905 Clingan Ridge Dr NW Cleveland, TN 37312
For Sale
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This exceptional investment opportunity presents a 7,284 square foot medical office building in Cleveland, Tennessee, fully leased to a credit-rated national dialysis care center under a 10-year NNN lease with 9 years remaining. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $213,950, with built-in rent bumps ensuring consistent income growth. Situated on a 1.59-acre lot at 905 Clingan Ridge Dr NW, Cleveland, TN 37312, the building was constructed in 1997 and is zoned CH1.59. The tenant, a well-established national company, provides significant stability and security for investors. The lease includes two lease options, further enhancing the long-term value of this asset. The property's location in a rapidly growing area of Cleveland, Tennessee, contributes to its strong investment potential. The asking price is $3,890,000, translating to a price per square foot of $534.05. This is a prime opportunity for investors seeking a stable, high-performing asset in the healthcare sector. The property offers a secure and predictable income stream, making it an attractive addition to any diversified portfolio.
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Fresenius Kidney Care Bradley Medical Clinic
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Holly Endo Physician
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Dialysis Care Center Cleveland Medical Clinic
CH zone. E. Car wash. F. Oil change facilities. (As amended by Ord. #11, March 2001, Ord. #20, March 2002, and Ord. #23, Sept. 2002) G. Animal Kennel and Boarding (as amended by Ord. #25, Aug. 2020) H. Nightclubs (as amended by Ord. 2022-29, August 2022) 2.12 CBD District (Central Business District) (as amended by Ord. 2021- 13, May 2021) Intent, Goals, and…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CH · Cleveland, TNCH zone. E. Car wash. F. Oil change facilities. (As amended by Ord. #11, March 2001, Ord. #20, March 2002, and Ord. #23, Sept. 2002) G. Animal Kennel and Boarding (as amended by Ord. #25, Aug. 2020) H. Nightclubs (as amended by Ord. 2022-29, August 2022) 2.12 CBD District (Central Business District) (as amended by Ord. 2021- 13, May 2021) Intent, Goals, and Definitions 1. It is the intent of the Central Business District to promote traditional urban APP-C-44 development with multi-story buildings built close to the sidewalk and a mix of uses within each site and within individual buildings. For instan ce, residences can be integrated with non- residential development in the form of condos, townhouses, or loft apartments. Such urban places are intended to provide a concentration of goods and services that attract commerce -all within a walkable environment. 2. The Central Business District is also intended to promote higher density development that supports transit and multimodal transportation including automobile, bicycle, and pedestrian traffic. The intent is to reduce the need for parking as these urban areas are generally serviced by a well -connected street grid and transit system. Pedestrian and bicycle facilities also play an important role in reducing parking needs by reducing the number of vehicular trips. Parking reductions may also be used in conjunction with all shared parking options to further reduce the number of spaces required. 3. For the purposes of Central Business District, it is intended that use of existing buildings be considered “redevelopment” and if a conflict occurs with standards for height, setback, and building footprint square footage, proposed developments shall be considered legal, non -conforming when proposed
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
