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    Chattanooga Triplex Investment Opportunity Title is generated by Realmo AI

    6625 Vaden Drive, Chattanooga, TN 37421

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    Picture of Triplexes at 6625 Vaden Drive, Chattanooga, TN
    Pending
    $389,000

    MULTI_FAMILY - Chattanooga, TN

    Property size:
    3,340 SF
    Lot size:
    0.28 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 6625 Vaden Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bedroom 2, Bedroom 5, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Basement, Bedroom 1, Bathroom 1
    Parking features
    Driveway
    Patio and Porch features
    Deck, Patio
    Interior features
    Eat-in Kitchen, Open Floorplan, Storage
    Basement
    Finished
    Standard status
    Pending
    APN
    148f C 013
    Size
    3,340 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Description
    LT 3 CARR TRACT PB21 PG48
    Tax Annual Amount
    4241

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1999
    Floors in Building
    2
    Number of units
    3
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jonathan D Lickliter

    Listing agent Jonathan D Lickliter License #336975

    Listing office simpliHOM 5407 Hixson Pike Ste 113, Hixson, TN

    Listing date Apr 10, 2026

    MLS# 1532301 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.

    HighLights

    • High income potential: Property is 100% occupied with a gross monthly income of $2,800.
    • Zoned commercial for triplex: Offers flexibility for investment or owner‑occupancy with rental income.
    • Spacious top‑level unit: Features 1670 sq. ft., 3/4 bedrooms, 2 full bathrooms, and hardwood floors.
    • Two additional rental units: Includes two 1‑bedroom apartments in the basement, each with a full bath, kitchen, and living room.
    • Recent upgrades: New roof installed in 2019 and newer vinyl windows.
    • Separate utilities: Equipped with 3 electric meters and 3 separate heat pumps.

    Overview

    This commercially zoned triplex in Chattanooga presents a significant investment opportunity. The property is fully occupied and features a top-level unit with 1670 square feet, containing 3 to 4 bedrooms, 2 full bathrooms, a combined living and dining area, a large eat-in kitchen with ample cabinet space, a den, and a laundry room. Hardwood floors are present in the bedrooms, hallway, and den. A large deck and storage building are located in the backyard and remain with the property. The lower level houses two apartments, each with 1 bedroom, 1 full bath, an eat-in kitchen, a living room, and laundry hook-ups. The gross monthly income is $2,800. The property includes newer vinyl windows, 3 electric meters, 3 separate heat pumps, and 1 water meter. A new roof was installed in 2019. The top unit is rented for $1,200.00, and each of the lower-level apartments is rented for $800 per unit. The property size is 3340 square feet and the lot size is 0.28 acres.

    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 $50.1k $15.00
    − Vacancy −$3.3k −$0.98
    EGI $46.8k $14.03
    − OpEx −$14.1k −$4.21
    NOI $32.8k $9.82
    3,340 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $468.4K
    $409.9K – $546.5K (±1% cap)
    NOI $32,790 @ 7.0% cap · market cap 8.43%
    Second Best
    Apartment 5plus
    $420.3K
    $367.8K – $490.4K (±1% cap)
    NOI $29,424 @ 7.0% cap · market cap 7.56%
    Theoretical Best
    Office A
    $737.7K
    $645.5K – $860.6K (±1% cap)
    NOI $51,636 @ 7.0% cap · market cap 13.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.169456
    Latitude
    35.042595

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    FAQs

    What type of property is this?
    Triplex - Commercially zoned triplex with strong rental income in Chattanooga.
    Where is this triplex located?
    The property is located at 6625 Vaden Drive Chattanooga, TN.
    What is the asking price?
    The asking price for this property is $389,000.
    What are key features of this property?
    This property features: High income potential: Property is 100% occupied with a gross monthly income of $2,800.; Zoned commercial for triplex: Offers flexibility for investment or owner‑occupancy with rental income.; Spacious top‑level unit: Features 1670 sq. ft., 3/4 bedrooms, 2 full bathrooms, and hardwood floors.
    (423) 790-4333
    We can help!
    Listing Contact
    Jonathan D Lickliter
    Real Estate License ID: 336975
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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
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