Medical Office Building For
For Sale
$1,295,000
1420 Fritz Street SE, Cleveland, TN 37323
Medical office building featuring multiple exam rooms and provider space.
Property Size4,785 SF
Price / SF$270.64
Days on Market206
Property Features for 1420 Fritz Street SE
General Information
Standard status
Active
Size
4,785 SF
Building Details
Year Built
2004
Listing Agency:
Bender Realty LLC
Listed By:
Brian Workman · License #271193
(423) 472-2173
Source:
Shearonsellsteam
Added: Mar 26
Changed: Oct 1
Last Checked: Oct 7 at 2:10PM
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 LLC
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Investment Insights
Based on property information with market context.
This commercial property in Cleveland, TN, presents a medical opportunity. 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. It also includes a large waiting area and five bathrooms. Additional provider office space is located upstairs. The property has a total 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.
- Ideal for medical practice: Designed specifically for medical use.
- Additional provider office space upstairs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,812
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,240
$1.1M
Cap Rate 7%
$797,314
$797.3K
Cap Rate 9%
$620,133
$620.1K
Market Conditions
NOI Build-Up for 4,785 SF
Gross rent
$103.4K $21.60/SF
− Vacancy
−$10.3K −$2.16/SF
EGI
$93.0K $19.44/SF
− OpEx
−$37.2K −$7.78/SF
NOI
$55.8K $11.66/SF
Area
Bradley County, TN
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,240
Cap Rate 7%
$797,314
Cap Rate 9%
$620,133
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37323, TN
31,497
Population
12,841
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
114.6 sq mi
ZIP Area
275
Density / Sq Mi
$67,538
Median Household Income
$41,922
Median Earnings
$908
Median Rent
$213,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building featuring multiple exam rooms and provider space.
Where is this medical office space located?
The property is located at 1420 Fritz Street SE 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.; Ideal for medical practice: Designed specifically for medical use.; Additional provider office space upstairs.
