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29387031
29975246

5811 Lee Highway, Chattanooga, TN 37421

MG
TN 370241, GA 423224
SVN Second Story Real Estate Management- Atlanta
BJ
GA 182833
SVN Second Story Real Estate Management- Atlanta
Listed by SVN Second Story Real Estate Management- Atlanta
$3,250,000
130 days on market
Updated 59 days ago

Central Office Park

Details
Property Type Office, Retail
Sub Type Traditional Office
Square Footage 19,360
Units 17
NOI $255,253
Occupancy 100%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Price per SqFt $168
Class B
Year Built 1961
Year Renovated 2021-2024
Stories 1
Investment Type Value Add

Office/Retail | 19,360 SqFt

Marketing description

SVN | Second Story is pleased to present to the market for sale a ±19,360 SF multi-tenant office and retail investment property. Located at 5805-5811 Lee Highway in Chattanooga, Tennessee this well-maintained, high-performing asset offers stable in-place income with clear valueadd potential. The offering includes an income-generating billboard that is leased on a long-term basis. The property is positioned along one of the region’s primary commercial corridors and benefits from excellent visibility, strong traffic counts, and easy accessibility to key commercial districts. Fully occupied by a diverse tenant roster, the asset provides consistent cash flow with minimal near-term capital expense risk. Recent capital improvements, including replacement of HVAC units and installation of a partial new roof, have enhanced the building’s efficiency and extended its useful life. This offering presents a compelling value-add investment opportunity through strategic leasing initiatives. Many existing tenants are currently on month-to-month leases, creating a clear pathway for an investor to drive NOI growth by securing tenants on longer-term lease agreements. With opportunities for modernization and upgrades, there is significant room to increase rental rates to market levels. The property’s strong location, high occupancy, and well-maintained physical condition position it well for continued performance and income growth.

Listing Contacts

MG
TN 370241, GA 423224
SVN Second Story Real Estate Management- Atlanta
BJ
GA 182833
SVN Second Story Real Estate Management- Atlanta
Listed by SVN Second Story Real Estate Management- Atlanta

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$255,253.00
$21,271.08/mo

Valuation Metrics

0
DSCR
7.85%
Cap Rate
7.85%
ROI

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Additional Information

Name
Micajah Gary, CCIM
License
370241
Brokerage
SVN|Second Story
Brokerage Phone
404-445-2176
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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