8116 Standifer Gap RdChattanooga, TN 37421

Property Details for 8116 Standifer Gap Rd

Year built

1975

Lot size

0.62 AC

Property size (Sq ft)

2,000 SF

Zone code

RR

Property type

Specialty properties

Property subtype

Other specialty properties

APN

149 027.01

APU

14902701

Description

This exceptional investment opportunity presents a 2,000 square foot, net-leased medical office building located at 8116 Standifer Gap Rd, Chattanooga, TN 37421. The property, built in 1981 and extensively renovated in 2020, is currently 100% occupied by Alliance Animal Health, a credit-rated tenant with over 200 partner practices and 3,000 team members nationwide. The 15-year lease, commencing May 24, 2022, features a remaining term of 12.3 years with two, five-year renewal options. Annual rent bumps of 3% provide a hedge against inflation and consistent cash flow growth. The $757,714 asking price represents a 7.00% cap rate and a price per square foot of $378.86, based on a current NOI of $53,040. The 2020 renovation included a new HVAC system, TPO roof, exterior and interior improvements, and a new 200 square foot grooming room. This strategically located property benefits from high visibility on Standifer Gap Rd, with easy access to Interstate 75, and proximity to major retail centers like Hamilton Place Mall, as well as CHI Memorial Hospital and other significant amenities. The property serves a strong demographic area with over 94,000 residents within a 5-mile radius, boasting an average household income exceeding $93,000. The veterinary services market's robust growth makes this a recession-resistant investment with significant long-term potential.

• Alternative Use

  Use

  Valuation

  Residential

  $484,182

  Hospitality

  $443,508

  Educational

  $368,994

  Medical

  $381,684

  Retail

  $573,990

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.042

Longitude

-85.1143

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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