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    1208 Congress Pkwy Athens, TN 37303

    Sponsored
    For Sale
    $5,925,000

    High-yield NNN medical office, 20-year lease.

    Property size:
    6,532 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 6,532 square foot medical office building in Athens, Tennessee, currently leased to Parachute Plasma under a 20-year absolute triple-net (NNN) lease. The property sits on a 1.47-acre lot at 1208 Congress Pkwy S, 37303. Built in 2024, the building boasts a strong 7.50% cap rate and a substantial net operating income (NOI) of $444,375. The lease features attractive 2.00% annual rental increases commencing in year six, providing consistent and growing income. The tenant, Parachute Plasma, is backed by a corporate guarantee, mitigating risk. This is a fee-simple ownership opportunity with significant long-term potential, given Parachute Plasma's ambitious expansion plans, aiming for 65+ locations by the end of 2026 and over 100 by the end of 2028. The asking price is $5,925,000, translating to a price per square foot of $907.07. This property offers a secure, passive income stream with built-in growth potential. The lease ensures no landlord responsibilities, making this an ideal investment for those seeking a low-maintenance, high-return asset. The property's prime location in Athens, Tennessee, further enhances its appeal.

    Property Features for 1208 Congress Pkwy

    General Information

    Property type
    Medical offices
    Square Feet
    6,532 SF
    Lot Size
    64,033 SF

    Building Details

    Year Built
    2024

    HighLights

    • $5,925,000 asking price for a 6,532 SF medical office building.
    • 20‑year absolute triple‑net (NNN) lease with Parachute Plasma, a corporate guaranteed tenant.
    • 7.50% cap rate with a $444,375 annual net operating income (NOI).
    • 2.00% annual rent increases beginning in year six.
    • Located on a 1.47‑acre lot at 1208 Congress Pkwy S, Athens, TN 37303.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    McMinn
    State
    Tennessee
    Longitude
    -84.6217692
    Latitude
    35.4532035

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    FAQs

    What type of property is this?
    Medical office - High-yield NNN medical office, 20-year lease.
    Where is this medical office located?
    The property is located at 1208 Congress Pkwy Athens, TN.
    What is the asking price?
    The asking price for this property is $5,925,000.
    What are key features of this property?
    This property features: $5,925,000 asking price for a 6,532 SF medical office building.; 20-year absolute triple-net (NNN) lease with Parachute Plasma, a corporate guaranteed tenant.; 7.50% cap rate with a $444,375 annual net operating income (NOI).
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    Athens, TN 37303
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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
    1208 Congress Pkwy Athens, TN 37303
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