5751 Cornelison Rd
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5751 Cornelison Rd
17,137 SF 100% Leased Office Building Chattanooga, TN 37411 £1,282,400 (£75/SF) 8.35% Net Initial Yield
Investment Highlights
- Low basis play @ $93 PSF
- 100% occupied with below market rents
- Excellent visibility to over 115k VPD on I-75
Executive Summary
-Owner/User opportunity
-Minutes from new mixed use and CHI Memorial Stadium
-4.4% office vacancy in Chattanooga
-Recent sale comparables next door of +$127 PSF
-Single story office - in demand product type with lower operating cost compared to multistory product
-Mark to market opportunity - average market rents of $22.25 with in-place rents of $12.17
-Minutes from new mixed use and CHI Memorial Stadium
-4.4% office vacancy in Chattanooga
-Recent sale comparables next door of +$127 PSF
-Single story office - in demand product type with lower operating cost compared to multistory product
-Mark to market opportunity - average market rents of $22.25 with in-place rents of $12.17
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
17,137 SF
Building Class
C
Year Built
1978
Price
£1,282,400
Price Per SF
£75
Net Initial Yield
8.35%
NOI
£107,019
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
17,137 SF
Building FAR
0.17
Lot Size
2.36 AC
Zoning
C2 - Commercial
Parking
95 Spaces (5.54 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
Parcel Number | 157M-A-009.01 | Improvements Assessment | £0 |
Land Assessment | £0 | Total Assessment | £422,326 |
PROPERTY TAXES
Parcel Number
157M-A-009.01
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£422,326
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5751 Cornelison Rd
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