Historic Office
For Sale
Contact for pricing
800 Market St, Chattanooga, TN 37402
Professional workspace with vaulted ceilings, shared common areas, and dedicated parking in a mixed-use downtown building.
Property Size10,367 SF
Price / SF$265.26
Days on Market154
Property Features for 800 Market St
General Information
Standard status
Active
Size
10,367 SF
Class
A
Total Parking Spaces
13
Property subtype
Office, Retail
Investment Type
Owner/User
Building Details
Year Built
1875
Year Renovated
2008
Buildings
1
Stories
6
Units
1
Tenancy
Multi
Listing Agency:
NAI Charter Real Estate
(423) 267-6549
Listed By:
Jeff Jennings · License #TN 295488
Source:
Crexi
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 2:02AM
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 NAI Charter Real Estate
Investment Insights
Based on property information with market context.
Office Unit C-1 occupies space within a mixed-use building completed in 1875, combining historic architectural details with adaptable modern workspace. The 10,367-square-foot suite includes decorative columns, wood trim, and high vaulted ceilings, along with access to shared common areas and a professional main entrance. A secured stairway provides primary access from within the suite, with secondary entry from Market Street.
The building includes ground-floor commercial units and residential living above. Thirteen dedicated parking spaces are provided in a gated garage beneath the property. The building is located at 800 Market St in Chattanooga’s central business district, along Market Street near retail, dining, and financial services. A deed restriction prohibits banks and financial service providers for two years.
The building includes ground-floor commercial units and residential living above. Thirteen dedicated parking spaces are provided in a gated garage beneath the property. The building is located at 800 Market St in Chattanooga’s central business district, along Market Street near retail, dining, and financial services. A deed restriction prohibits banks and financial service providers for two years.
Key Highlights
- 10,367‑square‑foot office unit in a building completed in 1875
- Historic details include decorative columns, wood trim, and high vaulted ceilings
- 13 dedicated parking spaces in a gated garage beneath the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,961
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,379,220
$2.4M
Cap Rate 7%
$1,699,443
$1.7M
Cap Rate 9%
$1,321,789
$1.3M
Market Conditions
NOI Build-Up for 10,367 SF
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.
Gross rent
$186.6K $18.00/SF
− Vacancy
−$28.0K −$2.70/SF
EGI
$158.6K $15.30/SF
− OpEx
−$39.7K −$3.82/SF
NOI
$119.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,379,220
Cap Rate 7%
$1,699,443
Cap Rate 9%
$1,321,789
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,961 @ 7.0% cap · market cap 4.33%
Second Best
Mixed Use
$1.64M
$1.43M – $1.91M
NOI $114,452 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,272 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 37402, TN
4,464
Population
3,207
Households
1.4
Avg Household Size
38
Median Age
30%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
3,434
Density / Sq Mi
$28,829
Median Household Income
$42,515
Median Earnings
$673
Median Rent
$460,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional workspace with vaulted ceilings, shared common areas, and dedicated parking in a mixed-use downtown building.
Where is this office units located?
The property is located at 800 Market St Chattanooga, TN.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10,367‑square‑foot office unit in a building completed in 1875; Historic details include decorative columns, wood trim, and high vaulted ceilings; 13 dedicated parking spaces in a gated garage beneath the building
