1208 Congress Pkwy Athens, TN 37303
Property Lookup
Property profile & analytics
1208 Congress Pkwy Athens, TN 37303
- Commercial land
- 1,276 SF
- 1.60 lot acres
Property ID
US80-1215714
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Commercial land
Property Details for 1208 Congress Pkwy
- Year built
- 1959
- Lot size
- 1.60 lot acres
- Property size
- 1,276 SF
- Zone code
- B-2
- Property type
- Commercial land
- APN
- 054056 08800
- APU
- 5405608800
Description
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.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Mcminn
- State
- Tennessee
- Longitude
- -84.6221
- Latitude
- 35.4531
- CBSA code
- 11940
- CBSA name
- ATHENS, TN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,855
$136,600
$0.00
$136,600
-
$341,500
$0.00
$341,500
