Three-Unit Multifamily
For Sale
$369,000
6625 Vaden Dr, Chattanooga, TN 37421
Commercially zoned triplex with separate utilities, updated roofing, and a mix of one- and multi-bedroom units.
Property Size3,340 SF
Price / SF$110.48
Days on Market85
Property Features for 6625 Vaden Dr
General Information
Standard status
Active
Size
3,340 SF
Property subtype
Multi-Family
Zoning
commercial
Occupancy
100%
Units
Unit Mix
1 x 3/4BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$33,600
Utilities to Site
Yes
Amenities
deck
storage building
Building Details
Year Built
1999
Tenancy
Multi
Listing Agency:
simpliHOM
Listed By:
Jonathan D Lickliter, Jessica Lickliter
Source:
Weathersbeerealty
Added: Jul 24
Changed: Oct 9
Last Checked: Oct 7 at 12:56PM
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 simpliHOM
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Investment Insights
Based on property information with market context.
Built in 1999, this 3,340-square-foot triplex combines a 1,670-square-foot upper residence with two lower-level apartments. The upper unit includes three to four bedrooms, two full bathrooms, a combined living and dining area, an eat-in kitchen, den, laundry room, hardwood flooring in select areas, and a large deck. Each lower apartment offers one bedroom, one full bathroom, an eat-in kitchen, living room, and laundry hookups.
The property is 100% occupied and commercially zoned for a triplex. Improvements include a roof installed in 2019, newer vinyl windows, three electric meters, three separate heat pumps, and one water meter. A storage building in the rear yard also remains with the property.
The property is 100% occupied and commercially zoned for a triplex. Improvements include a roof installed in 2019, newer vinyl windows, three electric meters, three separate heat pumps, and one water meter. A storage building in the rear yard also remains with the property.
Key Highlights
- 3,340‑square‑foot triplex built in 1999
- Upper unit measures 1,670 square feet with 3–4 bedrooms and 2 full bathrooms
- Two lower‑level apartments each include 1 bedroom and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,790
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,800
$655.8K
Cap Rate 7%
$468,429
$468.4K
Cap Rate 9%
$364,333
$364.3K
Market Conditions
NOI Build-Up for 3,340 SF
Gross rent
$50.1K $15.00/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$46.8K $14.03/SF
− OpEx
−$14.1K −$4.21/SF
NOI
$32.8K $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%
$655,800
Cap Rate 7%
$468,429
Cap Rate 9%
$364,333
Alternative Uses
Best Use
Multifamily LT 5
$468.4K
$409.9K – $546.5K
NOI $32,790 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$420.3K
$367.8K – $490.4K
NOI $29,424 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$737.7K
$645.5K – $860.6K
NOI $51,636 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Commercially zoned triplex with separate utilities, updated roofing, and a mix of one- and multi-bedroom units.
Where is this triplex located?
The property is located at 6625 Vaden Dr Chattanooga, TN.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 3,340‑square‑foot triplex built in 1999; Upper unit measures 1,670 square feet with 3–4 bedrooms and 2 full bathrooms; Two lower‑level apartments each include 1 bedroom and 1 full bathroom
