Property Details for 455 Inman St

Lot size

3.37 lot acres

Property size

10,656 SF

Property type

Distribution centers

Property subtype

Flex space

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.

Location Insight

City

Cleveland

County

Bradley

State

Tennessee

Longitude

-84.8700001

Latitude

35.157114