862 Callen Lane Prof Center | NNN Leases | 862 Callen Ln NW
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862 Callen Lane Prof Center | NNN Leases 862 Callen Ln NW
9,700 SF 100% Leased Office Building Cleveland, TN 37312 £3,704,226 (£382/SF) 6.25% Net Initial Yield
Investment Highlights
- New construction med-tail asset with long-term NNN leases and annual rent increases
- Strategically located .20 miles from I-75 Interchange just off Paul Huff Parkway, the primary commercial thoroughfare serving Cleveland
- Fixed annual rent increases provides hedge against inflation
- Rent is secured by three experienced and successful medical groups that have made large investments and long-term leases
- Tenants reimburse for Taxes, CAM, Insurance and Management fees
- Brand new building with transferable roof warranty provides ease of ownership and stable cash-flow
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this fully occupied medical office building with long-term NNN leases. The property is strategically located just off Paul Huff Parkway, Cleveland's primary commercial thoroughfare with close proximity to I-75, Publix and The Home Depot.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
9,700 SF
Building Class
B
Year Built
2023
Price
£3,704,226
Price Per SF
£382
Net Initial Yield
6.25%
NOI
£231,530
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
9,700 SF
Building FAR
0.14
Lot Size
1.56 AC
Zoning
PUD - planned unit development
Parking
59 Spaces (6.08 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 034I-F-015.00 | Improvements Assessment | £407,629 |
| Land Assessment | £107,281 | Total Assessment | £514,910 |
PROPERTY TAXES
Parcel Number
034I-F-015.00
Land Assessment
£107,281
Improvements Assessment
£407,629
Total Assessment
£514,910
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862 Callen Lane Prof Center | NNN Leases | 862 Callen Ln NW
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