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- LoopNet Team
647 Morganton Square Dr
Maryville, TN 37801
Price Reduced! NNN Lease Medical Office in Co · Office Property For Sale
Investment Highlights
- Medical Office Condo - NNN Leased to Blount Memorial Hospital/Prisma Health
- 1st Floor - Lobby/Waiting Area w/Reception Desk & Visitor's Waiting Area - 8 Exam Rooms - Nurses' Station and Kitchen Area
- Office w/Private Restroom
- 2 Stores: 2,100 SF on 1st Floor - approximately 900 SF on 2nd Floor
- 2nd Floor - Open Area & Mechanical Room
- Only Landlord responsibility is insurance in the amount of $1,263/Year
Executive Summary
Medical office condominium NNN leased to Blount Memorial Hospital/Prisma Health. Tenant pays taxes, insurance, condo fee, utilities, maintenance, etc. Tenant has recently exercised the first of two three-year options to renew. The first option year begins on August 1, 2024, at $57,856.71/Year. The second option period will begin on August 1, 2027, at $63,221.59/Year, a 9%+ increase. If the tenant exercises the second option, the 6-year cap rate is 8%. There are two floors: approximately 2,200 SF on the first floor and approximately 900 SF on the second floor. The first floor has a large waiting area with a visitor's waiting room, reception desk, employee restroom, an office with a private restroom, kitchen area, 8 exam rooms and a nurses/filing area. Interior photos are from before the current tenant occupied the premises. SHOWINGS BY APPOINTMENT ONLY. PLEASE DO NOT DISTURB THE TENANT! PLEASE CALL THE LISTING AGENT TO ARRANGE AN APPOINTMENT AFTER HOURS.
Property Facts
| Property Type | Office | No. Stories | 2 |
| Property Subtype | Medical | Year Built | 1994 |
| Building Class | B | Tenancy | Single |
| Lot Size | 0.07 AC | APN / Parcel ID | 057E-A-008.01-C-004 |
| Rentable Building Area | 3,100 SF | ||
| Zoning | CC | ||
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Lot Size | 0.07 AC |
| Rentable Building Area | 3,100 SF |
| No. Stories | 2 |
| Year Built | 1994 |
| Tenancy | Single |
| APN / Parcel ID | 057E-A-008.01-C-004 |
| Zoning | CC |
