Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    19 Patten Pkwy Chattanooga, TN 37402-2211

    • Office Properties & Spaces
    • 38,048 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2023
    $4,700,000
    Value Estimations
    $4,875,000
    Show details
    Cap Rate Potential
    7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US80-3137977
    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.

    Current Use by Public Records

    • Paty, Rymer, Ulin, & Larramore, P.C. / Law Firm
    • Paty, Rymer, and Ulin P.C. / Law Firm
    • Paty Rymer & Ulin PC: Paty Charles D / Law Firm
    • Pamela R. O'Dwyer / Law Firm

    Property Details for 19 Patten Pkwy

    Year built
    1900
    Lot size
    0.48 lot acres
    Property size
    38,048 SF
    Zone code
    C3
    Property type
    Office Properties & Spaces
    APN
    145D V 028
    APU
    145DV028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,025,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,000,000
      6.5%
      $6,460,000
      7%
      $6,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,678,000
      Market price range: $2.01M - $14.3M
      AI Estimate
      $3,678,000
      Market price range: $2.01M - $14.3M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,315,000
      Current use
      AUTO REPAIR, GARAGE
      $8,080,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.307
    Latitude
    35.0462
    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
    $21,764
    $0.00
    $0.00
    $972,760
    -
    $835,200
    $1,596,700
    $2,431,900

    Comparable in this City

    • Value Estimation by Request
      29,800 SF

      1401 Fort St

      Wedding venues • 29,800 SF
      1401 Fort St, Chattanooga, TN 37402
      View Details
    • Value Estimation by Request
      3,240 SF

      108 7th St

      OFFICE (GENERAL) • 3,240 SF
      108 7th St, Chattanooga, TN 37402-1903
      View Details
    • Value Estimation by Request
      2,189 SF

      800 Market St

      OFFICE (GENERAL) • 2,189 SF
      800 Market St, Chattanooga, TN 37402-2632
      View Details
    • Value Estimation
      $615,000
      3,472 SF

      800 Market St

      OFFICE (GENERAL) • 3,472 SF
      800 Market St, Chattanooga, TN 37402-2632
      View Details
    • Value Estimation
      $21,280,000
      166,811 SF

      200 Martin Luther King Blvd

      OFFICE (GENERAL) • 166,811 SF
      200 Martin Luther King Blvd, Chattanooga, TN 37402-2560
      View Details
    • Value Estimation
      $21,370,000
      133,414 SF

      100 Martin Luther King Blvd

      OFFICE (GENERAL) • 133,414 SF
      100 Martin Luther King Blvd, Chattanooga, TN 37402-2540
      View Details

    Similar Nearby for Sale

    • $7,000,000
      29,800 SF

      Turnbull Building: Historic Charm

      Chattanooga Mixed-Use Gem: $7M
      1401 Fort St, Chattanooga, TN 37402
      View Details
    • $383,205
      1,299 SF

      Chattanooga Office Suite C

      Downtown Chattanooga commercial condo
      707 Georgia Ave, Chattanooga, TN 37402
      View Details
    • $648,440
      2,236 SF

      Flatiron Building Suite G, Chattanooga

      Historic Downtown Office Condo, 2236 sq ft
      707 Georgia Ave, Chattanooga, TN 37402
      View Details
    • $2,500,000
      7,660 SF

      Downtown Chattanooga Retail/Office Asset

      Prime retail/office space in downtown Chattanooga with redevelopment potential.
      200 Market St, Chattanooga, TN 37402
      View Details
    • $2,900,000
      Pending

      Cameron Harbor Land For Sale

      1.3 acres in Cameron Harbor with ten boat slips.
      508 Molly Ln, Chattanooga, TN 37402
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      17,000 SF

      728 Market Street Office Suites

      Downtown Chattanooga Office & Retail Space
      728 Market St, Chattanooga, TN 37402
      View Details
    • $22 SF/Yr
      3,680 SF

      Historic James Building, Chattanooga

      Prestigious Office Suites, Downtown Chattanooga
      735 Broad St, Chattanooga, TN 37402
      View Details
    • $24 SF/Yr
      12,576 SF

      Downtown Chattanooga Office Space

      1,550 SF Office Suite Available
      1001 Carter St, Chattanooga, TN 37402
      View Details
    • $18 SF/Yr
      12,000 SF

      Downtown Chattanooga Office Space

      Historic building, flexible suites, prime location
      111 7Th St, Chattanooga, TN 37402
      View Details
    • $11 SF/Yr
      12,000 SF

      Downtown Chattanooga Office Space

      12,000 SF Office Building, 3,960 SF Available
      430 Market St, Chattanooga, TN 37402
      View Details
    • $16 SF/Yr
      106,000 SF

      Fleetwood Building

      Office space • 106,000 SF
      232 11Th St, Chattanooga, TN 37402
      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.
    19 Patten Pkwy
    Chattanooga, TN 37402-2211
    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

    Google sign-in failed. Please try again or use another login method.