Character-Driven Commercial Storefront
For Sale
Contact for pricing
2432 Glass St, Chattanooga, TN 37406
Authentic industrial storefront on Glass Street corridor, Chattanooga.
Property Size4,988 SF
Price / SF$118.28
Days on Market169
Property Features for 2432 Glass St
General Information
Standard status
Active
Size
4,988 SF
Class
B
Property subtype
Mixed Use, Office, Retail
Zoning
C-2
Occupancy
100%
Building Details
Year Built
1920
Year Renovated
2023
Buildings
1
Stories
1
Units
2
Listing Agency:
KW Commercial Chattanooga - Downtown
Listed By:
Brockman Missel · License #TN 358225
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 10 at 2:55PM
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 KW Commercial Chattanooga - Downtown
Investment Insights
Based on property information with market context.
This brick storefront, situated along the Glass Street corridor, presents an authentic industrial aesthetic. The space features exposed brick walls, steel trusses, soaring ceilings, polished concrete floors, and expansive storefront glass that fills the interior with natural light. The open floor plan provides flexibility for retail, creative office, studio, gallery, fitness, nonprofit, or event-driven concepts. The industrial ceiling height and exposed structural elements create an architectural backdrop suited for experiential and community-focused operators. Front-facing glass doors deliver direct pedestrian access and visibility along the corridor, while the open interior configuration allows for adaptable buildout depending on operational needs. The property, encompassing 4988 square feet, is suited for businesses seeking character, authenticity, and a neighborhood-serving presence in Chattanooga’s evolving urban core.
Key Highlights
- Authentic industrial aesthetic with exposed brick walls, steel trusses, and soaring ceilings.
- Expansive storefront glass providing natural light and street visibility.**
- Adaptable open floor plan suitable for various commercial uses (retail, office, studio, etc.).
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
$38,547
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
6.53%
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%
$770,940
$770.9K
Cap Rate 7%
$550,671
$550.7K
Cap Rate 9%
$428,300
$428.3K
Market Conditions
NOI Build-Up for 4,988 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
$59.9K $12.00/SF
− Vacancy
−$4.8K −$0.96/SF
EGI
$55.1K $11.04/SF
− OpEx
−$16.5K −$3.31/SF
NOI
$38.5K $7.73/SF
Area
Chattanooga, TN
Vacancy
8.00%
Lease Rate
$12.00 /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%
$770,940
Cap Rate 7%
$550,671
Cap Rate 9%
$428,300
Alternative Uses
Best Use
Mixed Use
$786.7K
$688.4K – $917.8K
NOI $55,068 @ 7.0% cap · market cap 9.33%
Second Best
Retail
$550.7K
$481.8K – $642.5K
NOI $38,547 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.10M
$963.9K – $1.29M
NOI $77,114 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
IGA
Groceries
3,465 visits/mo
0.2 miles
Demographics for 37406, TN
12,422
Population
5,894
Households
2.1
Avg Household Size
36
Median Age
16%
College-Educated
85%
High-School Grad
12.1 sq mi
ZIP Area
1,027
Density / Sq Mi
$42,993
Median Household Income
$31,076
Median Earnings
$944
Median Rent
$150,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Authentic industrial storefront on Glass Street corridor, Chattanooga.
Where is this mixed-use property located?
The property is located at 2432 Glass St Chattanooga, TN.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Authentic industrial aesthetic with **exposed brick walls, steel trusses, and soaring ceilings.**; Expansive storefront glass providing natural light and street visibility.**; Adaptable open floor plan suitable for various commercial uses (retail, office, studio, etc.).
