East Ridge Mixed-Use Commercial
For Sale
Contact for pricing
1509 MAXWELL RD, East Ridge, TN 37412
Versatile commercial property with office and garage space in East Ridge.
Property Size5,708 SF
Lot Size0.50 Acres
Price / SF$139.98
Days on Market100
Property Features for 1509 MAXWELL RD
General Information
Standard status
Active
Size
5,708 SF
Total Parking Spaces
25
Lot size
0.50 Acres
Property subtype
Office, Self Storage, Mixed Use
Investment Type
Owner/User
Building Details
Year Built
1950
Stories
1
Units
30
Listing Agency:
Exit Realty
(423) 664-1900
Listed By:
Jonathan Cambell · License #TN 291911
Source:
Crexi
Added: May 18
Changed: Aug 20
Last Checked: Aug 24 at 1:51PM
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 Exit Realty
Investment Insights
Based on property information with market context.
This mixed-use commercial property is located in East Ridge, situated on approximately 0.5 acres just off Ringgold Road. The property includes a 1,068± square foot freestanding office building suitable for administrative, retail, or client-facing operations. Behind the office is approximately 5,000± square feet of garage and shop space, providing room for automotive, storage, service, warehouse, or contractor operations. The property has parking and garage capacity for over 30 vehicles. The location along a commercial corridor offers traffic exposure and access to Chattanooga markets. The property is suitable for owner-users, investors, automotive businesses, contractors, or mixed-use commercial operations seeking flexible space. The total property size is 5,708 square feet.
Key Highlights
- Prime location on highly traveled Ringgold Road in East Ridge, offering excellent visibility and access.
- Versatile mixed‑use property suitable for various operations.
- Ample garage and shop space (nearly 5,000± SF) for various business needs.
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
$65,499
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
8.20%
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%
$1,309,980
$1.3M
Cap Rate 7%
$935,700
$935.7K
Cap Rate 9%
$727,767
$727.8K
Market Conditions
NOI Build-Up for 5,708 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
$102.7K $18.00/SF
− Vacancy
−$15.4K −$2.70/SF
EGI
$87.3K $15.30/SF
− OpEx
−$21.8K −$3.82/SF
NOI
$65.5K $11.48/SF
Area
Chattanooga, TN
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,309,980
Cap Rate 7%
$935,700
Cap Rate 9%
$727,767
Alternative Uses
Best Use
Office B
$935.7K
$818.7K – $1.09M
NOI $65,499 @ 7.0% cap · market cap 8.20%
Second Best
Mixed Use
$900.2K
$787.7K – $1.05M
NOI $63,016 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,245 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
674
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial property with office and garage space in East Ridge.
Where is this mixed-use property located?
The property is located at 1509 MAXWELL RD East Ridge, TN.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location on highly traveled Ringgold Road in East Ridge, offering excellent visibility and access.; Versatile mixed‑use property suitable for various operations.; Ample garage and shop space (nearly 5,000± SF) for various business needs.
