212 Gillespie Road, Chattanooga, TN 37411
MULTI_FAMILY - Chattanooga, TN
- Added:
- Feb 16, 2026
- Days on Market:
- 120
- Last Refresh:
- Jun 16 at 1:06 pm
Property Features for 212 Gillespie Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 5
- Rooms
- Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2
- Parking features
- Off Street
- Appliances
- Refrigerator, Electric Range
- Standard status
- Active
- APN
- 157a E 002
- Size
- 1,664 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- Lt 2 Pt 21 Brantlys Sub Pb 4 Pg 1
- Tax Annual Amount
- 2262
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1979
- Number of units
- 2
- Roof type
- Shingle
Listing agent Gerald Mitchell License #250910 (423) 320-6809
Listing office Chattanooga Real Estate Co 1208 Pointe Centre Dr Ste 216, Chattanooga, TN (423) 894-3050
Listing date Feb 16, 2026
Copyright © 2026 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.
HighLights
- Vacant and remodeled unit (Side B) ready for a new tenant
- $10,000 decoration allowance for Side A
- Potential for increased rental income
- Convenient location on the transit line, close to downtown and shopping malls
- Roof approximately 5 years old
- Each unit features 2 bedrooms and 1.5 bathrooms
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.0k | $15.00 |
| − Vacancy | −$1.6k | −$0.98 |
| EGI | $23.3k | $14.03 |
| − OpEx | −$7.0k | −$4.21 |
| NOI | $16.3k | $9.82 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.243821
- Latitude
- 35.026752
