Institutional Property Advisor Acquires Office Property In Chattanooga, TN For $7.4M
SOLD
$7,400,000
Tennessee
See Similar DealsOffice17,837 SF
Sold 12/12/2022
SOLD
Institutional Property Advisor Acquires Office Property In Chattanooga, TN For $7.4M
320 East Main Street
See Similar DealsOffice17,837 SF
Sold 12/12/2022
Summary
TENNESSEE
Asset Type:Office
Price Per Square Foot:$414
Total Square Footage:17,837 SF
Transaction Type:Sale
An office property located at 320 E Main St Ste. 200 in Chattanooga, TN, has been sold for a total price of $7,400,000. The property spans a total area of 17,837 square feet, resulting in a price per square foot of $415.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,400,000
- Address: 320 E Main St Ste. 200, Chattanooga, TN
- Market: Chattanooga, TN
- Brokers: Joe Massa, Anthony Lunceford & Michael Grenaway - Institutional Property Advisor
- Square Footage: 17,837
- Price per Square Foot: $415
The sale was facilitated by Joe Massa, Anthony Lunceford, and Michael Grenaway from Institutional Property Advisor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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