This exceptional Chattanooga commercial property, located at 2437 Glass Street, presents a compelling investment opportunity. The 8,350 square foot, multi-tenant storefront building sits on a substantial 4.792-acre lot and boasts two buildings, each two stories high. Currently 50% occupied, with a projected occupancy date of January 25, 2024, the property offers significant upside potential. The asking price is $1,500,000, representing a pro-forma cap rate of 9.80% and a pro-forma NOI of $147,000. Built in 1917, the property has undergone extensive renovations in 2014, 2016, and 2022, including new windows, plumbing, electrical, roofing, and lead abatement. The front section provides excellent street visibility, ideal for retail or office space, while the back section, with separate street access, is suited for uses such as a distillery. The upper level, currently an art studio, offers versatile conversion options. The property is zoned commercial and features three units, offering flexibility for various uses. Recent upgrades include new windows, a new roof (on both buildings), and the creation of a potential loading dock. This property is a Class C building with a modified lease type. The building's unique character and substantial size make it suitable for a wide range of commercial ventures.
Property Features for 2437 Glass St
General Information
Property type
Individual retail properties
Square Feet
8,358 SF
Class
C
Lot Size
208,739,520 SF
Building Details
Year Built/Renovated
1917/4
Buildings
2
Stories
2
Units
3
HighLights
8,350 SF multi‑tenant building on a 4.79‑acre lot in Chattanooga, TN.
Two two‑story buildings, currently 50% occupied, projected full occupancy January 25, 2024.
$1,500,000 asking price, projecting a 9.80% cap rate and $147,000 NOI.
1917 construction with extensive renovations (2014, 2016, 2022), including new roof, windows, plumbing, electrical, and lead abatement.
Three units, zoned commercial, offering flexible use options; front section ideal for retail/office, rear section with separate access suitable for distillery or similar use.
Individual retail property - 8,350 SF Multi-Tenant Retail Building
Where is this individual retail property located?
The property is located at 2437 Glass St Chattanooga, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,350 SF multi-tenant building on a 4.79-acre lot in Chattanooga, TN.; Two two-story buildings, currently 50% occupied, projected full occupancy January 25, 2024.; $1,500,000 asking price, projecting a 9.80% cap rate and $147,000 NOI.
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2437 Glass St Chattanooga, TN 37406
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Realmo Value Estimation
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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
2437 Glass St Chattanooga, TN 37406
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2437 Glass St, Chattanooga, TN
Laura Coleman
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2437 Glass St, Chattanooga, TN
Laura Coleman
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2437 Glass St, Chattanooga, TN
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2437 Glass St, Chattanooga, TN
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2437 Glass St, Chattanooga, TN
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2437 Glass St, Chattanooga, TN
Laura Coleman
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