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2228 S Cedar Ave 50,000 SF 100% Leased Retail Building South Pittsburg, TN 37380 $6,800,000 ($136/SF) 7.25% Cap Rate
EXECUTIVE SUMMARY
Property Information
±94,031 SF with lay down yard
9.96 Acres
$6,800,000
7.25% CAP Rate
NNN Lease with 5 years remaining and two 5-year renewal options
I-1 Zoning
Situated in an industrial corridor adjacent to US-72 and one mile from I-24, providing direct routes to Chattanooga and Huntsville
Loading: 4 dock-high bays, 2 grade level bays
24’ clear height
HVAC: 55,000 SF has full heat and AC
464 Parking Spaces
±94,031 SF with lay down yard
9.96 Acres
$6,800,000
7.25% CAP Rate
NNN Lease with 5 years remaining and two 5-year renewal options
I-1 Zoning
Situated in an industrial corridor adjacent to US-72 and one mile from I-24, providing direct routes to Chattanooga and Huntsville
Loading: 4 dock-high bays, 2 grade level bays
24’ clear height
HVAC: 55,000 SF has full heat and AC
464 Parking Spaces
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
50,000 SF
Building Class
B
Year Built
1982
Price
$6,800,000
Price Per SF
$136
Cap Rate
7.25%
NOI
$493,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.23
Lot Size
4.98 AC
Opportunity Zone
Yes
Zoning
I-1
Parking
450 Spaces (9 Spaces per 1,000 SF Leased)
Frontage
576’ on Cedar Ave
PROPERTY TAXES
| Parcel Number | 156-036.03 | Improvements Assessment | $199,800 |
| Land Assessment | $99,600 | Total Assessment | $299,400 |
PROPERTY TAXES
Parcel Number
156-036.03
Land Assessment
$99,600
Improvements Assessment
$199,800
Total Assessment
$299,400
CONTACTS
-
Oliver Smith -
Matthew Castle -
Brock Warwick -
Crosse Smith -
Oliver Smith Realty & Development Company
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2228 S Cedar Ave
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