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    Unrestricted Land Near Highway 111 Title is generated by Realmo AI

    Lewis Chapel Road, Dunlap, TN 37327

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    Claim this Listing
    Pending
    $190,000

    LAND - Dunlap, TN

    Lot size:
    14.10 Acres
    Added:
    Feb 28, 2025
    Days on Market:
    453
    Last Refresh:
    May 27 at 5:06 pm

    Property Features for Lewis Chapel Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    056 007.01 / 056 021.00
    Lot size
    14.10 Acres

    Taxes and HOA fees

    Tax Description
    Parcel ID/Tax ID 056 007.01 & Parcel ID/Tax ID 056 021.00
    Tax Annual Amount
    280

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Angela Tumlin

    Listing agent Angela Tumlin License #365278

    Listing office Real Estate Partners Chattanooga LLC 2115 Stein Drive, Chattanooga, TN

    Listing date Feb 28, 2025

    MLS# 1508334 Listing URL

    Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 14.1 Acres of Unrestricted and Unzoned Land
    • Prime Location Just Off Hwy 111 with Excellent Visibility
    • Quick Access to Chattanooga, Soddy‑Daisy, Hixson, and Dunlap
    • Ideal for Commercial or Light Commercial Opportunities
    • Lower Property Taxes Due to Sequatchie County Location
    • Potential for Commercial Signage on Hwy 111 Frontage

    Overview

    This 14.1-acre property is located just off Highway 111 at the Lewis Chapel exit. The land is unrestricted and unzoned, offering flexibility for various uses. Its location provides convenient access to Chattanooga, Soddy-Daisy, Hixson, and Dunlap. Downtown Chattanooga is approximately 32 miles away (about 30 minutes), and Northgate Mall is 28 miles away, accessible via an interstate-quality highway. While residential use is possible, the property's location near Highway 111 is suitable for commercial or light commercial opportunities. Potential uses include mini-storage units, contractor or equipment yards, trucking or fleet parking, or a commercial shop with space to build a home alongside the business. The area benefits from tourism related to a nearby hang gliding school, potentially creating demand for storage, cabins, or short-term rental accommodations. The property is located just inside Sequatchie County, offering lower property taxes and no zoning or restrictions, while maintaining proximity to Hamilton County amenities. A small portion of the property has frontage along Highway 111, which may allow for commercial signage, subject to TDOT approval. This tract provides the flexibility to bring your vision to life.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Dunlap
    County
    Sequatchie
    State
    Tennessee
    Longitude
    -85.30783
    Latitude
    35.343414

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    FAQs

    What type of property is this?
    Commercial land - 14.1 acres of unrestricted, unzoned land near Highway 111.
    Where is this commercial land located?
    The property is located at Lewis Chapel Road Dunlap, TN.
    What is the asking price?
    The asking price for this property is $190,000.
    What are key features of this property?
    This property features: 14.1 Acres of Unrestricted and Unzoned Land; Prime Location Just Off Hwy 111 with Excellent Visibility; Quick Access to Chattanooga, Soddy‑Daisy, Hixson, and Dunlap
    (423) 421-9742
    We can help!
    Listing Contact
    Angela Tumlin
    Real Estate License ID: 365278
    Learn More
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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.

    More about this property
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    Lewis Chapel Road, Dunlap, TN 37327
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