418 West Lake Ave
Industrial | 7.00% CAP | 122,174 SqFt
Marketing description
The Tashakorian Group of Marcus & Millichap is pleased to present 418 West Lake Ave, a 122,174-SF, multi-tenant, NNN-leased warehouse building. The Property is located in Rossville, GA, within the Chattanooga, TN–GA MSA, less than six miles from Downtown Chattanooga and approximately eight miles from Chattanooga Metropolitan Airport. The Chattanooga market benefits from a centralized regional location, providing efficient access to Atlanta, Knoxville, Nashville, and Birmingham.
Originally constructed in phases between 1967 and 1969, the Property has undergone substantial capital improvements in recent years. Notable upgrades include approximately 40% roof replacement, installation of new LED lighting, addition of a new grade-level door to allow cross drive-in access, removal of legacy silos, and parking lot improvements including new seal coating, restriping, and the addition of 25 parking spaces. The Property features thirteen dock-high doors and two grade-level doors.
Investment highlights
- 100% LEASED TO TWO TENANTS ON NNN LEASES
- SMITH MILLWORKS OCCUPIES 80% OF THE PROJECT
- 3.0%-3.5% ANNUAL INCREASES
- RECENTLY RENOVATED WITH NEW OFFICES, CROSS DOCK ACCESS, PARTIAL ROOF REPLACEMENT AND MORE
- APPROX. 6 MILES TO DOWNTOWN CHATTANOOGA, TN
- EFFICIENT ACCESS TO ATLANTA, KNOXVILLE, NASHVILLE, AND BIRMINGHAM
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