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    905 Clingan Ridge Dr Cleveland, TN 37312

    For Sale
    $3,890,000

    Net-leased medical building, strong tenant.

    Property size:
    7,284 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional investment opportunity presents a 7,284 square foot medical office building in Cleveland, Tennessee, fully leased to a credit-rated national dialysis care center under a 10-year NNN lease with 9 years remaining. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $213,950, with built-in rent bumps ensuring consistent income growth. Situated on a 1.59-acre lot at 905 Clingan Ridge Dr NW, Cleveland, TN 37312, the building was constructed in 1997 and is zoned CH1.59. The tenant, a well-established national company, provides significant stability and security for investors. The lease includes two lease options, further enhancing the long-term value of this asset. The property's location in a rapidly growing area of Cleveland, Tennessee, contributes to its strong investment potential. The asking price is $3,890,000, translating to a price per square foot of $534.05. This is a prime opportunity for investors seeking a stable, high-performing asset in the healthcare sector. The property offers a secure and predictable income stream, making it an attractive addition to any diversified portfolio.

    Property Features for 905 Clingan Ridge Dr

    General Information

    Property type
    Medical offices
    Square Feet
    7,284 SF
    Lot Size
    69,260 SF

    Building Details

    Year Built
    1997

    HighLights

    • 7,284 SF medical office building in Cleveland, TN, fully leased to a credit‑rated national tenant.
    • 10‑year NNN lease with 9 years remaining, including two lease options.
    • 5.50% cap rate and $213,950 NOI with built‑in rent increases.
    • Located on a 1.59‑acre lot at 905 Clingan Ridge Dr NW, Cleveland, TN 37312; built in 1997, CH1.59 zoning.
    • $3,890,000 asking price ($534.05/SF).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fresenius Kidney Care ... Dialysis Center Holly Endo Nurse Practitioner Dialysis Care Center ... Dialysis Center

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.873691569111
    Latitude
    35.187052984394

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    FAQs

    What type of property is this?
    Medical office - Net-leased medical building, strong tenant.
    Where is this medical office located?
    The property is located at 905 Clingan Ridge Dr Cleveland, TN.
    What is the asking price?
    The asking price for this property is $3,890,000.
    What are key features of this property?
    This property features: 7,284 SF medical office building in Cleveland, TN, fully leased to a credit-rated national tenant.; 10-year NNN lease with 9 years remaining, including two lease options.; 5.50% cap rate and $213,950 NOI with built-in rent increases.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    905 Clingan Ridge Dr Cleveland, TN 37312
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