For Sale
$9,000,000

1405 Cowart StChattanooga, TN 37408

Class A, fully leased, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
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
1405 Cowart St, Chattanooga, Tennessee

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1405 Cowart St
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