Listed by NAI Koella | RM Moore
$1,900,000
Roane Medical Plaza
Details
APN 045 022.10
Property Type Office
Sub Type Medical Office
Square Footage 28,880
Cap Rate 5.16%
NOI $108,373
Tenancy Multi
Pro-Forma Cap Rate 16.71%
Pro-Forma NOI $317,406
Broker Co-Op Yes
Class B
Year Built 1997
Buildings 1
Stories 2
Acreage 5.210
Parking Spaces 134 spaces
Parking Per SqFt 4.64
Investment Type Value Add
Land & Medical Office | 28,880 SF | 5.21 Acres | Value-Add
Marketing description
28,880 square foot office building situated on 3.21 acres. The property currently has approximately 9,000 SF of medical space available on the upper level of the building priced at $15.00 PSF - Modified Gross. The spaces are in move-in condition.
In addition, 2 acres available at the back of the property priced at $300,000 - Separate Parcel - New Survey Completed
Rent Roll and Survey Information Available Upon Request
Motivated Seller
Corner of Hwy 382 & Roane St
Investment highlights
- Anchor tenant State of Tennessee 2031 lease term
- Excellent above-grade visibility on signalized corner
- Pro forma potential gross rents of $371,500 annually
- Approximately 9,000 contiguous SF currently vacant
- Active leasing efforts at $15/SF + $3.50/SF NNN on vacancy
- Great opportunity for double-digit cap rate and cash-on-cash
- Excess ~2 acres in the back could be valuable for development
- Active sale and leasing efforts at $300k or $30k/yr for ~2 acres
- Value-add potential for new management to execute on strategy
- 28,880 SF building with spacious floor layouts
- Built in 1997, well-maintained and modern
- Ideal for medical or office use
- Ample parking for staff and visitors
- Proximity to major transportation routes
Listing Contacts
Listed by NAI Koella | RM Moore
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$108,373.00
$9,031.08/mo
Valuation Metrics
0
DSCR
5.7%
Cap Rate
5.7%
ROI
Map
Zoning
C-2 CommercialGeneral CommercialGeneral Commercial District
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View all 15 uses
View all 15 uses Last updated May 14, 2026 For deeper zoning details, reports are available at Zoneomics
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