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Single-Tenant Office

Family Resource Agency, Inc.

3680 Michigan Ave Rd NE, Cleveland, TN 37323

Listing Price: $1,300,000

Cap Rate
7.31%
Tenant Name
Family Resource Agency, Inc.
Years Remaining On Lease
8.5
Gross SF
12,496
Rentable SF
12,496
Price/Gross SF
$104.03
Lease Type
Double Net
Rent Per Square Feet
$7.60

Investment Overview

Marcus & Millichap is pleased to present this Family Resource Agency, Inc. property located in Cleveland, Tennessee. The subject property is a 12,496-square-foot facility sitting on 2.32 acres located on Michigan Avenue Road Northeast. Family Resource Agency, Inc. has occupied this building since 2013, and there are approximately eight and one-half years remaining on the lease. This opportunity allows an investor to enjoy a strong yield with minimal landlord responsibilities.

Family Resource Agency, Inc. is a nonprofit organization in Cleveland, Tennessee which assesses the needs of its families a minimum of three times per year in the following categories: housing, safety, health, transportation, financial security, child development/parenting, family education at home, education/training and life goals, transitions, families and communities, and leadership/advocacy.

Cleveland is the county seat and largest city in Bradley County, and the principal city of the Cleveland, Tennessee metropolitan area. The Cleveland/Bradley County area is home to 13 Fortune 500 companies with a workforce that manifests a strong work ethic. From Hardwick Clothes, Americas oldest tailor-made clothing maker, to Duracell, sole producer of C-cell and D-cell batteries for the Duracell brand, Cleveland is replete with industries that may not have just existed but thrived in the community for decades. Others widely recognized include Mars Chocolate North America, Whirlpool Corporation, Lonza (formerly Arch Chemicals, Olin Corporation, and Bayer (formerly Merck). Newer members of the existing industry base include Whacker Polysilicon, the worlds second-largest producer of polysilicon, Amazon, and Eastern Lighting Distribution Center, a distribution warehouse for GE Consumer & Industrials lighting unit.

Investment Highlights

  • Priced at Assessed Value
  • Over Eight Years of Lease Term Remaining
  • Family Resource Agency, Inc. is a Nonprofit Specializing in Childhood Development
  • Tenant Receives Significant State and Federal Support
  • Strong Population Growth of Over 11% Since 2010
  • No State Income Tax in Tennessee

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Single-Tenant Office

Family Resource Agency, Inc.

Listing Price: $1,300,000

Cap Rate
7.31%
Tenant Name
Family Resource Agency, Inc.
Years Remaining On Lease
8.5
Gross SF
12,496
Rentable SF
12,496
Price/Gross SF
$104.03
Lease Type
Double Net
Rent Per Square Feet
$7.60

Investment Highlights

  • Priced at Assessed Value
  • Over Eight Years of Lease Term Remaining
  • Family Resource Agency, Inc. is a Nonprofit Specializing in Childhood Development
  • Tenant Receives Significant State and Federal Support
  • Strong Population Growth of Over 11% Since 2010
  • No State Income Tax in Tennessee

Investment Overview

Marcus & Millichap is pleased to present this Family Resource Agency, Inc. property located in Cleveland, Tennessee. The subject property is a 12,496-square-foot facility sitting on 2.32 acres located on Michigan Avenue Road Northeast. Family Resource Agency, Inc. has occupied this building since 2013, and there are approximately eight and one-half years remaining on the lease. This opportunity allows an investor to enjoy a strong yield with minimal landlord responsibilities.

Family Resource Agency, Inc. is a nonprofit organization in Cleveland, Tennessee which assesses the needs of its families a minimum of three times per year in the following categories: housing, safety, health, transportation, financial security, child development/parenting, family education at home, education/training and life goals, transitions, families and communities, and leadership/advocacy.

Cleveland is the county seat and largest city in Bradley County, and the principal city of the Cleveland, Tennessee metropolitan area. The Cleveland/Bradley County area is home to 13 Fortune 500 companies with a workforce that manifests a strong work ethic. From Hardwick Clothes, Americas oldest tailor-made clothing maker, to Duracell, sole producer of C-cell and D-cell batteries for the Duracell brand, Cleveland is replete with industries that may not have just existed but thrived in the community for decades. Others widely recognized include Mars Chocolate North America, Whirlpool Corporation, Lonza (formerly Arch Chemicals, Olin Corporation, and Bayer (formerly Merck). Newer members of the existing industry base include Whacker Polysilicon, the worlds second-largest producer of polysilicon, Amazon, and Eastern Lighting Distribution Center, a distribution warehouse for GE Consumer & Industrials lighting unit.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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