1.33 acres may be purchased separately.

Several roofs, HVAC systems, and warehouse heaters have been replaced in the past 12 months; offices and warehouses have also been updated.

The property was fully occupied until two tenants moved out in October 2020.

Leases have 3 to 5-year terms with personal guarantees. They include annual increases and due to the strong market, the seller has been able to further increase rents for new tenants. This allows the new investor to add value by increasing rents as leases expire, as well as converting the leases from Industrial Gross to NNN.

Contact agent for rent roll and financials.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County / City of Chattanooga
Tax ID/APN: 168A Q 001 & 002
Zoning: M-1
Property Located Between: Between 37th & 39th Streets off of Rossville Blvd
Tenancy: Multiple Tenants
Property Condition: Good
Zoning Description: Manufacturing, intended for a wide range of intensive manufacturing uses, or just warehouse and storage

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,661 64,977 135,283
Median Age: 31.15 35.45 37.03
Households: 3,927 25,463 55,341

Contact

Photograph of Listing Agent

Joe C del Valle

KW Commercial Greater Chattanooga REALTORS® Member
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