PRICE : | $14,940,000 |
---|---|
CAP RATE: | 6.5% |
PROPERTY TYPE: | Office |
SITE SIZE: | 5.37 Acres |
BUILDING SIZE: | 92,787 SF |
YEAR BUILT: | 1980 |
Opportunity to acquire a 100% occupied office building in Chattanooga, mostly leased by the U.S. Nuclear Regulatory Commission (NRC). The NRC is an important agency within the United States government tasked with protecting public health and safety related to nuclear energy. The NRC’s 62,153 SF U.S. Technical Training Center features specialized simulators on the first, second, third, and fourth floors. The lease runs through 1/16/2037 being firm term through 1/16/2027
The rest of the building is occupied by five quality tenants including mainly religious and healthcare-oriented businesses. The Chattanooga office market vacancy is below 5% with market rents at $20 per SF. The subject property offers fantastic upside as rents currently average $14.50 per SF.