Remodeled Duplex Near
For Sale
$250,000
212 Gillespie Rd, Chattanooga, TN 37411
Two-unit residential property with one remodeled vacancy and one occupied unit near transit, downtown, and shopping malls.
Property Size1,664 SF
Price / SF$150.24
Days on Market78
Property Features for 212 Gillespie Rd
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Unit Mix
2BR/1.5BA
Building Details
Year Built
1979
Listing Agency:
Chattanooga Real Estate Co
Listed By:
Gerald Mitchell · License #250910
(423) 894-3050
Source:
Weathersbeerealty
Added: Aug 1
Changed: Oct 4
Last Checked: Oct 7 at 2:36PM
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 Chattanooga Real Estate Co
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Investment Insights
Based on property information with market context.
This 1,664-square-foot duplex was built in 1979 and includes two residential units. Each unit has two bedrooms and one-and-a-half baths. One side is vacant and remodeled, while the other is occupied. The property also has a roof approximately 5 years old.
Located on the transit line, the duplex is close to downtown and shopping malls. The occupied unit requires advance notice for showings.
Located on the transit line, the duplex is close to downtown and shopping malls. The occupied unit requires advance notice for showings.
Key Highlights
- 1,664‑square‑foot duplex built in 1979
- Two units, each with 2 bedrooms and 1.5 baths
- One unit is vacant and remodeled; the other is occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,336
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,720
$326.7K
Cap Rate 7%
$233,371
$233.4K
Cap Rate 9%
$181,511
$181.5K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$25.0K $15.00/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$23.3K $14.03/SF
− OpEx
−$7.0K −$4.21/SF
NOI
$16.3K $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 Rate 5%
$326,720
Cap Rate 7%
$233,371
Cap Rate 9%
$181,511
Alternative Uses
Best Use
Multifamily LT 5
$233.4K
$204.2K – $272.3K
NOI $16,336 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$209.4K
$183.2K – $244.3K
NOI $14,659 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$367.5K
$321.6K – $428.8K
NOI $25,725 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 37411, TN
17,499
Population
8,807
Households
2
Avg Household Size
40
Median Age
29%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
2,397
Density / Sq Mi
$50,180
Median Household Income
$34,045
Median Earnings
$1,031
Median Rent
$216,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one remodeled vacancy and one occupied unit near transit, downtown, and shopping malls.
Where is this duplex located?
The property is located at 212 Gillespie Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,664‑square‑foot duplex built in 1979; Two units, each with 2 bedrooms and 1.5 baths; One unit is vacant and remodeled; the other is occupied
