Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    5937 Elementary Way Collegedale, TN 37363

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5937 Elementary Way Collegedale, TN 37363

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5937 Elementary Way

    Property type
    Land

    Description

    This exceptional commercial land parcel, located at 5937 Elementary Way in Collegedale, Tennessee, presents a unique investment opportunity. The property is conveniently situated in a rapidly growing area of Hamilton County, boasting excellent visibility and accessibility. Designated as pad-ready, this site offers significant advantages for immediate development, with existing groundwater and utilities already in place, saving considerable time and expense. The location is highly desirable, adjacent to a cluster of established businesses including Aldi, Walmart, Erlanger Express Care, Jersey Mike's Subs, and Smoothie King, ensuring high traffic and customer visibility. Its proximity to Lee Highway further enhances its strategic position. Furthermore, the property benefits from its close proximity to Interstate 75, approximately half a mile away, providing easy access to regional transportation networks. The site is also directly across from newly constructed Class A apartments and medical offices, creating a vibrant and thriving commercial environment. The surrounding area is experiencing significant growth, fueled by new home construction and new retail development, making this a particularly attractive investment opportunity in a high-demand market. The zip code is 37363. This property offers a compelling combination of location, infrastructure, and market dynamics, making it ideal for a variety of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Collegedale
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.0604
    Latitude
    35.0817

    Comparable in this City

    • Value Estimation by Request
      2.16 Acres

      8001 Old Lee Hwy

      Self storage facilities • 2.16 Acres
      8001 Old Lee Hwy, Ooltewah, TN 37363
      View Details
    • Value Estimation by Request
      3.80 Acres

      8080 Old Cleveland Pike

      Land • 3.80 Acres
      8080 Old Cleveland Pike, Ooltewah, TN 37363
      View Details
    • Value Estimation by Request
      3.18 Acres

      8030 Old Lee Hwy

      Land • 3.18 Acres
      8030 Old Lee Hwy, Ooltewah, TN 37363
      View Details
    • Value Estimation by Request
      4.52 Acres

      9013 Apison Pike

      Land • 4.52 Acres
      9013 Apison Pike, Ooltewah, TN 37363
      View Details
    • Value Estimation by Request
      1.80 Acres

      9719 Brainerd Rd

      Land • 1.80 Acres
      9719 Brainerd Rd, Ooltewah, TN 37363
      View Details
    • Value Estimation by Request
      0.99 Acres

      Mahan Gap Rd

      Land • 0.99 Acres
      0 Mahan Gap Rd, Ooltewah, TN 37363
      View Details

    Similar Nearby for Sale

    • $120,000
      1.42 Acres

      Land in Collegedale, Tennessee

      Land available in Collegedale, Tennessee, with potential for various uses.
      Moore Rd, Collegedale, TN 37363
      View Details
    • Contact for pricing

      60 Acres in Hamilton County

      60 acres of land suitable for houses or apartments.
      5406 Hunter Rd, Ooltewah, TN 37363
      View Details
    • $129,000
      2.65 Acres

      Unrestricted Land in Ooltewah, TN

      2.65-acre unrestricted parcel in Ooltewah, Tennessee, with endless potential.
      10910 Dolly Pond Rd, Ooltewah, TN 37363
      View Details
    • Contact for pricing

      Ooltewah Investment Opportunity

      23-unit property with development potential in a growing area.
      4748 Ranco Cir, Ooltewah, TN 37363
      View Details
    • New
      $400,000
      4.00 Acres

      Ooltewah Land with Development Potential

      Four-acre lot in Ooltewah, suitable for estate or development.
      6417 Ooltewah Georgetown Rd, Ooltewah, TN 37363
      View Details
    • Contact for pricing

      Prime Corner Parcel Near Interstate

      3.8 acre corner parcel near I-75 in Ooltewah, Tennessee.
      8080 Old Cleveland Pike, Ooltewah, TN 37363
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Ooltewah Retail Center Outparcels

      Retail outparcels in Publix-anchored center, Ooltewah, Tennessee.
      6037 Mountain View Rd, Ooltewah, TN 37363
      View Details
    • Contact for pricing

      Ooltewah, TN Outparcels For Lease

      Four outparcels available for ground lease in Ooltewah, TN.
      6049 Mountain View Rd, Ooltewah, TN 37363
      View Details
    • Contact for pricing

      Ooltewah, TN Outparcels For Lease

      Four outparcels available for ground lease in Ooltewah, TN.
      5982 Snow Hill Rd, Ooltewah, TN 37363
      View Details
    • $90,000

      Land for Retail Pads

      Land available for ground lease or build to suit.
      8035 Apison Pike, Ooltewah, TN 37363
      View Details
    • $15 SF/Yr

      Retail Space Near I-75

      Retail space in high-traffic area near I-75.
      6711 Mountain View Rd, Ooltewah, TN 37363
      View Details
    • Contact for pricing

      Furnished Office Space Available

      Furnished office space with security system and generator backup.
      8920 Transport Ln, Collegedale, TN 37363
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5937 Elementary Way
    Collegedale, TN 37363
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5937 Elementary Way, Collegedale, TN, 37363
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!