1405 Cowart StChattanooga, TN 37408

Property Details for 1405 Cowart St

Year built

2014

Lot size

0.83 AC

Property size (Sq ft)

22,616 SF

Zone code

C3

Property type

Retail space

APN

145E V 002

APU

145EV002

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,525,850

  6.5%

  $5,100,780

  7%

  $4,736,440

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,831,280

  Geo Method

  $4,587,940

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,005,700

  Mixed-Use / Specialty

  $5,058,900

  Hospitality / Lodging

  $3,680,690

  Office

  $5,004,150

  Institutional / Educational

  $5,250,740

  Residential Income

  $6,143,370

  Multifamily

  $7,499,420

  Automotive / Energy

  $4,500,640

  Parking / Income-Based Land

  $1,576,530

  Restaurant / Food Service

  $2,580,590

  Healthcare / Senior Housing

  $5,212,110

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0384

Longitude

-85.31

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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