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    203 Main St Chattanooga, TN 37408-1483
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    Property profile & analytics

    203 Main St Chattanooga, TN 37408-1483

    View on Map
    • Investment properties
    • 24,153 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US80-1908201
    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
    $6,655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bollywood Tacos and Bar / Restaurant
    • Ria’s Mart / Grocery & Convenience Store
    • Vibrant Meals Southside / Restaurant
    • Dalton Daughtrey / Consultant
    • LibertyX Bitcoin ATM / Atm

    Property Details for 203 Main St

    Year built
    2019
    Lot size
    1.00 lot acres
    Property size
    24,153 SF
    Zone code
    C3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    145LDF 005
    APU
    145LDF005

    Description

    This exceptional 1,000 square foot retail space is ideally situated on East Main Street in the vibrant Southside area of Hamilton County. Currently operating as a thriving salon, this single-tenant property boasts a prime location surrounded by a diverse mix of restaurants, office spaces, and other high-end retail establishments, ensuring consistent high foot traffic. The property offers a private entrance for enhanced convenience and exclusivity. While the existing tenant is expanding, this presents a unique opportunity for a business seeking a well-established location with proven customer demographics. The property's accessibility is further enhanced by the proximity of a parking garage located within two blocks, offering convenient overflow parking options via passes. This turnkey retail space is ready for immediate occupancy and presents an excellent investment opportunity for a discerning business owner seeking a high-visibility location in a thriving commercial district. The space's 1,000 square feet provides ample room for a variety of retail uses. Its location within a bustling commercial area guarantees significant exposure to potential customers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,656,000
      Market price range: $1.74M - $7.92M
      AI Estimate
      $6,656,000
      Market price range: $1.74M - $7.92M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,370,000
      Current use
      RESTAURANT
      $8,420,000
      Change: +93% Conversion: Difficult
      MEDICAL BUILDING
      $6,000,000
      Change: +37% Conversion: Easy
      AUTO REPAIR, GARAGE
      $5,130,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.305
    Latitude
    35.0356
    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
    $37,118
    $0.00
    $0.00
    $1,659,040
    -
    $653,800
    $3,493,800
    $4,147,600

    Comparable in this City

    • Value Estimation
      $2,580,000
      12,740 SF

      45 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 12,740 SF
      45 Main St, Chattanooga, TN 37408-1242
      View Details
    • Value Estimation by Request
      6,760 SF

      39 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,760 SF
      39 Main St, Chattanooga, TN 37408-1210
      View Details
    • Value Estimation
      $3,680,000
      20,496 SF

      1401 Williams St

      OFFICE/RESIDENTIAL (MIXED USE) • 20,496 SF
      1401 Williams St, Chattanooga, TN 37408-1101
      View Details
    • Value Estimation
      $3,260,000
      25,784 SF

      400 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 25,784 SF
      400 Main St, Chattanooga, TN 37408-1311
      View Details
    • Value Estimation
      $6,650,000
      36,610 SF

      3210 Broad St

      BOARDING/ROOMING HOUSE • 36,610 SF
      3210 Broad St, Chattanooga, TN 37408-3059
      View Details
    • Value Estimation by Request
      0.23 Acres

      1912 Myrtle St

      VACANT COMMERCIAL LAND • 0.23 Acres
      1912 Myrtle St, Chattanooga, TN 37408-2143
      View Details

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      Furnished Townhome Investment Opportunity

      Turnkey, licensed short-term rental with impressive rental history.
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      Land in South Broad District

      Land suitable for retail in transforming South Broad District.
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    Similar Nearby for Lease

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      Office Space Near Downtown Chattanooga

      Office spaces available near downtown, walkable to amenities.
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      Former Filling Station with Canopy

      2100 SF building with 1500 SF canopy for lease.
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      Chattanooga Southside Retail Space Available

      Retail spaces available in Chattanooga's Southside landmark building.
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      Fenced Lot Available for Rent

      Fenced lot available for rent.
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    • Contact for pricing
      6,614 SF

      Chattanooga Southside Landmark Retail Space

      Retail space available in the landmark Bolt Building.
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    Chattanooga, TN 37408-1483
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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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