2463 Main StCrossville, TN 38555

Property Details for 2463 Main St

Year built

2023

Construction

WOOD

Lot size

0.96 AC

Property size (Sq ft)

5,021 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

018087 05122

APU

1808705122

Description

This exceptional investment opportunity presents a 6,389-square-foot medical office building located at 2463 N Main St, Crossville, Tennessee, 38555. The property sits on a 0.96-acre lot and is currently 100% occupied by Parachute Plasma, a tenant with a strong track record (23+ locations). The building, constructed in 2024, is offered at $4,254,238, representing a compelling 6.75% capitalization rate based on a Net Operating Income (NOI) of $287,161. The investment is structured as a 20-year triple-net (NNN) lease, absolving the landlord of all operational responsibilities. This long-term lease provides financial stability with built-in annual rent increases of 2% commencing in year two, and includes four and five-year renewal options. Further enhancing the security of this investment is the corporate guarantee provided by Join Parachute. This turnkey medical office building presents a rare opportunity for passive income generation with significant long-term growth potential in the thriving Crossville market. The property's prime location and strong tenant covenant make it an ideal addition to any diversified real estate portfolio. The price per square foot is $665.87.

• CAP approach

  CAP return

  Valuation

  6%

  $1,061,963

  6.5%

  $980,274

  7%

  $910,254

• Comparable approach

  Method

  Valuation

  Relative Method

  $817,871

  Geo Method

  $979,396

• Alternative Use

  Use

  Valuation

  Residential

  $1,215,540

  Hospitality

  $1,113,428

  Educational

  $926,359

  Medical

  $958,218

  Retail

  $1,441,003

Location Insight

City

Crossville

County

Cumberland

State

Tennessee

Latitude

35.9813

Longitude

-85.0397

CBSA code

18900

CBSA name

CROSSVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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