Multi-Tenant Office and Retail
5811 Lee Highway Chattanooga, TN 37421
For Sale
Contact for pricing
19,360 SF multi-tenant office and retail investment property.
Property Size19,360 SF
Price / SF$167.87
Days on Market184
Property Features for 5811 Lee Highway
General Information
Standard status
Active
Size
19,360 SF
Property subtype
Office, Retail
Building Details
Year Built
1961
Listing Agency:
SVN Second Story Real Estate Management- Atlanta
(938) 666-1357
Listed By:
Bob Johnson · License #182833
Source:
Crexi
Added: Jan 26
Changed: Jul 6
Last Checked: Jul 28 at 6:10PM
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 SVN Second Story Real Estate Management- Atlanta
Investment Insights
Based on property information with market context.
The property at 5805-5811 Lee Highway in Chattanooga, Tennessee, is a multi-tenant office and retail investment property encompassing approximately 19,360 square feet. This well-maintained asset is fully occupied by a diverse tenant roster, providing consistent cash flow. It is positioned along one of the region’s primary commercial corridors, benefiting from excellent visibility, strong traffic counts, and easy accessibility to key commercial districts. The offering includes an income-generating billboard that is leased on a long-term basis. Recent capital improvements include replacement of HVAC units and installation of a partial new roof, enhancing the building’s efficiency. Many existing tenants are currently on month-to-month leases, creating an opportunity to drive NOI growth by securing tenants on longer-term lease agreements and to increase rental rates to market levels. The property's location and physical condition position it well for continued performance and income growth.
Key Highlights
- High‑performing, fully occupied property generating stable in‑place income.
- Clear value‑add potential through strategic leasing initiatives and rent increases.
- Located on a primary commercial corridor with excellent visibility, strong traffic counts, and easy accessibility.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $348.5k | $18.00 |
| − Vacancy | −$52.3k | −$2.70 |
| EGI | $296.2k | $15.30 |
| − OpEx | −$74.1k | −$3.82 |
| NOI | $222.2k | $11.48 |
19,360 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.17M
$2.78M – $3.70M
NOI $222,156 @ 7.0% cap · market cap 6.84%
Second Best
Retail
$2.14M
$1.87M – $2.49M
NOI $149,614 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,303 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - 19,360 SF multi-tenant office and retail investment property.
Where is this office building located?
The property is located at 5811 Lee Highway Chattanooga, TN.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: High‑performing, fully occupied property generating stable in‑place income.; Clear value‑add potential through strategic leasing initiatives and rent increases.; Located on a primary commercial corridor with excellent visibility, strong traffic counts, and easy accessibility.
