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862 Callen Lane Prof Center | NNN Leases 862 Callen Ln NW 9,700 SF 100% Leased Office Building Cleveland, TN 37312 $6,451,491 CAD ($665.10 CAD/SF) 6.25% Cap Rate
Investment Highlights
- New construction med-tail asset with long-term NNN leases and annual rent increases
- Strategically located .20 miles from I-75 Interchange just off Paul Huff Parkway, the primary commercial thoroughfare serving Cleveland
- Fixed annual rent increases provides hedge against inflation
- Rent is secured by three experienced and successful medical groups that have made large investments and long-term leases
- Tenants reimburse for Taxes, CAM, Insurance and Management fees
- Brand new building with transferable roof warranty provides ease of ownership and stable cash-flow
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this fully occupied medical office building with long-term NNN leases. The property is strategically located just off Paul Huff Parkway, Cleveland's primary commercial thoroughfare with close proximity to I-75, Publix and The Home Depot.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
9,700 SF
Building Class
B
Year Built
2023
Price
$6,451,491 CAD
Price Per SF
$665.10 CAD
Cap Rate
6.25%
NOI
$403,246 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,700 SF
Building FAR
0.14
Lot Size
1.56 AC
Zoning
PUD - planned unit development
Parking
59 Spaces (6.08 Spaces per 1,000 SF Leased)
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Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 034I-F-015.00 | Improvements Assessment | $729,169 CAD |
| Land Assessment | $438,290 CAD | Total Assessment | $1,167,459 CAD |
Property Taxes
Parcel Number
034I-F-015.00
Land Assessment
$438,290 CAD
Improvements Assessment
$729,169 CAD
Total Assessment
$1,167,459 CAD
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862 Callen Lane Prof Center | NNN Leases | 862 Callen Ln NW
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