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Industrial Facility with Income Potential

1409 East 51st Street, Chattanooga, TN 37407

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For Sale

$910,000

Industrial facility with two suites, leased until August 2030.

Type:IND, IND-FLEX, IND-MFG

Property size:

4,800 SF

Price / SF:

$189/SF

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.

We can help!

Contact an agent

Robert Fisher

For Sale

$910,000

Industrial facility with two suites, leased until August 2030.

Type:IND, IND-FLEX, IND-MFG

Property size:

4,800 SF

Price / SF:

$189/SF

Added:: Aug 14, 2024
Days on Market:: 693
Last Refresh:: Jun 29 at 8:30 pm

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

We can help!

Contact an agent

Robert Fisher

Listing office

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 Robert Fisher

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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

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 Uses

Best Use

Office B

$786.9K

$688.5K – $918.0K (±1% cap)

NOI $55,080 @ 7.0% cap · market cap 6.05%

Second Best

Flex RnD

$646.6K

$565.8K – $754.4K (±1% cap)

NOI $45,265 @ 7.0% cap · market cap 4.97%

Theoretical Best

Office A

$1.06M

$927.6K – $1.24M (±1% cap)

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

Suggested Use

Location Insight

Map
Local Demand

City: Chattanooga
County: Hamilton
State: Tennessee
Longitude: -85.2940972
Latitude: 34.9852473

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For sale
Flex space
TN
Chattanooga
37407
1409 East 51st Street

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.