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Parachute Plasma 1208 Congress Pky 6,532 SF 100% Leased Office Building Athens, TN 37303 $5,204,366 ($796.75/SF) 7.50% Cap Rate
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Growing Credit The lease is subject to a corporate guarantee by Join Parachute
- Attractive Rental Increases The lease will feature 2.00% rental increases starting in year 6
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Parachute Plasma located at 1208 Congress Parkway, Athens, TN 37303. The site consists of roughly 6,532 rentable square feet of building space on an estimated 1.47-acre parcel of land. This Parachute Plasma is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $390,327 and has scheduled increases of 2.00% Annually Starting Year 6.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
6,532 SF
Building Class
B
Year Built
2024
Price
$5,204,366
Price Per SF
$796.75
Cap Rate
7.50%
NOI
$390,327
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
6,532 SF
Building FAR
0.10
Lot Size
1.47 AC
Zoning
B2
Parking
23 Spaces (3.52 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 056-088.00 | Improvements Assessment | $390,720 |
| Land Assessment | $136,600 | Total Assessment | $527,320 |
Property Taxes
Parcel Number
056-088.00
Land Assessment
$136,600
Improvements Assessment
$390,720
Total Assessment
$527,320
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Parachute Plasma | 1208 Congress Pky
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