Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    103 Patten Chapel Rd Chattanooga, TN 37419-1519
    Back to Search
    Property profile & analytics

    103 Patten Chapel Rd, Chattanooga, TN 37419-1519

    View on Map
    • Motels
    • 14,928 SF
    • 0.52 lot acres
    Off-Market
    Property ID
    US80-1470005
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,635,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Americas Best Value Inn & Suites Lookout Mountain W / Hotel & Motel
    • Studio 6 Suites Chattanooga, TN - Lookout Mtn. / Hotel & Motel / Vacation Rental

    Property Details for 103 Patten Chapel Rd

    Year built
    1989
    Lot size
    0.52 lot acres
    Zone code
    C1
    Property type
    Motels
    APN
    144N D 015
    APU
    144ND015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 7, 2020 — Bmrr LP — Deed · related $696k · Millennium Bk
    Apr 1, 2020 — Bmrr LP — Deed · related $692k · Millennium Bk
    Aug 15, 2019 — Bmrr LP — Trustees Deed · related $1.5M · Millenium Inv Grp
    May 4, 2018 — Bmrr LP — Deed · related $750k · Millennium Bk
    Oct 1, 2002 — Bmrr LP Patel,r Grant Deed · related —
    May 3, 1993 $700,000 Ravindra V Patel Unknown Grant Deed —
    — — Bmrr LP — Loan Modification · related $692k · Millennium Bk
    — — Bmrr LP — Loan Modification · related $750k · Millennium Bk
    — — Bmrr LP — Loan Modification · related $696k · Millennium Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,633,000
      Market price range: $622k - $2.43M
      AI Estimate
      $1,633,000
      Market price range: $622k - $2.43M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,510,000
      Current use
      COMMERCIAL (GENERAL)
      $2,235,000
      Change: +48% Conversion: Difficult
      RETAIL STORES
      $1,815,000
      Change: +20% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.3619
    Latitude
    35.0291
    CBSA code
    16860
    CBSA name
    CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,126
    $0.00
    $0.00
    $631,400
    -
    $271,200
    $1,307,300
    $1,578,500

    Comparable in this City

    • Value Estimation by Request
      36,986 SF

      3117 Parker Ln

      MOTEL
      3117 Parker Ln, Chattanooga, TN 37419-1708
      View Details
    • Value Estimation
      $1,175,000
      7,227 SF

      3801 Cummings Hwy

      MOTEL
      3801 Cummings Hwy, Chattanooga, TN 37419-2201
      View Details
    • Value Estimation
      $1,655,000
      16,236 SF

      150 Browns Fry Rd

      MOTEL
      150 Browns Fry Rd, Chattanooga, TN 37419-1705
      View Details
    • Value Estimation by Request
      2,198 SF

      2501 Cummings Hwy

      MOTEL
      2501 Cummings Hwy, Chattanooga, TN 37419-1813
      View Details
    • Value Estimation
      $2,060,000
      23,896 SF

      3109 Parker Ln

      MOTEL
      3109 Parker Ln, Chattanooga, TN 37419-1708
      View Details
    • Value Estimation
      $1,775,000
      10,890 SF

      30 Birmingham Hwy

      MOTEL
      30 Birmingham Hwy, Chattanooga, TN 37419-2371
      View Details

    Similar Nearby for Sale

    • $565,000
      1.50 Acres

      Residential Land in Black Creek

      1.5 acre lot in desirable golf community with mountain views.
      3271 River Gorge Dr, Chattanooga, TN 37419
      View Details
    • $479,900
      0.76 Acres

      Renovated Duplex with Development Potential

      Renovated duplex on 0.75 acres with development potential.
      356 Browns Ferry Rd, Chattanooga, TN 37419
      View Details
    • Contact for pricing
      53,723 SF

      Prime Retail Location in Chattanooga

      High-visibility retail space near Hwy 24, ideal for diverse businesses.
      321 Browns Ferry Rd, Chattanooga, TN 37419
      View Details
    • Contact for pricing
      Pending

      7 Acres Prime Industrial Land

      7 acres of M-1 zoned industrial land ready for development.
      3422 Cummings Rd, Chattanooga, TN 37419
      View Details
    • $330,000
      0.57 Acres

      Wooded Lot in Black Creek

      0.57-acre wooded lot for custom home in Chattanooga.
      4853 Ravinia Ln, Chattanooga, TN 37419
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High-Traffic Retail Strip Center

      Highly visible retail space with easy access and ample parking.
      321 Browns Ferry Rd, Chattanooga, TN 37419
      View Details
    • Contact for pricing

      Restaurant Space Near Interstate I-24

      Restaurant space available near I-24 and downtown.
      3805 Cummings Hwy, Chattanooga, TN 37419
      View Details
    • Contact for pricing

      Expandable Storage Lot For Rent

      Empty storage lot for rent, expandable up to 15 acres.
      3818 Cummings Hwy, Chattanooga, TN 37419
      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.
    103 Patten Chapel Rd
    Chattanooga, TN 37419-1519
    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
    103 Patten Chapel Rd, Chattanooga, TN, 37419
    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!