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Single-Tenant Net Leased Medical Center 146 Smitherman Rd 5,520 SF Office Building Ringgold, GA 30736 $1,166,000 ($211.23/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased to Summit Spine & Joint Centers with new 5-year NNN lease
- Two procedure rooms and covered patient drop-off canopy
- Located in Ringgold, GA—affluent suburb of Chattanooga with strong medical demand
- Monument signage and brick exterior on ±1.09-acre site
EXECUTIVE SUMMARY
Opportunity to acquire a fully leased single tenant medical office and surgery center. The regional tenant Summit Spine & Joint Center has operating in the building for years and has just executed a new five-year triple net lease. Summit Spine & Joint Center operates 17 ambulatory surgery centers and 44 clinics, making it one of the largest interventional spine care networks in the Southeast.
While the offering provides investors reliable income, acquiring a surgery center well under replacement cost at only $211/SF offers tremendous value. The attractive brick facility features two well built out procedure rooms, an effective medical floor plan and a covered canopy for patient drop-off. The facility is well suited for the tenant and for a multitude of medical uses.
The property is well-located In Ringgold, a popular high-growth and affluent suburb of Chattanooga, Tennessee within a few miles of variety of medical facilities including CHI Memorial Hospital. And get this. The office vacancy in the Catoosa County market is only 1.2%.
A contiguous level 1.31-acre commercial site is also available for $400,000.
While the offering provides investors reliable income, acquiring a surgery center well under replacement cost at only $211/SF offers tremendous value. The attractive brick facility features two well built out procedure rooms, an effective medical floor plan and a covered canopy for patient drop-off. The facility is well suited for the tenant and for a multitude of medical uses.
The property is well-located In Ringgold, a popular high-growth and affluent suburb of Chattanooga, Tennessee within a few miles of variety of medical facilities including CHI Memorial Hospital. And get this. The office vacancy in the Catoosa County market is only 1.2%.
A contiguous level 1.31-acre commercial site is also available for $400,000.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,520 SF
Building Class
B
Year Built
2006
Price
$1,166,000
Price Per SF
$211.23
Cap Rate
7.50%
NOI
$87,450
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,520 SF
Building FAR
0.10
Lot Size
1.31 AC
Zoning
RIN
1 1
PROPERTY TAXES
| Parcel Number | 0037C-050-008 | Improvements Assessment | $0 |
| Land Assessment | $205,430 | Total Assessment | $205,430 |
PROPERTY TAXES
Parcel Number
0037C-050-008
Land Assessment
$205,430
Improvements Assessment
$0
Total Assessment
$205,430
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Single-Tenant Net Leased Medical Center | 146 Smitherman Rd
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