Summit III at Cedar Bluff
Offering Summary
Summit III at Cedar Bluff Knoxville, Tennessee
100% leased stabilized class “A” multi-tenant office investment Credit rent roll with AT&T, Comcast, Earthlink and Mednax
SUMMIT III BUILDING AT CEDAR BLUFF
Ackerman & Co. and Sperry Van Ness | R.M. Moore LLC, as exclusive agents to the seller, are pleased to present the Summit III Office Building (the “Property”) to qualified owners and investors. The Property, built in 2000, is a class “A” multi-tenant office building located at 410 N Cedar Bluff Rd in Knoxville, Tennessee. The Property is visible from I-40 and easily accessible from the Cedar Bluff exit. When compared to other competing properties within the submarket, the Property is generally superior in almost all aspects including appearance, quality of construction and is one of the few true class “A” assets located in this submarket. The Property’s intrinsic value will continue to be secured by its professional design, superior construction and an invaluable location.
OFFERING SUMMARY ADDRESS:
410 N Cedar Bluff Rd
SIZE:
56,187 SF
YEAR BUILT:
2000
NUMBER OF FLOORS:
4
SURFACE PARKING:
206 (3.67 per 1,000 RSF)
NUMBER OF TENANTS:
7
OFFERING PRICE:
$8,300,000
PSF:
$147 PSF
YEAR-ONE NOI:
$671,077
OCCUPANCY RATE:
100%
DEBT STRUCTURE:
Must be assumed (see debt summary)
2
SUMMIT III BUILDING AT CEDAR BLUFF
3
Located strategically in the heart of the Cedar Bluff submarket, this class “A“ mid-rise office property offers the following benefits to the
24 40
40
Below Replacement Cost Opportunity – Summit III at Cedar Bluff can be acquired at a price far below the cost to construct a new class “A” office property in East Tennessee. Superior Demographics – Surrounded by a dense affluent population where likely business owners and decisions makers live and desire office space close to home.
SUMMIT III BUILDING 410 N CEDAR BLUFF RD KNOXVILLE, TN
CROSS PAR K DR
EXECUTIVE PARK DR
Strong Credit Rent Roll – Tenants include AT&T, Comcast and Earthlink, investment grade tenants. Other tenants like Pattison Sign Group, Insphere Insurance and Mednax are large national firms.
UFF RD N C E DA R B L
75
75
65
Appreciation Through Rent Growth – Most leases have built in escalations to provide future Net Operating Income Growth. Irreplaceable Location – With visibility and access this will make this a secure, long-term real estate investment.
40
40
successful investor: Institutional Quality Asset – Built in 2000 and maintained to the highest standards, Summit III at Cedar Bluff features attractive architectural features.
KNOXVILLE
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: SEAN W. PATRICK,CCIM Ackerman & Co. 770.913.3946 | [email protected]
ROGER M. MOORE, JR., SIOR Sperry Van Ness | R.M. Moore, LLC 865.531.6400 | [email protected]
©2015 All rights reserved.
TN LIC # 00260388
Summit III at Cedar Bluff Knoxville, Tennessee
100% leased stabilized class “A” multi-tenant office investment Credit rent roll with AT&T, Comcast, Earthlink and Mednax
SUMMIT III BUILDING AT CEDAR BLUFF
Ackerman & Co. and Sperry Van Ness | R.M. Moore LLC, as exclusive agents to the seller, are pleased to present the Summit III Office Building (the “Property”) to qualified owners and investors. The Property, built in 2000, is a class “A” multi-tenant office building located at 410 N Cedar Bluff Rd in Knoxville, Tennessee. The Property is visible from I-40 and easily accessible from the Cedar Bluff exit. When compared to other competing properties within the submarket, the Property is generally superior in almost all aspects including appearance, quality of construction and is one of the few true class “A” assets located in this submarket. The Property’s intrinsic value will continue to be secured by its professional design, superior construction and an invaluable location.
OFFERING SUMMARY ADDRESS:
410 N Cedar Bluff Rd
SIZE:
56,187 SF
YEAR BUILT:
2000
NUMBER OF FLOORS:
4
SURFACE PARKING:
206 (3.67 per 1,000 RSF)
NUMBER OF TENANTS:
7
OFFERING PRICE:
$8,300,000
PSF:
$147 PSF
YEAR-ONE NOI:
$671,077
OCCUPANCY RATE:
100%
DEBT STRUCTURE:
Must be assumed (see debt summary)
2
SUMMIT III BUILDING AT CEDAR BLUFF
3
Located strategically in the heart of the Cedar Bluff submarket, this class “A“ mid-rise office property offers the following benefits to the
24 40
40
Below Replacement Cost Opportunity – Summit III at Cedar Bluff can be acquired at a price far below the cost to construct a new class “A” office property in East Tennessee. Superior Demographics – Surrounded by a dense affluent population where likely business owners and decisions makers live and desire office space close to home.
SUMMIT III BUILDING 410 N CEDAR BLUFF RD KNOXVILLE, TN
CROSS PAR K DR
EXECUTIVE PARK DR
Strong Credit Rent Roll – Tenants include AT&T, Comcast and Earthlink, investment grade tenants. Other tenants like Pattison Sign Group, Insphere Insurance and Mednax are large national firms.
UFF RD N C E DA R B L
75
75
65
Appreciation Through Rent Growth – Most leases have built in escalations to provide future Net Operating Income Growth. Irreplaceable Location – With visibility and access this will make this a secure, long-term real estate investment.
40
40
successful investor: Institutional Quality Asset – Built in 2000 and maintained to the highest standards, Summit III at Cedar Bluff features attractive architectural features.
KNOXVILLE
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: SEAN W. PATRICK,CCIM Ackerman & Co. 770.913.3946 | [email protected]
ROGER M. MOORE, JR., SIOR Sperry Van Ness | R.M. Moore, LLC 865.531.6400 | [email protected]
©2015 All rights reserved.
TN LIC # 00260388
