Brick
For Sale
$350,000
4100 South Terrace, Chattanooga, TN 37412
Upper-level residences feature fireplaces, formal dining rooms, and bathrooms with partial updates.
Property Size2,940 SF
Days on Market39
Property Features for 4100 South Terrace
General Information
Standard status
Active
Size
2,940 SF
Property subtype
Triplex
Site & Location
Neighborhood
Belvoir Neighborhood Association
Road Access
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,611
Amenities
woodburning fireplaces
covered front porches
enclosed back porches
paved parking lot
backyard
kitchen appliances
built-in storage
Building Details
Building Size
2,940 SF
Year Built
1941
Buildings
1
Construction
brick
Listing Agency:
Real Estate Partners Chattanooga LLC
Listed By:
Gil Patton · License #022287
(423) 667-6822
Source:
Gracefrankgroup
Added: Sep 24
Changed: Oct 31
Last Checked: Nov 1 at 2:37PM
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 Real Estate Partners Chattanooga LLC
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Investment Insights
Based on property information with market context.
Built in 1941, this brick residential property contains three units. The upper apartments feature high ceilings, spacious living rooms, formal dining rooms, wood-burning fireplaces, and bathrooms with partial updates. Kitchen appliances are present, and interior flooring includes hardwood, carpet, and vinyl or linoleum. Wood built-ins provide storage and display areas.
Outdoor features include covered front porches with tile flooring, enclosed covered porches at the rear, and a grass backyard. A paved parking area is located behind the building. The property sits at the corner of South Terrace and Brookfield Avenue in Chattanooga. It is being sold in its current condition, with no repairs by the seller.
Outdoor features include covered front porches with tile flooring, enclosed covered porches at the rear, and a grass backyard. A paved parking area is located behind the building. The property sits at the corner of South Terrace and Brookfield Avenue in Chattanooga. It is being sold in its current condition, with no repairs by the seller.
Key Highlights
- Three‑unit brick residential property built in 1941
- Upper apartments have high ceilings, formal dining rooms, and wood‑burning fireplaces
- Kitchen appliances and wood built‑ins for storage and display
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,863
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Upper-level residences feature fireplaces, formal dining rooms, and bathrooms with partial updates.
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 brick residential property built in 1941; Upper apartments have high ceilings, formal dining rooms, and wood‑burning fireplaces; Kitchen appliances and wood built‑ins for storage and display
