Retail

SunTrust - 3rd St. - Chattanooga, TN

2201 E 3rd St Chattanooga, TN United States 37404-2717
Asking Price
Sq. Footage 2,397
NOI Net Operating Income
Cap Rate 6.25%

Attributes

Year Built 1981
Lease Type NNN
Lease Expiration 2028-09-30
Remaining Term 8 years, 8 months
Tenant SUNTRUST BANKS, Incorporated
Guarantor SUNTRUST BANKS, Incorporated
Lot Size 0.71 ACRES

Property Description

SunTrust Bank location for sale in Chattanooga, Tennessee. The property is a freestanding retail building that is tenanted by SunTrust Bank and is corporately guaranteed by SunTrust Banks, Inc. (NYSE: STI). The tenant is on an absolute NNN lease with 10.5 years of lease term remaining. The property is strategically positioned at the intersection of East 3rd Street and Dodson Avenue in a dense urban location, with a large population base in its immediate vicinity. The property has also had upward-trending deposits over the past 4 years, increasing by 22% since 2014. 

Investment Highlights

  • Fee simple interest of 100%
  • Absolute NNN Lease with Over 10 Years of Term Remaining
  • Corporate Guarantee leased to an investment grade tenant (S&P: A-)
  • Close proximity to two major medical centers and University of Tennessee 
  • Excellent 1031 Exchange Option at low price point
  • Location in income tax free state
  • Improving deposit base as reported to the FDIC.                                                         
Peter Bauman
Peter Bauman
SVP, Capital Markets
Licensed in
AZ - SA647389000 NV-186153
Russ Westlake
Russ Westlake
Managing Director
Licensed in
MS - 18528 TN - 255841

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