Brick Triplex with Rear
New
For Sale
$350,000
4100 South Terrace, Chattanooga, TN 37412
Residential Income, Chattanooga, TN
Property Size2,940 SF
Lot Size0.48 Acres
Price / SF$119.05
Days on Market2
Property Features for 4100 South Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Basement, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 1
Parking features
Parking Lot, Garage, Off Street
Window features
Aluminum Frames, Storm Window(s), Blinds, Wood Frames
Patio and Porch features
Porch
Interior features
Chandelier, Crown Molding, High Ceilings, Plumbed
Exterior features
Private Entrance, Rain Gutters
Fireplace
1
Basement
Partially Finished
Appliances
Water Heater, Refrigerator, Free-Standing Refrigerator, Electric Range, Dishwasher
Subdivision
Brookfield
Lot features
Back Yard, Few Trees, Front Yard, Gentle Sloping, Level, Rectangular Lot
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
From Ringgold Rd. turn onto Germantown Rd.. Go about 1.5 miles, turn & turn right at the light on S. Terrace. Go through the next light which is Belvoir Ave. Property is just down the street on the right.
Standard status
Active
APN
157p P 006
Size
2,940 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
Se 1/4 Sec 30 Twp 6 N 25 R-4
Tax Annual Amount
3611
Legal Description
Se 1/4 Sec 30 Twp 6 N 25 R-4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
woodburning fireplaces
covered front porches
enclosed back porches
paved parking lot
grass backyard
Building Details
Year built
1941
Floors in Building
2
Number of units
3
Flooring type
Linoleum, Carpet, Vinyl, Hardwood
Building materials
Block, Brick, Concrete, Wood Siding
Roof type
Shingle, Asphalt
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Gil Patton · License #022287
(423) 667-6822
Added: Sep 24
Last Checked: Sep 25 at 10:06PM
MLS# 1543322
Copyright © 2026 Greater Chattanooga 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 three-unit residential property contains 2,940 square feet on a 0.48-acre parcel and was built in 1941. Brick construction and a rear paved parking area are among its principal features. The upper apartments include high ceilings, large living rooms, formal dining areas, and wood-burning fireplaces. Bathrooms are partially updated, and kitchen appliances are present. Interior finishes include hardwood, carpet, vinyl, and linoleum, with built-in storage and display features. Covered porches are located at the front and rear.
The property occupies the corner of South Terrace and Brookfield Avenue in Chattanooga. It is offered in as-is condition, with no repairs by the seller.
The property occupies the corner of South Terrace and Brookfield Avenue in Chattanooga. It is offered in as-is condition, with no repairs by the seller.
Key Highlights
- Three‑unit property with 2,940 square feet of building area
- 0.48‑acre parcel
- Built in 1941
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
$28,863
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
8.25%
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%
$577,260
$577.3K
Cap Rate 7%
$412,329
$412.3K
Cap Rate 9%
$320,700
$320.7K
Market Conditions
NOI Build-Up for 2,940 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
$44.1K $15.00/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$41.2K $14.03/SF
− OpEx
−$12.4K −$4.21/SF
NOI
$28.9K $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 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%
$577,260
Cap Rate 7%
$412,329
Cap Rate 9%
$320,700
Alternative Uses
Best Use
Multifamily LT 5
$412.3K
$360.8K – $481.1K
NOI $28,863 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$370.0K
$323.8K – $431.7K
NOI $25,900 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$649.3K
$568.2K – $757.5K
NOI $45,452 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
328
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Upper apartments feature high ceilings, formal dining rooms, and wood-burning fireplaces.
Where is this triplex located?
The property is located at 4100 South Terrace Chattanooga, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit property with 2,940 square feet of building area; 0.48‑acre parcel; Built in 1941
