2976 Hunting Dr Cleveland, TN 37312

Property Details for 2976 Hunting Dr

Year built

2022

Lot size

0.55 lot acres

Property size

3,726 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

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.