Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1009 Reads Lake Rd Chattanooga, TN 37415

    Sponsored
    For Sale
    $289,000

    LAND - Chattanooga, TN

    Lot size:
    0.66 Acres
    Days on Market:
    45
    Last Refresh:
    Feb 1 at 6:06 pm

    Property Features for 1009 Reads Lake Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-1
    APN
    108d A O2.06
    Lot size
    0.66 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    John G Martin

    Fletcher Bright Realty dba Fletcher Bright Company (423) 752-0188

    Listing agent John G Martin (423) 752-0188 License #213469

    Listing date Dec 19, 2025

    MLS# 1525436 Listing URL

    Copyright © 2025 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Land Near Walden's Ridge Park

    This residential land offers an opportunity to build a home adjacent to Walden's Ridge Park. The property is separated from the Hamilton County maintained trial system by a cobble stone stream, public green space, and a year-round spring. The 200-acre park features over 12 miles of trails for running, hiking, and biking, as well as established rock-climbing routes. The home sites are located at the base of Signal Mountain and offer views of sandstone bluff lines. The drive to Chattanooga's City center is 11 minutes away. The Reads Lake Rd neighborhood contains higher end homes nestled at the base of Signal Mountain and is a quiet, dead-end street. The property consists of partially wooded, level building sites ready for a home. The lot size is 0.66 acres. Lot corners and individual lot are in the process of being installed. The intended use of the property is residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Hotel & Motel Computer & Electronic Repair Veterinary Clinic Tech Support Center Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.306159
    Latitude
    35.137623

    Nearby Similar for Sale

    • $345,000
      3,510 SF

      Well-Maintained Duplex in Growing Area

      Low-maintenance duplex in Chattanooga with strong rental demand.
      3634 Helen Ln, Chattanooga, TN 37412
      View Details
    • $800,000
      3,436 SF

      Rebuilt Quadplex with Expansion Potential

      Four-unit multifamily property rebuilt with modern finishes and expansion potential.
      314 E View Dr, Chattanooga, TN 37404
      View Details
    • $1,700,000
      2,132 SF

      Chattanooga Multifamily Investment Opportunity

      Four homes in rapidly growing South Broad community.
      3307+ Aberdeen Row, Chattanooga, TN 37410
      View Details
    • $585,000
      2,218 SF

      Chattanooga Multifamily Investment Opportunity

      Income-producing triplex in Chattanooga's Northshore, near amenities and parks.
      407 Colville St, Chattanooga, TN 37405
      View Details
    • $359,000
      1,919 SF

      Versatile Commercial Property, Chattanooga, TN

      High-visibility commercial property with office space and parking.
      1507 Maxwell Rd, Chattanooga, TN 37412
      View Details
    • $289,000
      Pending

      Chattanooga Duplex Near Highway 58

      Well-maintained duplex near restaurants and shopping with income potential.
      4607 Murray Lake Ln, Chattanooga, TN 37416
      View Details
    • $285,000
      Pending

      Renovated Duplex Near Downtown Chattanooga

      Fully renovated duplex, move-in ready, excellent income potential.
      392 Booth Rd, Chattanooga, TN 37411
      View Details
    • New
      $519,900
      2,319 SF

      Versatile Triplex in Chattanooga's Northshore

      Three-unit property in Chattanooga's desirable North Shore area.
      746 Curve St, Chattanooga, TN 37405
      View Details
    • $225,000
      Pending

      Updated Duplex in Highland Park

      Updated duplex in Chattanooga's Highland Park neighborhood, near Southside.
      1812 E 13Th St, Chattanooga, TN 37404
      View Details
    • $265,000
      Pending

      Duplex in Desirable Chattanooga Area

      Two-unit property with recent updates, ideal for investment portfolio.
      5041 Shoals Ln, Chattanooga, TN 37416
      View Details
    • $265,000
      Pending

      Chattanooga Duplex For Sale

      Duplex in sought-after area with fresh updates, ideal for portfolio.
      5041 Shoals Ln, Chattanooga, TN 37416
      View Details
    • $1,250,000
      Pending

      Chattanooga Multifamily Investment Opportunity

      Ten-unit multifamily property on 3+ acres near downtown Chattanooga.
      911 Lullwater Rd, Chattanooga, TN 37405
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land near park with mountain biking and rock-climbing.
    Where is this residential land & home lot located?
    The property is located at 1009 Reads Lake Rd Chattanooga, TN.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: - Direct access to Walden's Ridge Park (200+ acres) with extensive trail system for hiking, biking, and rock climbing.; - Conveniently located 11 minutes from downtown Chattanooga.; - Private, level building sites ready for construction.
    (423) 903-2450
    Request Owner's contact information
    1009 Reads Lake Rd Chattanooga, TN 37415
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1009 Reads Lake Rd
    Chattanooga, TN 37415
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1009 Reads Lake Rd Chattanooga, TN 37415
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John G Martin
    Real Estate License ID: 213469
    (423) 903-2450
    Learn more
    Google sign-in failed. Please try again or use another login method.