Lee Highway Redevelopment
For Sale
Contact for pricing
5950 LEE HWY, Chattanooga, TN 37421
Commercial building with additional vacant lot on Lee Highway.
Property Size5,130 SF
Lot Size0.50 Acres
Price / SF$253.41
Days on Market167
Property Features for 5950 LEE HWY
General Information
Standard status
Active
Size
5,130 SF
Class
B
Total Parking Spaces
20
Lot size
0.50 Acres
Property subtype
Retail, Office, Self Storage
Zoning
C2
Building Details
Year Built
1973
Year Renovated
2023
Buildings
1
Units
1
Listing Agency:
RE/MAX Real Estate Center
Listed By:
Cliff Butler · License #303081
(423) 255-4830
Source:
Crexi
Added: May 11
Changed: Oct 21
Last Checked: Oct 23 at 5:35AM
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 RE/MAX Real Estate Center
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located along the highly traveled Lee Highway corridor, this offering includes a commercial property at 5950 Lee Hwy and an adjoining vacant lot at 5942 Lee Hwy. The additional approximately 0.50 acre parcel directly behind the site creates an outstanding commercial opportunity with additional expansion potential. The extra land gives investors, developers, and owner-users added flexibility. Strategically positioned with excellent visibility and quick access to I-75, Hamilton Place, East Brainerd, Downtown Chattanooga, and North Georgia, the property benefits from strong daily traffic counts and consistent commercial activity surrounding the area. The commercial property is ideal for retail, office, automotive, showroom, contractor yard, medical, or mixed commercial use. The inclusion of the vacant lot significantly increases the property’s functionality and future upside. Investors can capitalize on the additional land for expansion of existing improvements, additional income-producing structures, outdoor storage or contractor use, increased parking capacity, future redevelopment opportunities, multi-tenant commercial concepts, or billboard income. The property is positioned in a rapidly growing section of Chattanooga, offering close proximity to the Hamilton Place retail district, Chattanooga Airport, East Brainerd, Downtown Chattanooga, Ringgold & Fort Oglethorpe, Georgia, and major national retailers and restaurants. The existing commercial property has a size of 5130 square feet.
Key Highlights
- Includes an additional 0.50± acre vacant lot for expansion, development, or parking.
- Located on highly traveled Lee Highway with excellent visibility and strong traffic exposure.
- Offers convenient access to I‑75, Hamilton Place, East Brainerd, Downtown Chattanooga, and North Georgia.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,867
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,177,340
$1.2M
Cap Rate 7%
$840,957
$841.0K
Cap Rate 9%
$654,078
$654.1K
Market Conditions
NOI Build-Up for 5,130 SF
Gross rent
$92.3K $18.00/SF
− Vacancy
−$13.9K −$2.70/SF
EGI
$78.5K $15.30/SF
− OpEx
−$19.6K −$3.82/SF
NOI
$58.9K $11.48/SF
Area
Chattanooga, TN
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,177,340
Cap Rate 7%
$840,957
Cap Rate 9%
$654,078
Alternative Uses
Best Use
Office B
$841.0K
$735.8K – $981.1K
NOI $58,867 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$566.4K
$495.6K – $660.8K
NOI $39,645 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.13M
$991.4K – $1.32M
NOI $79,309 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail property - Commercial building with additional vacant lot on Lee Highway.
Where is this retail property located?
The property is located at 5950 LEE HWY Chattanooga, TN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Includes an additional 0.50± acre vacant lot for expansion, development, or parking.; Located on highly traveled Lee Highway with excellent visibility and strong traffic exposure.; Offers convenient access to I‑75, Hamilton Place, East Brainerd, Downtown Chattanooga, and North Georgia.
