675 Middle Creek Rd - Medical FOR SALE


Sevierville, TN 37862
$3,375,000 USD
516-684-9003
675 Middle Creek Rd, Sevierville, TN for Sale
$3,375,000 USD
Medical - FOR SALE
1/6
null | 7.25% Cap Rate

675 Middle Creek Rd
Sevierville, TN 37862


HIGHLIGHTS

  • NATIONAL & REGIONAL TENANTS - Summit Medical Group (regional medical tenant) and English Mountain Recovery/Summit BHC (national medical tenant)
  • LONG TERM LEASES - 11 year W.A.L.T
  • NNN LEASES WITH 3% ANNUAL RENT INCREASES - both tenants are reponsible for CAM, Tax, and Insurance with annual 3% rental increases
  • LOCATED IN MEDICAL CORRIDOR - Located across the street from LeConte Medical Center (recognized as a Top 100 Community Hospital)
  • MAJOR TOURIST DESTINATION - close proximity to the Great Smokey Mountains
  • CAPITAL IMPROVEMENTS - Summit Medical Group’s space underwent a $600K and English Mountain Recovery is undergoing an est. $100K renovation

OVERVIEW

MIDDLE CREEK MEDICAL ARTS BUILDING is a 14,135 SF multi-tenant medical office building located in Sevierville, TN. There are two medical tenants that occupy 100% of the building. Summit Medical Group, a regional medical tenant and English Mountain Recovery (Summit BHC), a national medical tenant. Summit Medical Group, which occupies 57% of the Property, recently completed a $600K renovation to their space and simultaneously signed a 15-year NNN lease with 3.0% annual rent increases. English Mountain Recovery (Summit BHC), which occupies the remainder of the Property, is also undergoing a $100K renovation to their space and simultaneously signed a 7-year NNN lease with 3.0% annual rent increases.

FOR SALE DETAILS

PRICE

$3,375,000 USD

PRICE/SF

$239 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sevierville Medical Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

61

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

C4

APN/PARCEL ID

062-014.01

ASK ABOUT THIS PROPERTY

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516-684-9003

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516-684-9003

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