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    Downtown Showroom/Warehouse/Shop Space Available Title is generated by Realmo AI

    609 E 11th St, Chattanooga, TN 37403

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    Renovated, fully conditioned showroom/warehouse/shop space near central business district.

    Type:Industrial
    Property size:
    4,570 SF
    Lot size:
    0.55 Acres
    Added:
    Jan 29, 2024
    Days on Market:
    835
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 609 E 11th St

    General Information

    Standard status
    Active
    Size
    4,570 SF
    Lot size
    0.55 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1940

    Spaces For Lease

    at 609 E 11th St Contact us

    607 $10 /Mo

    Size
    4,570 SF
    Type
    Industrial
    Suite 607 is approximately 4,570 SF of clean, open, fully conditioned warehouse /...
    show more
    Contact us

    609 $10 /Mo

    Size
    4,050 SF
    Type
    Industrial
    Suite 609 is approximately 4,050 SF of fully conditioned space, recently renovated...
    show more
    Contact us

    We can help!

    Listing Contact
    Benjamin Pitts
    Benjamin Pitts

    Listing agent Benjamin Pitts License #TN 303232

    Listing office Herman Walldorf Commercial, Inc.

    Listing date Jan 29, 2024

    Source Crexi

    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 Herman Walldorf Commercial, Inc.

    HighLights

    • Fully conditioned showroom/warehouse/shop space totaling 9,620 SF
    • Renovated in 2024
    • Convenient downtown location with easy access to major transportation routes
    • Fenced and paved yard suitable for outdoor storage
    • Suite 609 features a front showroom/gallery with 15' high ceilings, ample natural light, and a glass roll‑up loading door
    • Loading docks and front/rear loading doors provide flexible access

    Overview

    This fully conditioned showroom, warehouse, and shop space is available for rent. Constructed in 1940 and renovated in 2024, the property is situated on 0.55 acres in a convenient downtown location near the central business district, offering easy access to major transportation routes. It is located across from the City of Chattanooga WellAdvantage Employee Clinic and the Onion Bottom Station of the City of Chattanooga Police Department. The property features a shared platform dock with heights ranging from 2 to 3.5 feet, along with a slight grade change in the front lot. Front loading doors are 9 feet tall. Rear loading doors are accessible from an unused railroad right of way. A fenced, paved yard is suitable for outdoor storage, a lay-down yard, or expanded parking. The building is divided into two suites with a connecting doorway. Suite 609 offers approximately 4,050 square feet of fully conditioned, recently renovated space, including a front showroom or gallery with 15-foot high ceilings, ample natural light, and a glass roll-up loading door. The rear shop space is designed for individual artist studios, workspaces, or storage rooms, but could be converted into offices. Suite 607 provides approximately 4,570 square feet of clean, open, fully conditioned warehouse or shop space with a small reception area and one office, along with two loading doors at the front and one at the rear.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

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

    Similar Places Nearby

    • Chattanooga Catering — 232 E 11th St, Chattanooga, TN 37402
    • Two Lost Cajuns Catering — 701 Cherry St, Chattanooga, TN 37402
    • Bertin's Taste of New Orleans — Chattanooga, TN 37403, United States
    • Bayou Bites Food Truck — 556 W Main St, Chattanooga, TN 37402
    • Five Star Breaktime Solutions - Headquarters — 412 E 10th St, Chattanooga, TN 37403

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.3019365
    Latitude
    35.0413832

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    FAQs

    What type of property is this?
    Flex space - Renovated, fully conditioned showroom/warehouse/shop space near central business district.
    Where is this flex space located?
    The property is located at 609 E 11th St Chattanooga, TN.
    What are key features of this property?
    This property features: Fully conditioned showroom/warehouse/shop space totaling 9,620 SF; Renovated in 2024; Convenient downtown location with easy access to major transportation routes
    (423) 756-2400 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Benjamin Pitts
    Benjamin Pitts
    Real Estate License ID: TN 303232
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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