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Property profile & analytics
OFF-MARKET Estimated value $2,045,000
Medical Office Space

1028 3rd St Chattanooga, TN 37403

15,008 SF 1.17 ac lot Built 1967
Entity Owned 7-yr Hold Free & Clear
Property ID
US80-0928314
Property summary
AI-generated overview

This exceptional investment opportunity presents a vacant, two-story medical/traditional office building totaling 15,008 square feet situated on a generous 1.47-acre lot in Chattanooga, Tennessee. Located at 1028 East 3rd Street, this Class C building, constructed in 1967, offers significant potential for redevelopment or immediate occupancy. The property's strategic location directly across from Erlanger Medical Center makes it highly desirable for medical practices or related businesses. The building is currently vacant, providing a blank canvas for a new owner to customize the space to their specific needs. With its substantial size and prime location, this property represents a compelling investment opportunity in a thriving Chattanooga market. An adjacent property, 1010 East Third Street, offering an additional 22,387 square feet on 1.67 acres, is also available for acquisition, allowing for the assembly of a combined parcel of approximately 3.44 acres. This presents a unique chance to expand the development potential significantly. The property's zoning and potential for expansion should be verified independently.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1967
Total area 15,008 SF
Lot 1.17 ac (50,965 SF)
Zoning code C3
APN 146A H 010
UPID US80-0928314
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Ratchford Misty D Registered General Nurse
  • Leah R. Lavigne, MS Physician
  • Dr. Angelina A. Supan, MD Physician
  • Robin M. Baker, LCSW Foster Care Service Social Service Agency
  • Talley Shirley Registered General Nurse
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.59M
Blend (final) Blend
$2.05M
Owner & transaction history
W2t One LLC · 7 yrs held
W2t One LLC
since 2018
7 recorded transactions
2025
Price N/A
2018
$2.1M
2018
Price N/A
2018
Price N/A
2011
$1.3M
2010
Price N/A
1999
Price N/A
Zoning & alternative use
C3 · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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