Renovated Storefront
For Sale
$795,000
2437 Glass Street, Chattanooga, TN 37406
COMMERCIAL - Chattanooga, TN
Property Size8,358 SF
Lot Size0.11 Acres
Price / SF$95.12
Days on Market719
Property Features for 2437 Glass Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Parking features
Parking Lot, On Street
Interior features
Storage, Open Floorplan
Lot features
Split Possible, Near Public Transit, Corner Lot, Split Possible, Near Public Transit, Corner Lot
Elementary school
Hardy Elementary
Middle school
Orchard Knob
High school
Brainerd
Directions
At Exit 5B, head on the ramp right and follow signs for TN-17 South Pass Affordable Towing & Salvage in 1.0 mi Turn right to stay on Glass St / TN-17 Arrive at Glass St / TN-17 The last intersection before your destination is N Chamberlain Ave If you reach Wheeler Ave, you've gone too far
Standard status
Active
APN
137a N 015
Size
8,358 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1683
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1917
Flooring type
Carpet
Building materials
Block, Brick Veneer, Concrete
Roof type
Flat
Additional Structures
Storage
Listing Agency:
Bridge Real Estate Group
(423) 479-8721
Listed By:
Cristy Schuch · License #351771
(423) 650-6856
Added: Sep 4, 2024
Changed: Aug 16
Last Checked: Aug 23 at 1:06AM
MLS# 20243885
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,358-square-foot storefront property occupies a 0.11-acre parcel and includes an open floorplan, storage, block, brick veneer, and concrete construction. Central Air, carpet, a flat roof, and parking in a lot and along the street are among the existing features. The property was built in 1917 and is designated Commercial zoning.
Building improvements completed in 2014 included windows, plumbing, electrical work, drainage-line relining, roof repairs, masonry stabilization, roof supports, insulation, lighting, a drop ceiling, carpet, HVAC, a corner door, and pull-down metal security doors. A new roof was added to one portion in 2016. Work completed in 2022 at 2437 Glass Street included windows, lead abatement, masonry stabilization, debris removal to a concrete slab or dirt floor, and another new roof.
An opening at the rear provides potential for dock or loading access. Public water and sewer serve the property, and cable is available.
Building improvements completed in 2014 included windows, plumbing, electrical work, drainage-line relining, roof repairs, masonry stabilization, roof supports, insulation, lighting, a drop ceiling, carpet, HVAC, a corner door, and pull-down metal security doors. A new roof was added to one portion in 2016. Work completed in 2022 at 2437 Glass Street included windows, lead abatement, masonry stabilization, debris removal to a concrete slab or dirt floor, and another new roof.
An opening at the rear provides potential for dock or loading access. Public water and sewer serve the property, and cable is available.
Key Highlights
- 8,358‑square‑foot storefront property on a 0.11‑acre parcel
- Commercial zoning with open floorplan and storage
- 2014 improvements included HVAC, electrical, plumbing, windows, insulation, and masonry stabilization
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
$64,591
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
8.12%
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%
$1,291,820
$1.3M
Cap Rate 7%
$922,729
$922.7K
Cap Rate 9%
$717,678
$717.7K
Market Conditions
NOI Build-Up for 8,358 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
$100.3K $12.00/SF
− Vacancy
−$8.0K −$0.96/SF
EGI
$92.3K $11.04/SF
− OpEx
−$27.7K −$3.31/SF
NOI
$64.6K $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%
$1,291,820
Cap Rate 7%
$922,729
Cap Rate 9%
$717,678
Alternative Uses
Best Use
Retail
$922.7K
$807.4K – $1.08M
NOI $64,591 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,213 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Storefront property - Commercially zoned property with open interior space, storage, public utilities, and parking lot access.
Where is this storefront property located?
The property is located at 2437 Glass Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 8,358‑square‑foot storefront property on a 0.11‑acre parcel; Commercial zoning with open floorplan and storage; 2014 improvements included HVAC, electrical, plumbing, windows, insulation, and masonry stabilization
