15-37 Parkway Dr
Fort Oglethorpe, GA 30742
2015 Const. | NNN BW3, Aspen, Matress Firm · Retail Property For Sale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in Parkway Plaza Shopping Center, a 12,200 S.F. center boasting high-profile tenants, Buffalo Wild Wings, Aspen Dental and Mattress Firm. The property is located in the highly desirable bedroom community of Fort Oglethorpe, Georgia, a suburb of Chattanooga, Tennessee. Parkway Plaza is positioned in a tri-state corridor being located in Georgia, but just 5-miles to the Tennessee border and 35 miles to the Alabama line drawing shoppers from every direction. The property is being offered for $6,395,000, representing a 6.00% CAP Rate. The new center was built in 2015 and all tenants executed new, 10-year NNN leases with mid-term rental increases. Due to the significant rental increases in year-6 of all of the leases, the increased NOI would generate a 6.60% CAP Rate based on today' s sales price. This makes the center a very stable asset to an investor with the popular tenants' having 8+ years of original term remaining. Fort Oglethorpe is located only 5 minutes from Chattanooga, Tennessee, and is part of the Chattanooga, TN GA Metropolitan Statistical Area. The suburb of Chattanooga is located approximately 90 minutes north of Atlanta, Georgia. The City of Fort Oglethorpe is positioned in a tri-state corridor being located in Georgia, a suburb of Chattanooga, Tennessee and only 35 miles to Alabama. Fort Oglethorpe is a fascinating city with a history rich in local and national color. The city is home to the 6th Cavalry and the WAC' s. Generations of Americans serving their country entered or left their service through the gates of the city. Fort Oglethorpe also serves as the entrance to the Chickamauga National Military Park, the oldest and largest of America' s Civil War Parks. Fort Oglethorpe, Chattanooga, and the Tennessee River Valley, are wonderful places to live, to visit, and remember.