Office Building with Deeded
For Sale
$4,950,000
620 Lindsay St, Chattanooga, TN 37403
Office property in the U-CX-6 zone with recently renovated offices.
Property Size19,824 SF
Price / SF$247.50
Days on Market53
Property Features for 620 Lindsay St
General Information
Standard status
Active
Size
19,824 SF
Class
B
Property subtype
Office - General Office
Zoning
U-CX-6
Building Details
Building Size
19,824 SF
Year Built
1973
Year Renovated
2024
Buildings
1
Listing Agency:
Rise Partners
Listed By:
Wilson McGinness · License #281173
Source:
Commercialcafe
Added: Aug 25
Changed: Oct 1
Last Checked: Oct 14 at 8:36PM
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 Rise Partners
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Investment Insights
Based on property information with market context.
Located at 620 Lindsay St, this 20,000 SF office building includes multiple offices, with several recently renovated. Originally constructed in 1973, the property provides a substantial office configuration in Chattanooga’s downtown area and includes deeded parking, a practical feature for an urban commercial setting.
The building is across from the selected site for the new Federal Courthouse and near the University of Tennessee Chattanooga, Soldiers and Sailors Memorial Auditorium, and Walker Theatre. Its U-CX-6 zoning and proximity to established civic and cultural destinations support its position within the downtown office environment.
The building is across from the selected site for the new Federal Courthouse and near the University of Tennessee Chattanooga, Soldiers and Sailors Memorial Auditorium, and Walker Theatre. Its U-CX-6 zoning and proximity to established civic and cultural destinations support its position within the downtown office environment.
Key Highlights
- 20,000 SF office building
- Deeded parking included
- Several offices recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$229,500
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,590,000
$4.6M
Cap Rate 7%
$3,278,571
$3.3M
Cap Rate 9%
$2,550,000
$2.6M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$360.0K $18.00/SF
− Vacancy
−$54.0K −$2.70/SF
EGI
$306.0K $15.30/SF
− OpEx
−$76.5K −$3.82/SF
NOI
$229.5K $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%
$4,590,000
Cap Rate 7%
$3,278,571
Cap Rate 9%
$2,550,000
Alternative Uses
Best Use
Office B
$3.28M
$2.87M – $3.83M
NOI $229,500 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.42M
$3.86M – $5.15M
NOI $309,197 @ 7.0% cap · market cap 6.25%
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
3,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 37403, TN
5,666
Population
2,394
Households
2.4
Avg Household Size
26
Median Age
49%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
3,333
Density / Sq Mi
$65,750
Median Household Income
$12,410
Median Earnings
$1,253
Median Rent
$444,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property in the U-CX-6 zone with recently renovated offices.
Where is this office building located?
The property is located at 620 Lindsay St Chattanooga, TN.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 20,000 SF office building; Deeded parking included; Several offices recently renovated
