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    309 Barnhardt Cir Fort Oglethorpe, GA 30742

    Sponsored
    For Sale
    $850,000

    MULTI_FAMILY - Victorian - Fort Oglethorpe, GA

    Property size:
    5,004 SF
    Lot size:
    0.40 Acres
    Days on Market:
    22
    Last Refresh:
    Jan 20 at 2:06 am

    Property Features for 309 Barnhardt Cir

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Basement, Bedroom 4, Bathroom 3, Bathroom 7, Bathroom 4, Bathroom 6, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2
    Bedrooms
    4
    APN
    0003i-001
    Parking features
    Driveway, Parking Lot, Assigned
    Patio and Porch features
    Porch
    Pets allowed
    Cats OK, Yes
    Interior features
    Ceiling Fan(s), Chandelier, Crown Molding, High Ceilings
    Fireplace
    1
    Basement
    Unfinished, Partially Finished
    Appliances
    Water Heater, Washer, Refrigerator, Microwave, Free-Standing Gas Range, Electric Water Heater, Electric Oven, Dryer, Disposal, Dishwasher
    Size
    5,004 SF
    Lot size
    0.40 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Attic Fan, Ceiling Fan(s), Electric
    Water source
    Public

    Building Details

    Year built
    1915
    Floors in Building
    2
    Number of units
    7
    Flooring type
    Tile, Hardwood
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Jan E Lambert
    Jan E Lambert

    RE/MAX Properties (423) 894-2900 [email protected]

    Listing agent Jan E Lambert (423) 894-2900 License #315881

    Listing date Dec 30, 2025

    MLS# 1520456 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Multifamily Investment Opportunity

    Located on historic Barnhardt Circle, this seven-unit multifamily property features four one-bedroom apartments and three studio homes. The well-maintained complex is near the 9000+ acre Chickamauga Battlefield and was the original Band Barracks that could house 28 members, lighted in 1920. The center fields of Barnhardt Circle were historically used for cavalry training and polo matches. All units are currently occupied. The property is near shopping and dining in Fort Oglethorpe, and not far from Rossville and Chickamauga. Additional build-out opportunities exist in the large attic and basement. The gross annual rent is currently over $90,000. There is potential to increase rents by adding washer/dryers in units. Currently, washer/dryers are in the basement area. There is a strong demand for tenants in this historic location. There is plenty of parking in the back and off-street parking, and a covered front porch area. The property combines stable cash flow with a desirable walkable historic district. The property is zoned Residential, R3. The lot size is 0.4 acres, and the property size is 5004 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Oglethorpe
    County
    Catoosa
    State
    Georgia
    Longitude
    -85.261997
    Latitude
    34.945738

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    FAQs

    What type of property is this?
    Apartment building - Seven-unit multifamily property in a desirable historic district.
    Where is this apartment building located?
    The property is located at 309 Barnhardt Cir Fort Oglethorpe, GA.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Historic 7-unit multi-family property with a strong tenant demand in a desirable, walkable historic district.; - Gross annual rent over $90,000 with potential to increase rents by adding washer/dryers in units.; - Located steps from the 9000+ acre Chickamauga Battlefield, originally the Band Barracks.
    (423) 544-4005
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    309 Barnhardt Cir Fort Oglethorpe, GA 30742
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    Fort Oglethorpe, GA 30742
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    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
    309 Barnhardt Cir Fort Oglethorpe, GA 30742
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    We can help!
    Listing Contact
    Jan E Lambert
    Jan E Lambert
    Real Estate License ID: 315881
    (423) 544-4005
    Learn more
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