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    614 Main St Chattanooga, TN 37408

    Sponsored
    For Sale
    $5,500,000

    Historic 11-unit building, prime location.

    Property size:
    13,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional mixed-use investment opportunity presents a fully renovated, Class A, 13,950 square foot apartment building located at 614 E Main St, Chattanooga, TN 37408. The property, originally built in 1890 and completely renovated in 2023, boasts 11 units: eight residential rentals, two short-term vacation rentals (STVRs), and one office space. All new plumbing, electrical, and mechanical systems were installed during the extensive renovation. Situated on a 0.42-acre lot (APN: 145L J 017), this two-story building is zoned U-CX-3. Its strategic location on East Main Street offers easy access to downtown Chattanooga and major highways, and is conveniently located near public transportation. The property benefits from its vibrant surroundings, including a mix of thriving businesses, restaurants, and residential areas, creating a highly desirable live/work/play environment. This stabilized investment presents a compelling opportunity for a discerning buyer seeking a high-quality, income-producing asset in a rapidly growing market. The asking price is $5,500,000. Further details are available in the Offering Memoranda.

    Property Features for 614 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    13,950 SF
    Class
    A
    Lot Size
    18,295 SF

    Building Details

    Year Built/Renovated
    1890/2023
    Buildings
    1
    Stories
    2
    Units
    11

    HighLights

    • High‑traffic location with excellent visibility.
    • Strong tenant roster featuring established businesses.
    • Modern building systems and efficient floor plans.
    • Ample on‑site parking for tenants and customers.
    • Strategic location near major transportation arteries.
    • Significant upside potential through lease‑up and rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Hair Salon Realty agency Nail Salon Clothing Store Pharmacy Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.299213131068
    Latitude
    35.033067934427

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    FAQs

    What type of property is this?
    Multifamily property - Historic 11-unit building, prime location.
    Where is this multifamily property located?
    The property is located at 614 Main St Chattanooga, TN.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: High-traffic location with excellent visibility.; Strong tenant roster featuring established businesses.; Modern building systems and efficient floor plans.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    614 Main St Chattanooga, TN 37408
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