81-Unit Self-Storage
For Sale
Contact for pricing
500 W Manning Street, Chattanooga, TN 37405
Established storage property with E-IX-3 zoning on an infill parcel near Chattanooga’s North Shore.
Property Size10,650 SF
Lot Size0.67 Acres
Price / SF$154.93
Days on Market173
Property Features for 500 W Manning Street
General Information
Standard status
Active
Size
10,650 SF
Class
B
Total Parking Spaces
12
Lot size
0.67 Acres
Property subtype
Self Storage
Zoning
E-IX-3
Occupancy
90%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$83,018
Additional Details
Asking Price
$1,650,000
Self-Storage Units
81
Building Details
Year Built
2006
Buildings
2
Stories
1
Units
93
Tenancy
Single
Listing Agency:
Fletcher Bright Realty
Listed By:
Trace Walker · License #TN 334693
(423) 598-1469
Source:
Crexi
Added: Apr 27
Changed: Oct 11
Last Checked: Oct 14 at 10:51PM
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 Fletcher Bright Realty
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Investment Insights
Based on property information with market context.
Built in 2006, this self-storage property contains 81 units and occupies approximately 0.67 acres at 500 W Manning Street. The facility is currently 90% occupied and is classified under E-IX-3 zoning, which supports development up to 3 stories and 50 feet in height according to the provided property information.
The property is positioned in Chattanooga’s North Shore, near the Walnut Street Bridge, Frazier Avenue, and downtown. Its surrounding trade area includes dense multifamily development, new infill construction, and a renter-occupied household base. The site offers an existing storage operation with additional vertical development parameters identified in the zoning information.
The property is positioned in Chattanooga’s North Shore, near the Walnut Street Bridge, Frazier Avenue, and downtown. Its surrounding trade area includes dense multifamily development, new infill construction, and a renter-occupied household base. The site offers an existing storage operation with additional vertical development parameters identified in the zoning information.
Key Highlights
- 81‑unit self‑storage facility built in 2006
- Approximately 0.67‑acre infill parcel
- Currently 90% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,518
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,830,360
$1.8M
Cap Rate 7%
$1,307,400
$1.3M
Cap Rate 9%
$1,016,867
$1.0M
Market Conditions
NOI Build-Up for 10,650 SF
Gross rent
$140.6K $13.20/SF
− Vacancy
−$9.8K −$0.92/SF
EGI
$130.7K $12.28/SF
− OpEx
−$39.2K −$3.68/SF
NOI
$91.5K $8.59/SF
Area
Chattanooga, TN
Vacancy
7.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,830,360
Cap Rate 7%
$1,307,400
Cap Rate 9%
$1,016,867
Alternative Uses
Best Use
Self Storage
$1.31M
$1.14M – $1.53M
NOI $91,518 @ 7.0% cap · market cap 5.55%
Second Best
Warehouse
$928.5K
$812.4K – $1.08M
NOI $64,993 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,647 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,246
Businesses Nearby
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Business Placement
Demographics for 37405, TN
18,231
Population
9,959
Households
1.8
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
54.3 sq mi
ZIP Area
336
Density / Sq Mi
$77,850
Median Household Income
$51,748
Median Earnings
$1,276
Median Rent
$416,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Established storage property with E-IX-3 zoning on an infill parcel near Chattanooga’s North Shore.
Where is this self storage facility located?
The property is located at 500 W Manning Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 81‑unit self‑storage facility built in 2006; Approximately 0.67‑acre infill parcel; Currently 90% occupied
