Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 2976 Hunting Dr
- Year built
- 2022
- Lot size
- 0.55 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional investment opportunity presents a 3,726 square foot Class A medical office building, situated on a 0.55-acre lot at 2976 Hunting Dr NW, Cleveland, TN 37312. The property, constructed in 2022, is a single-story building currently leased to Fast Pace Urgent Care under an absolute NNN lease, providing a passive income stream. The lease features 10% rent increases every five years, ensuring consistent growth in rental income. The current lease expires April 30th, 2038. The property boasts a strong 6.35% cap rate and a substantial net operating income (NOI) of $169,963, with an asking price of $2,675,000 ($717.93 per square foot). Located in the thriving Cleveland, TN market, part of the Chattanooga MSA, this property benefits from its position within a retail expansion along the densely populated Paul Huff Parkway. Cleveland is a major industrial and manufacturing hub, home to numerous Fortune 500 companies, including Duracell, Whirlpool, Bayer, Mars Chocolate, Coca-Cola, Olin, and Amazon. This prime location and the strength of the tenant make this a compelling investment opportunity with significant long-term potential. The property is part of a growing medical corridor and benefits from the strong economic base of the region. This is a turnkey investment with a secure, long-term lease and built-in rent escalations.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Bradley
- State
- Tennessee
- Longitude
- -84.8829
- Latitude
- 35.2151
