2976 Hunting DrCleveland, TN 37312

Property Details for 2976 Hunting Dr

Year built

2022

Lot size

0.55 AC

Property size (Sq ft)

3,726 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional investment opportunity presents a 3,726 square foot Class A medical office building, situated on a 0.55-acre lot at 2976 Hunting Dr NW, Cleveland, TN 37312. The property, constructed in 2022, is a single-story building currently leased to Fast Pace Urgent Care under an absolute NNN lease, providing a passive income stream. The lease features 10% rent increases every five years, ensuring consistent growth in rental income. The current lease expires April 30th, 2038. The property boasts a strong 6.35% cap rate and a substantial net operating income (NOI) of $169,963, with an asking price of $2,675,000 ($717.93 per square foot). Located in the thriving Cleveland, TN market, part of the Chattanooga MSA, this property benefits from its position within a retail expansion along the densely populated Paul Huff Parkway. Cleveland is a major industrial and manufacturing hub, home to numerous Fortune 500 companies, including Duracell, Whirlpool, Bayer, Mars Chocolate, Coca-Cola, Olin, and Amazon. This prime location and the strength of the tenant make this a compelling investment opportunity with significant long-term potential. The property is part of a growing medical corridor and benefits from the strong economic base of the region. This is a turnkey investment with a secure, long-term lease and built-in rent escalations.

Location Insight

City

Cleveland

County

Bradley

State

Tennessee

Latitude

35.2151

Longitude

-84.8829

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