Quadplex with New
For Sale
$579,900
1500 Keeble St, Chattanooga, TN 37412
Four-unit property with mixed occupancy and a recently installed roof.
Property Size4,402 SF
Price / SF$131.74
Days on Market40
Property Features for 1500 Keeble St
General Information
Standard status
Active
Size
4,402 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1955
Listing Agency:
Keller Williams Realty
(803) 448-8340
Listed By:
Rana K Clark · License #TN356685
Source:
Weathersbeerealty
Added: Jul 22
Changed: Aug 29
Last Checked: Aug 29 at 2:45PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 4,402-square-foot quadplex, built in 1955, contains four residential units with a mix of tenant-occupied and vacant residences. A recently installed roof is among the property’s documented improvements. The vacant units can be considered for leasing or renovation, while the occupied units remain part of the existing property configuration.
The property is located at 1500 Keeble St in Chattanooga, Tennessee. The surrounding location is described as providing access to shopping, dining, major highways, and public transit. Buyers should independently verify unit condition, occupancy details, permitted uses, and other property characteristics important to their evaluation.
The property is located at 1500 Keeble St in Chattanooga, Tennessee. The surrounding location is described as providing access to shopping, dining, major highways, and public transit. Buyers should independently verify unit condition, occupancy details, permitted uses, and other property characteristics important to their evaluation.
Key Highlights
- 4,402‑square‑foot quadplex with four residential units
- Recently installed roof
- Mixed occupancy includes tenant‑occupied and vacant units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,217
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$864,340
$864.3K
Cap Rate 7%
$617,386
$617.4K
Cap Rate 9%
$480,189
$480.2K
Market Conditions
NOI Build-Up for 4,402 SF
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.
Gross rent
$66.0K $15.00/SF
− Vacancy
−$4.3K −$0.98/SF
EGI
$61.7K $14.03/SF
− OpEx
−$18.5K −$4.21/SF
NOI
$43.2K $9.82/SF
Area
Chattanooga, TN
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$864,340
Cap Rate 7%
$617,386
Cap Rate 9%
$480,189
Alternative Uses
Best Use
Multifamily LT 5
$617.4K
$540.2K – $720.3K
NOI $43,217 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$554.0K
$484.8K – $646.3K
NOI $38,780 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$972.2K
$850.7K – $1.13M
NOI $68,054 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with mixed occupancy and a recently installed roof.
Where is this quadplex located?
The property is located at 1500 Keeble St Chattanooga, TN.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: 4,402‑square‑foot quadplex with four residential units; Recently installed roof; Mixed occupancy includes tenant‑occupied and vacant units
