Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Southside Development Opportunity Title is generated by Realmo AI

    1240 E Main Street, Chattanooga, TN 37408

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,350,000

    Unique development opportunity at Main & Holtzclaw in Chattanooga.

    Type:Land
    Property size:
    1 SF
    Price / SF:
    $1,350,000/SF
    Added:
    Nov 21, 2025
    Days on Market:
    183
    Last Refresh:
    Apr 5 at 10:33 pm

    Property Features for 1240 E Main Street

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Jeff Jennings, CCIM
    Jeff Jennings, CCIM

    Listing agent Jeff Jennings, CCIM License #295488

    Listing office NAI Charter Real Estate

    Listing date Nov 21, 2025

    Source Naiglobal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Charter Real Estate

    HighLights

    • Prime Southside development opportunity at the intersection of Main & Holtzclaw.
    • UGC zoning allows for a two to four story building development.
    • Conceptual layouts from H&K architects are included.
    • Property is entirely above the 100‑year flood.
    • Adjacent to the upcoming Park Central Lofts development by MiKen, featuring condos priced from $300,000 - $600,000.
    • Close proximity to 33,000 sf of commercial space occupied by the Austin Hatcher Foundation and an additional 25,000 sf of commercial space.

    Overview

    This unique Southside development opportunity is located at the intersection of Main Street and Holtzclaw Avenue in Chattanooga. The UGC zoning currently allows for a two-story minimum up to a four-story maximum development, with the building to be developed on the road frontage. Conceptual layouts of the site, drafted by H&K architects, are available in the marketing package. The entire 1-acre property is above the 100-year flood. A Nashville-based developer, MiKen, will be developing Park Central Lofts just south of the subject property on Holtzclaw. This residential development will feature condos priced from $300,000 to $600,000. In addition, there will be 33,000 square feet of commercial space occupied by the Austin Hatcher Foundation, as well as 25,000 square feet more of commercial space.
    Property Profile Location Intelligence

    Current Use by Public Records

    ModWash Car Wash

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.2887
    Latitude
    35.0286

    Nearby Similar for Sale

    • $1,350,000
      9,800 SF

      Fully Leased Retail Investment Plaza

      High-visibility location with strong cash flow in Chattanooga, TN.
      5805 Lee Hwy, CHATTANOOGA, TN 37421
      View Details
    • $2,000,000
      11,262 SF

      Prime Commercial Space in Chattanooga

      Versatile commercial property on Dayton Boulevard, Chattanooga.
      3920 Dayton Boulevard, Chattanooga, TN 37415
      View Details
    • $449,900
      2,700 SF

      East Brainerd Income Producing Duplex

      Income-producing duplex in desirable East Brainerd location with strong rental potential.
      1422 Stratton Place Drive, Chattanooga, TN 37421
      View Details
    • $579,900
      4,402 SF

      Chattanooga Quadplex: Value-Add Investment

      Value-add quadplex with new roof and income potential.
      1500 Keeble Street, Chattanooga, TN 37412
      View Details
    • $550,000
      3,216 SF

      Updated Duplex on Missionary Ridge

      Turnkey investment: updated duplex near downtown Chattanooga with immediate income.
      311 E View Drive, Chattanooga, TN 37404
      View Details
    • $359,000
      1,919 SF

      Versatile Commercial Property, Chattanooga, TN

      High-visibility commercial property with office space and parking.
      1507 Maxwell Road, Chattanooga, TN 37412
      View Details
    • $2,000,000

      Commercial Building in Chattanooga, TN

      Commercial building for sale in Chattanooga, Tennessee.
      3920 Dayton Blvd, Chattanooga, TN 37415
      View Details
    • $599,000

      Development Opportunity Near Signal Mountain

      2.83-acre vacant lot with development potential near downtown Chattanooga.
      1161 Mountain Creek Road, Chattanooga, TN 37405
      View Details
    • $300,500

      Level Lot in Bozentown

      Level lot in growing area, potential for commercial zoning.
      2610 Benton Avenue, Chattanooga, TN 37406
      View Details
    • $585,000
      3,120 SF

      Newer Duplex Near Downtown Chattanooga

      Turnkey income-producing duplex built in 2023, averaging $6,631/month gross.
      4514/ 4516 Oakland Avenue, Chattanooga, TN 37410
      View Details
    • $389,000
      3,340 SF

      Chattanooga Triplex Investment Opportunity

      Commercially zoned triplex with strong rental income in Chattanooga.
      6625 Vaden Drive, Chattanooga, TN 37421
      View Details
    • $1,200,000

      Prime Land on East Brainerd

      3.15 acres of prime land with endless possibilities.
      8528 E Brainerd Road, Chattanooga, TN 37421
      View Details

    FAQs

    What type of property is this?
    Land - Unique development opportunity at Main & Holtzclaw in Chattanooga.
    Where is this land located?
    The property is located at 1240 E Main Street Chattanooga, TN.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Prime Southside development opportunity at the intersection of Main & Holtzclaw.; UGC zoning allows for a two to four story building development.; Conceptual layouts from H&K architects are included.
    (423) 267-6549
    We can help!
    Listing Contact
    Jeff Jennings, CCIM
    Jeff Jennings, CCIM
    Real Estate License ID: 295488
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1240 E Main Street, Chattanooga, TN 37408
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!