For Sale
$757,714

8116 Standifer Gap RdChattanooga, TN 37421

Net-leased medical office, strong tenant.

Overview

Added:
Jan 24
Days on market:
70
This exceptional investment opportunity presents a 2,000 square foot, net-leased medical office building located at 8116 Standifer Gap Rd, Chattanooga, TN 37421. The property, built in 1981 and extensively renovated in 2020, is currently 100% occupied by Alliance Animal Health, a credit-rated tenant with over 200 partner practices and 3,000 team members nationwide. The 15-year lease, commencing May 24, 2022, features a remaining term of 12.3 years with two, five-year renewal options. Annual rent bumps of 3% provide a hedge against inflation and consistent cash flow growth. The $757,714 asking price represents a 7.00% cap rate and a price per square foot of $378.86, based on a current NOI of $53,040. The 2020 renovation included a new HVAC system, TPO roof, exterior and interior improvements, and a new 200 square foot grooming room. This strategically located property benefits from high visibility on Standifer Gap Rd, with easy access to Interstate 75, and proximity to major retail centers like Hamilton Place Mall, as well as CHI Memorial Hospital and other significant amenities. The property serves a strong demographic area with over 94,000 residents within a 5-mile radius, boasting an average household income exceeding $93,000. The veterinary services market's robust growth makes this a recession-resistant investment with significant long-term potential.

Highlights

  • $757,714 asking price for a 2,000 SF medical office building in Chattanooga, TN.
  • Net lease, NNN, with a credit-rated tenant.
  • 12.3 years remaining on a 15-year lease, commencing May 24, 2022, with 3% annual rent bumps and two 5-year options.
  • 7% cap rate, $53,040 NOI, $378.86/SF price.
  • 100% occupancy; building renovated in 2020.
  • Located on Standifer Gap Rd, offering easy access to I-75.

Property Details for 8116 Standifer Gap Rd

Property type
Retail properties, Office properties
Square Feet
2,000 SF
Year Built/Renovated
1981/2020

Location Insight

City
Chattanooga
County
Hamilton
State
Tennessee
Latitude
35.042323747352
Longitude
-85.114019752681
8116 Standifer Gap Rd, Chattanooga, Tennessee

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
8116 Standifer Gap Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message