For Sale
$3,375,000

675 Middle Creek Rd Sevierville, TN 37862

14,135 SF, 100% Occupied, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 14,135-square-foot medical office building in Sevierville, Tennessee presents a compelling investment opportunity. The property boasts 100% occupancy with two tenants: a regional and a national medical group. Both tenants are under long-term, triple-net (NNN) leases, ensuring minimal landlord responsibilities. The leases feature attractive 3% annual rent increases, providing predictable income growth. Summit Medical Group recently completed a $600,000 renovation to their space in 2023, and English Mountain Recovery is currently undergoing a $100,000 renovation. The building, constructed in 1985, benefits from a highly desirable location within a thriving medical corridor, situated across from LeConte Medical Center and adjacent to a VA Medical Center, the Sevier County Health Department, and the Burchfiel Medical Professional Building. The strong tenant base, coupled with the strategic location in a major tourist destination near the Great Smoky Mountains National Park and Dollywood, makes this a stable and potentially high-growth investment. The asking price is $3,375,000, representing a 7.25% cap rate. Summit Medical Group's lease is for 15 years, and English Mountain Recovery's lease is for 7 years. This property offers a rare combination of strong tenancy, predictable income, and significant upside potential.

Highlights

  • Fully occupied by Summit Medical Group (regional) and English Mountain Recovery (national) medical tenants.
  • 15-year NNN lease with 3% annual increases for Summit Medical Group; 7-year NNN lease with 3% annual increases for English Mountain Recovery.
  • NNN leases; tenants responsible for all operating expenses (taxes, insurance, maintenance).
  • Recent $600K renovation for Summit Medical Group and a $100K renovation underway for English Mountain Recovery.
  • Prime medical corridor location across from LeConte Medical Center and adjacent to a VA Medical Center and other medical facilities.
  • Strong location in Sevierville, a major tourist destination near Great Smoky Mountains National Park and Dollywood.

Property Details for 675 Middle Creek Rd

Property type
Office properties, Medical offices
Square Feet
14,135 SF
Year Built
1985

Location Insight

City
Sevierville
County
Sevier
State
Tennessee
Latitude
35.854973531852
Longitude
-83.540408290886

FAQs

What type of property is this?
Office property - 14,135 SF, 100% Occupied, NNN Lease
Where is the office property located?
The property is located at 675 Middle Creek Rd Sevierville, TN.
What is the asking price?
The asking price for this property is $3,375,000.
What are key features of this property?
This property features: Fully occupied by Summit Medical Group (regional) and English Mountain Recovery (national) medical tenants.; 15-year NNN lease with 3% annual increases for Summit Medical Group; 7-year NNN lease with 3% annual increases for English Mountain Recovery.; NNN leases; tenants responsible for all operating expenses (taxes, insurance, maintenance).
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 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 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].
675 Middle Creek 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