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    East Ridge Shopping Center Redevelopment Title is generated by Realmo AI

    3715 Ringgold Rd, East Ridge, TN 37412

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    Redevelopment opportunity near Food City with retail and office space.

    Type:Retail, Office
    Property size:
    40,000 SF
    Lot size:
    13.00 Acres
    Added:
    Mar 19, 2024
    Days on Market:
    809
    Last Refresh:
    May 12 at 8:26 pm

    Property Features for 3715 Ringgold Rd

    General Information

    Standard status
    Active
    Size
    40,000 SF
    Lot size
    13.00 Acres
    Property subtype
    Retail, Office

    Spaces For Lease

    at 3715 Ringgold Rd Contact us

    Suite 3705 $20/Mo

    Size
    1,016 SF
    Type
    Retail, Office
    This space is perfect for a small office or can be combined with adjacent restaurant...
    show more
    Contact us

    Suite 3714 $20/Mo

    Size
    4,264 SF
    Type
    Retail, Office
    Contact us

    Available Space $20/Mo

    Size
    2,834 SF
    Type
    Retail, Office
    Co-tenants are Goodwill, Subway, and H&R Block
    Contact us

    Suite 3701 $20/Mo

    Size
    2,834 SF
    Type
    Retail, Office
    This versatile retail suite offers a blank canvas for a variety of uses, from a boutique...
    show more
    Contact us

    Suite 3708 $20/Mo

    Size
    4,245 SF
    Type
    Retail, Office
    This versatile retail suite offers a blank canvas for a variety of uses, from a boutique...
    show more
    Contact us

    Suite 3809 $20/Mo

    Size
    970 SF
    Type
    Retail, Office
    This versatile retail suite offers a blank canvas for a variety of uses, from a boutique...
    show more
    Contact us

    Suite 3741 $20/Mo

    Size
    7,529 SF
    Type
    Retail, Office
    This space is perfect for a gym.
    Contact us
    Show more

    We can help!

    Listing Contact
    Sierra Pitts

    Listing agent Sierra Pitts License #0000

    Listing date Mar 19, 2024

    Source Crexi

    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 Sierra Pitts

    HighLights

    • Prime Location: Next to a top‑performing Food City in Tennessee, offering high visibility.
    • Redevelopment Opportunity: Part of the East Ridge Shopping Center redevelopment by Urban Story Ventures.
    • Strategic Accessibility: Located in a rapidly developing area with convenient access to I‑75 and Downtown Chattanooga.
    • Flexible Space Options: From a 40,000 sq ft vacant big box to smaller suites starting at 800 sq ft.
    • Ample Parking: The 13‑acre shopping center includes ample parking space.
    • Diverse Tenant Mix: Seeking a mix of retail, medical office, and office tenants.

    Overview

    The East Ridge Shopping Center is undergoing redevelopment into a vibrant mixed-use hub. Located in an up-and-coming area with high traffic and convenient access to I-75 and Downtown Chattanooga, the 13-acre shopping center currently features 160,000 square feet of existing space. This includes a former Food City, five retail outlet buildings, and ample parking. Available spaces range from a 40,000-square-foot vacant big box to smaller suites starting at 800 square feet. The center is already home to a variety of tenants, including food and beverage, professional services, and boutique apparel businesses. The leasing team is seeking retail, medical office, and office tenants to fill available space. The development team is collaborating with elected officials and construction partners to determine infrastructure needs and finalize design plans. Renderings and more detailed plans are forthcoming.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western Union Bank Cynthia Waldron Pharmacy Walter Dart Pharmacy

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Village In East Ridge — 3920 Ringgold Rd, Chattanooga, TN 37412
    • Tennessee's First Shopping Center — 3756 Ringgold Rd, East Ridge, TN 37412

    Location Insight

    • Map
    • Local Demand
    City
    East Ridge
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.2579585
    Latitude
    35.0013633

    Nearby Similar for Lease

    • $10 SF/Yr
      96,600 SF

      East Ridge Retail Spaces Available

      Multiple retail spaces available in prime East Ridge location.
      6725 Ringgold, East Ridge, TN 37412
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near Chattanooga Hotspots

      Retail space in high-traffic area near Topgolf and Bass Pro.
      4340 Ringgold Rd, East Ridge, TN
      View Details

    FAQs

    What type of property is this?
    Shopping center - Redevelopment opportunity near Food City with retail and office space.
    Where is this shopping center located?
    The property is located at 3715 Ringgold Rd East Ridge, TN.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: Prime Location: Next to a top‑performing Food City in Tennessee, offering high visibility.; Redevelopment Opportunity: Part of the East Ridge Shopping Center redevelopment by Urban Story Ventures.; Strategic Accessibility: Located in a rapidly developing area with convenient access to I‑75 and Downtown Chattanooga.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sierra Pitts
    Real Estate License ID: 0000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    3715 Ringgold Rd, East Ridge, TN 37412
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