Fully Equipped Medical Office
For Sale
Contact for pricing
932 Spring Creek Rd, Chattanooga, TN 37412
Turnkey medical office building with exam rooms, private offices, optical retail space, and extensive paved parking.
Property Size10,871 SF
Lot Size2.08 Acres
Price / SF$271.36
Days on Market116
Property Features for 932 Spring Creek Rd
General Information
Standard status
Active
Size
10,871 SF
Lot size
2.08 Acres
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Properties For Sale
at 932 Spring Creek Rd Contact us- Floor
- Bldg
- Size
- 10,871 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
932 Spring Creek Rd
- An exceptional opportunity to acquire a fully-equipped medical/professional office...
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Contact us
Listing Agency:
SVN | Second Story RE Management
(423) 682-8241
Listed By:
Nick Petras · License ##380771
(205) 527-3500
Source:
Moodyscre
Added: May 20
Changed: Aug 23
Last Checked: Sep 12 at 4:27AM
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 SVN | Second Story RE Management
Investment Insights
Based on property information with market context.
This fully equipped medical/professional office building is currently operating as an established eye clinic. The 10,871-square-foot facility is laid out with multiple exam rooms, private physician offices, reception/waiting areas, and administrative/billing offices, along with staff break rooms. A dedicated optical shop/retail space is included, and the building benefits from specialized plumbing/electrical for medical equipment, substantial on-site storage, and a functional, efficient floor plan.
Located at 932 Spring Creek Rd in Chattanooga, the property offers excellent frontage on Spring Creek Road with high daily traffic counts and extensive paved parking for patients and staff. Accessibility is highlighted by proximity to I-75 and Ringgold Road, providing convenient connections to downtown Chattanooga and surrounding areas.
The offering is designed for immediate professional use, with the current layout supporting both clinical services and on-site optical retail.
Located at 932 Spring Creek Rd in Chattanooga, the property offers excellent frontage on Spring Creek Road with high daily traffic counts and extensive paved parking for patients and staff. Accessibility is highlighted by proximity to I-75 and Ringgold Road, providing convenient connections to downtown Chattanooga and surrounding areas.
The offering is designed for immediate professional use, with the current layout supporting both clinical services and on-site optical retail.
Key Highlights
- 10,871 SF medical/professional office building on a 2.08‑acre lot in East Ridge, Chattanooga.
- Currently configured as an eye clinic with multiple exam rooms, private physician offices, and reception/waiting areas.
- Includes dedicated optical shop/retail space plus administrative/billing offices and staff break rooms.
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
$124,745
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
4.23%
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%
$2,494,900
$2.5M
Cap Rate 7%
$1,782,071
$1.8M
Cap Rate 9%
$1,386,056
$1.4M
Market Conditions
NOI Build-Up for 10,871 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
$195.7K $18.00/SF
− Vacancy
−$29.4K −$2.70/SF
EGI
$166.3K $15.30/SF
− OpEx
−$41.6K −$3.82/SF
NOI
$124.7K $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%
$2,494,900
Cap Rate 7%
$1,782,071
Cap Rate 9%
$1,386,056
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,745 @ 7.0% cap · market cap 4.23%
Second Best
Healthcare Medical
$1.73M
$1.51M – $2.02M
NOI $121,086 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,064 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office building with exam rooms, private offices, optical retail space, and extensive paved parking.
Where is this medical office space located?
The property is located at 932 Spring Creek Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 10,871 SF medical/professional office building on a 2.08‑acre lot in East Ridge, Chattanooga.; Currently configured as an eye clinic with multiple exam rooms, private physician offices, and reception/waiting areas.; Includes dedicated optical shop/retail space plus administrative/billing offices and staff break rooms.
