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    Restaurant Redevelopment Opportunity Title is generated by Realmo AI

    1461 N Mack Smith Rd, East Ridge, TN 37412

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    Redevelopment opportunity in East Ridge near Red Wolves Stadium.

    Type:Retail, Office, Restaurant
    Property size:
    5,000 SF
    Lot size:
    0.65 Acres
    Added:
    Feb 13, 2024
    Days on Market:
    843
    Last Refresh:
    May 12 at 9:40 pm

    Property Features for 1461 N Mack Smith Rd

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.65 Acres
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 1461 N Mack Smith Rd Contact us

    We can help!

    Listing Contact
    Judy Holley

    Listing agent Judy Holley License #TN 342355

    Listing office Crye-Leike, REALTORS

    Listing date Feb 13, 2024

    Source Crexi

    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 Crye-Leike, REALTORS

    HighLights

    • Prime location at the Gateway to the Red Wolves Stadium in a planned redevelopment area.
    • High visibility and easy access from I‑75 (Exit 1) and Ringgold Road at a signalized intersection.
    • Located in a high‑traffic area surrounded by hospitality, restaurants, and entertainment, with Cracker Barrel directly across the street.
    • Flexible options: ground lease of a .65 acre outparcel or build‑to‑suit opportunity on a 1.2 acre outparcel.
    • Versatile space suitable for various uses including retail, office, restaurant, medical, or specialty use with 1,250 - 5,000 SF available.
    • Located in the Border Region Zone with municipal improvements including road widening and walkways in progress.

    Overview

    Located in East Ridge, Tennessee, this property offers a 5,000-square-foot space suitable for restaurant redevelopment within the Mack Smith Center. The center is positioned at the gateway to the Red Wolves Stadium, in an area undergoing planned redevelopment and surrounded by hospitality, restaurants, and entertainment venues. The available lease space is located across from Cracker Barrel, between Fairfield Inn and Play it Again Sports. Scooter’s Coffee, Smoothy King, and Whataburger are upcoming additions to the area. The property is conveniently accessible at a signalized intersection with high visibility from Ringgold Road at Exit 1 off I-75, near the I-24 split, and is 15 minutes from Downtown Chattanooga. The owners are open to a ground lease of the approximately 0.65-acre outparcel or a build-to-suit arrangement. Zoned C-2, the property benefits from ongoing municipal improvements, including road widening and walkways. The property includes a 1.2-acre outparcel, presenting a build-to-suit opportunity within the Border Region Zone. Between 1,250 and 5,000 square feet is available for various uses, including retail, office, school, medical, specialty use, restaurant or ghost kitchen conversion, or professional offices such as loan, title, legal, or accounting firms. On-site parking is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    East Ridge
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.2090538
    Latitude
    34.9908619

    Nearby Similar for Lease

    • $10 SF/Yr
      96,600 SF

      East Ridge Retail Spaces Available

      Multiple retail spaces available in prime East Ridge location.
      6725 Ringgold, East Ridge, TN 37412
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near Chattanooga Hotspots

      Retail space in high-traffic area near Topgolf and Bass Pro.
      4340 Ringgold Rd, East Ridge, TN
      View Details
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      Retail Development at Jordan Crossing

      Retail, restaurant, and hotel spaces available in high-traffic development.
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      View Details

    FAQs

    What type of property is this?
    Retail space - Redevelopment opportunity in East Ridge near Red Wolves Stadium.
    Where is this retail space located?
    The property is located at 1461 N Mack Smith Rd East Ridge, TN.
    What are key features of this property?
    This property features: Prime location at the Gateway to the Red Wolves Stadium in a planned redevelopment area.; High visibility and easy access from I‑75 (Exit 1) and Ringgold Road at a signalized intersection.; Located in a high‑traffic area surrounded by hospitality, restaurants, and entertainment, with Cracker Barrel directly across the street.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Judy Holley
    Real Estate License ID: TN 342355
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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.

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