Industrial Facility with Income
1409 East 51st Street, Chattanooga, TN 37407
Industrial facility with two suites, leased until August 2030.
Type:IND, IND-FLEX, IND-MFG
Property size:
4,800 SFPrice / SF:
$189/SF- Added:
- Aug 14, 2024
- Days on Market:
- 648
- Last Refresh:
- Apr 3 at 4:55 am
Property Features for 1409 East 51st Street
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- IND, IND-FLEX, IND-MFG
Building Details
- Year Built
- 2023
Listing agent Robert Fisher License #285342, Tennessee (423) 667-8634
Listing office The Robert Fisher Team (423) 667-8634
Listing date Aug 14, 2024
Source Realnex
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of The Robert Fisher Team
HighLights
- Both suites leased to a single tenant until August 31st, 2030, for immediate income.
- Easy access to I‑24 and downtown Chattanooga.
- Each suite offers 2400 SF with 20’ ceilings and 16’ x 16’ dock doors.
- Suites include air‑conditioned office space and a kitchen with new appliances.
- Each suite has 3‑phase 200‑amp power.
- Newly built in 2023.
Overview
This industrial facility offers convenient access to I-24 and downtown Chattanooga. The property features two suites, each providing 2400 square feet of floorspace and 20-foot ceilings. Each suite includes a warehouse with fully insulated 16-foot by 16-foot dock doors, air-conditioned office spaces, and durable 6-inch thick reinforced concrete floors. Designed to accommodate various uses, each suite is equipped with 3-phase 200-amp power. Suite 103 includes two offices, one bathroom, a kitchen with new appliances, a janitor's closet, and a warehouse space with a large commercial-grade gas heater. Suite 105 features one office, one bathroom, a kitchen with new appliances, a janitor's closet, and a warehouse space with a large commercial-grade gas heater. The suites are individually metered for water, gas, and power. Ten parking spots are available for shared use between both suites. Both suites are currently leased to a single tenant until August 31st, 2030, with a monthly rent of $6,100 plus utilities. The base rent increases by 3% annually.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$612.0K
NOI $55,080 @ 9.00% cap · cautious / downside scenario
Moderate
$786.9K
NOI $55,080 @ 7.00% cap · market / base-case scenario
Aggressive
$1.10M
NOI $55,080 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.4k | $18.00 |
| − Vacancy | −$13.0k | −$2.70 |
| EGI | $73.4k | $15.30 |
| − OpEx | −$18.4k | −$3.82 |
| NOI | $55.1k | $11.48 |
4,800 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$786.9K
$688.5K – $918.0K
NOI $55,080 @ 7.0% cap · market cap 6.05%
Second Best
Flex RnD
$646.6K
$565.8K – $754.4K
NOI $45,265 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,207 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.2940972
- Latitude
- 34.9852473
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Industrial facility with two suites, leased until August 2030.
Where is this flex space located?
The property is located at 1409 East 51st Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Both suites leased to a single tenant until August 31st, 2030, for immediate income.; Easy access to I‑24 and downtown Chattanooga.; Each suite offers 2400 SF with 20’ ceilings and 16’ x 16’ dock doors.
