Retail and Office Investment
7610 Hamilton Park Dr, Chattanooga, TN 37421
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12,000 SF retail and office building, 100% occupied, strong NOI.
Type:Office, Retail
Property size:
12,000 SFLot size:
1.53 AcresPrice / SF:
$208/SF- Added:
- Oct 31, 2024
- Days on Market:
- 616
- Last Refresh:
- Jun 23 at 7:51 am
Property Features for 7610 Hamilton Park Dr
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 1.53 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1997
Listing office KW Commercial (423) 667-8634
Listing date Oct 31, 2024
Source Crexi
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 KW Commercial
HighLights
- Strong Net Operating Income (NOI) of $169,296.40 per year.
- 100% Occupancy with five different tenants provides stable income.
- Strategic Location: Situated 2 miles from the $1 Billion Volkswagen Auto Plant and adjacent to I‑75 (100,000+ cars/day).
- Recent Upgrades: New TPO roof (installed 2020 with 15‑year warranty) and updated HVAC units.
- Additional Income: Fairway Digital Billboard with long‑term lease generates over $12,000 per year.
- Favorable Due Diligence: Clean Phase 1 Environmental Report (2019) and outside the 100‑year floodplain.
Overview
This 12,000 square foot retail and office building, constructed in 1997, is situated on a 1.53-acre lot. Zoned C2, the Class B building features one story and 60 parking spaces. The property is 100% occupied by five tenants, who are responsible for their own utilities. Infrastructure is well-maintained, including a new TPO roof system installed in October 2020, which comes with a 15-year warranty. HVAC units have been replaced, with two units upgraded in 2020 and three in 2021. The building is equipped with security lighting and features a concrete parking lot and landscaping. Located 2 miles from the $1 billion Volkswagen Auto Plant off of the Bonny Oaks exit, the property benefits from high traffic volume, with the Bonny Oaks exits receiving over 20,000 vehicles per day. The property sits outside the 100-year floodplain and has a clean Phase 1 Environmental Report completed in 2019. Operating expenses are approximately $7,410 annually, with total expenses around $43,067 annually, resulting in a net operating income (NOI) of $169,296.40 per year. The property includes a Fairway Digital Billboard with a long term lease that generates over $12,000 per year of income, which is included in the NOI. The property also backs up to the I-75 interstate, which carries over 100,000 cars per day, providing signage exposure. Tenants include ADT Inc (4 Suites), Jani- King (2 suites), Learn to Learn, Inc (Prometric) (2 suites), Learn to Learn, Inc (Sylvan Learning Center) (1 suite), and Andra’s Finds Tailoring (Fairy Godmother Tailoring) (1 suite).
Local Financial Insights For Office B
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 | $216.0k | $18.00 |
| − Vacancy | −$32.4k | −$2.70 |
| EGI | $183.6k | $15.30 |
| − OpEx | −$45.9k | −$3.82 |
| NOI | $137.7k | $11.48 |
12,000 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,700 @ 7.0% cap · market cap 5.51%
Second Best
Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,518 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Sylvan Learning of Chattanooga
Tutoring Service
Prometric Testing Center
Training Center
Integrity Mortgage Group
Loan Service
Everon - ADT Commercial
Corporate Office
ADT Security Services
Security Service
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.1346902
- Latitude
- 35.0577031
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 12,000 SF retail and office building, 100% occupied, strong NOI.
Where is this retail space located?
The property is located at 7610 Hamilton Park Dr Chattanooga, TN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Strong Net Operating Income (NOI) of $169,296.40 per year.; 100% Occupancy with five different tenants provides stable income.; Strategic Location: Situated 2 miles from the $1 Billion Volkswagen Auto Plant and adjacent to I‑75 (100,000+ cars/day).
