455 Inman St Cleveland, TN 37311

Property Details for 455 Inman St

Lot size

3.37 lot acres

Property size

10,656 SF

Property type

Flex space

Property subtype

Distribution centers

APN

057D E 020.00 000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 10,656-square-foot industrial property in Cleveland, Tennessee. Currently leased to Sunbelt Rentals, a major North American equipment rental company, under a triple-net (NNN) lease with a corporate guarantee, this property offers significant financial stability. The lease commenced August 11, 2022, and extends until October 31, 2032, providing a remaining lease term of approximately 7.9 years. The property boasts a strong 6.00% cap rate, generating a net operating income (NOI) of $127,308 annually. Rent increases are built-in at 3% annually, ensuring consistent cash flow growth. Situated on a spacious 3.37-acre lot, the property features a low building-to-lot coverage ratio of 7.25%, providing ample yard space. The building is currently undergoing a $1 million renovation, further enhancing its value. The property's strategic location on Inman Street E, with easy access to I-75 and other major highways, provides excellent connectivity to Chattanooga and the broader region. Cleveland's robust economic growth and construction activity create a favorable market for equipment rentals, supporting Sunbelt Rentals' continued success at this location. The tenant's substantial $1,000,000 capital contribution to the renovation underscores their long-term commitment to the property. The property's APN is 057D E 020.00 000. This is a rare opportunity to acquire a high-performing, net-leased industrial asset with a strong tenant and significant upside potential. The asking price is $2,121,800.