647 Morganton Square Dr - Medical CONDO FOR SALE


Maryville, TN 37801- Maryville/Alcoa
$750,000 USD
647 Morganton Square Dr, Maryville, TN for Sale
$750,000 USD
Medical CONDO - FOR SALE
1/13
null | Request Cap Rate

647 Morganton Square Dr
Maryville, TN 37801
Maryville/Alcoa


HIGHLIGHTS

  • Medical Office Condo - NNN Leased to Blount Memorial Hospital/Prisma Health
  • 2 Stores: 2,100 SF on 1st Floor - approximately 900 SF on 2nd Floor
  • 1st Floor - Lobby/Waiting Area w/Reception Desk & Visitor's Waiting Area - 8 Exam Rooms - Nurses' Station and Kitchen Area
  • 2nd Floor - Open Area & Mechanical Room
  • Office w/Private Restroom
  • Only Landlord responsibility is insurance in the amount of $1,263/Year

OVERVIEW

Medical office condominium NNN leased to Blount Memorial Hospital/Prisma Health. Tenant pays taxes, insurance, condo fee, utilities, maintenance, etc. Tenant has recently exercised the first of two three-year options to renew. The first option year begins on August 1, 2024, at $57,856.71/Year. The second option period will begin on August 1, 2027, at $63,221.59/Year, a 9%+ increase. If the tenant exercises the second option, the 6-year cap rate is 8%. There are two floors: approximately 2,200 SF on the first floor and approximately 900 SF on the second floor. The first floor has a large waiting area with a visitor's waiting room, reception desk, employee restroom, an office with a private restroom, kitchen area, 8 exam rooms and a nurses/filing area. Interior photos are from before the current tenant occupied the premises. SHOWINGS BY APPOINTMENT ONLY. PLEASE DO NOT DISTURB THE TENANT! PLEASE CALL THE LISTING AGENT TO ARRANGE AN APPOINTMENT AFTER HOURS.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$242 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Price Reduced! NNN Lease Medical Office in Co

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

3,100 SF

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

Central Community

APN/PARCEL ID

057E-A-008.01-C-004

ASK ABOUT THIS PROPERTY

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