194 Frank L Diggs Dr, Clinton, TN 37716-6952
- Office Spaces
- 37,966 SF
- 4.32 lot acres
Current Use by Public Records
- Sunbelt Rentals Flooring Solutions / Building Supply / Industrial Manufacturer
- Sunbelt Rentals Climate Control / (Bike/Boat/Book/etc) Store / Rental Equipment Company
Property Details for 194 Frank L Diggs Dr
- Year built
- 2002
- Construction
- FRAME
- Lot size
- 4.32 lot acres
- Property type
- Office Spaces
- APN
- 001055 11800
- APU
- 105511800
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 18, 2022 | $3,575,000 | Midway 3 Properties LLC | Nsi | Warranty Deed | — |
| Aug 2, 2017 | $1,961,434 | Nsi | Waldschmidt,robert H | Grant Deed | — |
| Jul 5, 2006 | $1,915,597 | Tennessee Office Holdings LLC | Hearthwood Properties 1 LLC | Grant Deed | $14.8M · Regions Bank |
| Jul 29, 2005 | — | Hearthwood Properties 1 LLC | Hearthwood Properties 2 LLC | Quit Claim Deed | — |
Description
This exceptional investment opportunity presents a 38,000 square foot industrial property located at 194 Frank L Diggs Drive, Clinton, TN 37716. The property, built in 2002 and extensively renovated in 2023, sits on a 4.32-acre lot within the Clinton I-75 Industrial Park, less than a mile from a major I-75 intersection (48,000+ vehicles per day). The property is currently 100% occupied by two tenants: Sunbelt Rentals, a leading equipment rental company with an investment-grade credit rating (S&P: BBB-), and Axis Fabrication & Machine, a regional machining and fabrication services provider. This is a multi-tenant net lease investment with minimal landlord responsibilities. Both tenants have recently executed new leases with built-in rent increases. The asking price is $5,537,714, representing a 7.00% cap rate and a NOI of $387,640. The property offers significant passive cash flow potential in a tax-friendly, high-growth state. Lease terms and rent bump specifics vary by tenant. This is a rare opportunity to acquire a well-located, high-quality industrial asset with strong, established tenants in a thriving market. The property benefits from its strategic location within a major industrial park and its proximity to a high-traffic interstate. The recent renovations ensure the property is modern and well-suited to the tenants' needs. This investment offers a secure and attractive return for discerning investors.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,770,000
- ML approach
- $3,870,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,259,000
Market price range: $1.70M - $5.23M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Clinton
- County
- Anderson
- State
- Tennessee
- Longitude
- -84.0853
- Latitude
- 36.1562
- CBSA code
- 28940
- CBSA name
- KNOXVILLE, TN METROPOLITAN STATISTICAL AREA
