Paul Huff Corners Building 200

640 Paul Huff Parkway, Building 200 Cleveland, TN

$4,124,000

Price

6%

Cap Rate

$247,494

NOI

Overview
Cap Rate
6%
NOI
$247,494
Building Size
7,178 sqft
Lot Area
0.71 acres
Year Built
2019
Tenancy
Multiple
Parking Spots
245
Description

The subject property is ideally located with excellent access and visibility along at the junction of Peerless Road and Paul Huff Parkway (22,900 AADT) near its junction with I-75 (41,940 AADT) and approximately 1 mile from its junction with US-11 (31,630 AADT). The site benefits from robust demographics with a total daytime population of 70,619 within 5 miles of the site. Average household income within 3 miles of the site exceeds $72,410, and the annual growth rate within that radius is 1.20%.

The property benefits from a prominent retail location within a robust retail corridor neighboring numerous shopping centers and major retail tenants. Shopping centers neighboring the site include Cleveland Towne Center, anchored by Target; Mouse Creek Crossing, with tenants including Publix and National Tire and Battery; The Shops at Cleveland, anchored by Home Depot; Hickory Grove, featuring ALDI, Lowe’s, and Petco; Bradley Square Mall, anchored by AMC Theaters, Belk, and TJ Maxx; Bradley Commons, with tenants including Food Lion, Hobby Lobby, and Dollar Tree; and Cleveland Corners, featuring Big Lots and Tuesday Morning. Other major tenants in the surrounding area include Walmart Supercenter, Walgreens, CVS, The Home Depot, Food City, and more.

In addition, the property is located approximately 1 mile from Cleveland State Community College, with a student body of approximately 3,700, and approximately 3.5 miles from Lee University, with approximately 5,400 students enrolled and a staff of more than 800. The site is located approximately 3 miles from Tennova Healthcare’s Cleveland Medical Center, a 183-bed hospital and with a staff of 1,157. Other major employers in the surrounding area include Mars Chocolate, located approximately 1.5 miles from the property, with a staff of approximately 575. The property additionally neighbors Ernest L. Ross Elementary School and Donald P. Yates primary school, drawing additional traffic from students, parents, and teachers proximal to the site.

This property is listed in conjunction with Tennessee-licensed real estate broker Kabat Real Estate Solutions.

Highlights
  • 100% Leased on Long Term Leases to National and Regional Tenants with Scheduled Rental Escalations in 100% of Leases
  • Strategic Tenant Mix Featuring Internet-Resistant Food & Service Uses
  • Excellent Access and Visibility Adjacent to I-75 Junction - Combined AADT of 64,840
  • Robust Demographics in Surrounding Area - Total Daytime Population of 70,619 within 5 Miles of Site
  • Nearby Anchor Tenants include Walmart Supercenter, Target, Publix, ALDI, & More
  • Approximately 1 Mile from Cleveland State Community College & 3 Miles from Lee University - Student Population of 9,100 within 5 Mile Radius

Location
Gallery