Medical Office Opportunity in
1420 Fritz SE Street Cleveland, TN 37323
1420 Fritz SE Street, Cleveland, TN, 37323
$1,295,000
For Sale
$1,295,000
Medical office building with multiple exam rooms for sale.
Property Size4,785 SF
Lot Size0.37 Acres
Price / SF$270.64
Days on Market655
Property Features for 1420 Fritz SE Street
General Information
- Standard status
- Active
- Size
- 4,785 SF
- Lot size
- 0.37 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2004
Listing Agency
Bender Realty
(423) 618-0900
Listed by
Brian Workman · License #271193
(423) 618-0900
Source
Exitrealty
Added: Oct 3, 2024 Checked: Jul 19 at 3:41 am
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 Bender Realty
Investment Insights
Based on property information with market context.
This property presents a medical opportunity in Cleveland, Tennessee. The building features up to 12 exam rooms, a lab, a break room, an X-ray room, a large nurses station, and a records area. The waiting area is generously sized, and there are five bathrooms. Additional provider office space is located upstairs. The property has a size of 4785 square feet. An additional lot could be available.
Key Highlights
- Up to 12 exam rooms, plus lab, break room, X‑ray room, large nurses station, and records area.
- Opportunity to own versus rent.
- Large waiting area and five bathrooms.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.4k | $21.60 |
| − Vacancy | −$10.3k | −$2.16 |
| EGI | $93.0k | $19.44 |
| − OpEx | −$37.2k | −$7.78 |
| NOI | $55.8k | $11.66 |
4,785 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$797.3K
$697.7K – $930.2K
NOI $55,812 @ 7.0% cap · market cap 4.31%
Second Best
Office B
$756.7K
$662.1K – $882.8K
NOI $52,970 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$1.00M
$878.5K – $1.17M
NOI $70,282 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dana Sweitzer, AGACNP-BC
Physician
Ocoee Regional Health ...
Employment Agency
Ocoee Regional Health ...
Physician
Harrison Sims, MD
Pediatrician
Dr. Aleksander I. ...
Physician
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FAQs
What type of property is this?
Medical Office Space - Medical office building with multiple exam rooms for sale.
Where is this medical office space located?
The property is located at 1420 Fritz SE Street Cleveland, TN.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Up to 12 exam rooms, plus lab, break room, X‑ray room, large nurses station, and records area.; Opportunity to own versus rent.; Large waiting area and five bathrooms.
