1420 Fritz StCleveland, TN 37323

Property Details for 1420 Fritz St

Year built

2004

Lot size

0.37 AC

Property size (Sq ft)

4,899 SF

Zone code

CH

Property type

Healthcare properties

Property subtype

Medical offices

APN

065E F 016.04 000

APU

065EF01604000

Description

This exceptional 4,785 square foot medical office building presents a unique investment opportunity in the thriving Cleveland, TN market. Located at 1420 Fritz Street SE, the property sits on a 0.37-acre lot and offers a versatile layout ideal for a variety of medical practices. The main level boasts up to twelve exam rooms, a dedicated lab, a break room, an X-ray room, a spacious nurses' station, a substantial records area, a large waiting area, and five bathrooms. The building's functionality is further enhanced by additional provider office space located on the upper level, providing ample room for expansion or accommodating multiple practitioners. A comprehensive virtual tour is available for a thorough exploration of the property's features. The significant advantage of ownership, as opposed to leasing, offers long-term cost savings and control. This turnkey medical facility is ready for immediate occupancy. The potential for expansion is further enhanced by the possibility of acquiring an additional adjacent lot, subject to separate negotiation. This presents a rare opportunity to secure a well-established and highly functional medical office building in a desirable location. The asking price is $1,295,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,036,160

  6.5%

  $956,455

  7%

  $888,137

• Comparable approach

  Method

  Valuation

  Relative Method

  $797,998

  Geo Method

  $955,599

• Alternative Use

  Use

  Valuation

  Residential

  $1,186,004

  Hospitality

  $1,086,374

  Educational

  $903,850

  Medical

  $934,935

  Retail

  $1,405,989

Location Insight

City

Cleveland

County

Bradley

State

Tennessee

Latitude

35.13

Longitude

-84.8777

CBSA code

17420

CBSA name

CLEVELAND, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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