For Sale
$9,000,000

1405 Cowart St Chattanooga, TN 37408

Class A, fully leased, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional Class A medical office building, located at 1405 Cowart St in Chattanooga, TN, presents a compelling investment opportunity. The 23,974 square foot building, constructed in 2014 and renovated in 2021/2022, sits on a 0.83-acre lot and boasts 20,996 square feet of net rentable space. Currently 100% occupied by six tenants (five medical practices and one luxury hair salon), this property generates a strong NOI of $500,000, resulting in a 5.56% cap rate. The building features a contemporary design with high-end finishes, 55 on-site parking spaces, and additional off-street parking options. Its prime location in Chattanooga's thriving Southside offers exceptional visibility and accessibility, situated near major hospitals, interstate access (I-24, US-27, and I-75 within 7 miles), and the Chattanooga Regional Airport (9 miles). The property benefits from its proximity to numerous amenities, including restaurants, hotels (including The Westin Chattanooga, less than a mile away), and the University of Tennessee at Chattanooga. A newly completed Food City anchor complex with a pharmacy is directly adjacent, further enhancing the property's value and appeal. The building is equipped with EPB Fiber Optics, a state-of-the-art security system, and recently updated HVAC for the lobby and elevators. The U-IX-4 Industrial Mixed Use zoning allows for flexibility and future growth potential. This is a rare opportunity to acquire a high-performing, fully leased medical office building in a rapidly growing market. The asking price is $9,000,000.

Highlights

  • Class A medical office building totaling 23,974 square feet on a 0.83-acre lot.
  • 100% occupied by six tenants (five medical, one retail) generating a $500,000 NOI and a 5.56% cap rate.
  • 20,996 square feet of net rentable space with 55+ on-site parking spaces.
  • Built in 2014, renovated in 2021/2022, located at 1405 Cowart St, Chattanooga, TN.
  • U-IX-4 Industrial Mixed-Use zoning, offering flexibility and growth potential.

Property Details for 1405 Cowart St

Property type
Office properties, Medical offices
Square Feet
23,974 SF
Class
A
Year Built/Renovated
2014/2021
Buildings
1
Stories
3
Lot Size (sq. ft)
36,155 SF
Units
6

Location Insight

City
Chattanooga
County
Hamilton
State
Tennessee
Latitude
35.0384628
Longitude
-85.3099924

FAQs

What type of property is this?
Office property - Class A, fully leased, high NOI.
Where is the office property located?
The property is located at 1405 Cowart St Chattanooga, TN.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Class A medical office building totaling 23,974 square feet on a 0.83-acre lot.; 100% occupied by six tenants (five medical, one retail) generating a $500,000 NOI and a 5.56% cap rate.; 20,996 square feet of net rentable space with 55+ on-site parking spaces.
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1405 Cowart St
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