8116 Standifer Gap Rd Chattanooga, TN 37421-1222
- Specialty properties
- 2,000 SF
- 0.62 lot acres
Current Use by Public Records
- Wolftever Pet Wellness Group | East Hamilton / Veterinarian
Property Details for 8116 Standifer Gap Rd
- Year built
- 1975
- Lot size
- 0.62 lot acres
- Property size
- 2,000 SF
- Zone code
- RR
- Property type
- Specialty properties
- APN
- 149 027.01
- APU
- 14902701
Description
This exceptional investment opportunity presents a 2,000 square foot, net-leased medical office building located at 8116 Standifer Gap Rd, Chattanooga, TN 37421. The property, built in 1981 and extensively renovated in 2020, is currently 100% occupied by Alliance Animal Health, a credit-rated tenant with over 200 partner practices and 3,000 team members nationwide. The 15-year lease, commencing May 24, 2022, features a remaining term of 12.3 years with two, five-year renewal options. Annual rent bumps of 3% provide a hedge against inflation and consistent cash flow growth. The $757,714 asking price represents a 7.00% cap rate and a price per square foot of $378.86, based on a current NOI of $53,040. The 2020 renovation included a new HVAC system, TPO roof, exterior and interior improvements, and a new 200 square foot grooming room. This strategically located property benefits from high visibility on Standifer Gap Rd, with easy access to Interstate 75, and proximity to major retail centers like Hamilton Place Mall, as well as CHI Memorial Hospital and other significant amenities. The property serves a strong demographic area with over 94,000 residents within a 5-mile radius, boasting an average household income exceeding $93,000. The veterinary services market's robust growth makes this a recession-resistant investment with significant long-term potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $735,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $815,000
- 6.5%
- $760,000
- 7%
- $770,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $650,000
- Geo Method
- $870,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $810,000
- Retail
- $820,000
- Mixed-Use
- $795,000
- Hospitality
- $835,000
- Educational
- $780,000
- Residential Income
- $680,000
- Energy
- $690,000
- Income-Based Land
- $695,000
- Food Service
- $835,000
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.1143
- Latitude
- 35.042
- CBSA code
- 16860
- CBSA name
- CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA
