Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Warehouses
2108 Watkins St Chattanooga, TN 37404-5332
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US80-0034536
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Total area
5,499 SF
Lot
0.42 ac (18,450 SF)
Zoning code
M1
APN
156F J 023
UPID
US80-0034536
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
-
Basement And Crawlspace Solutions, A USS Company Construction Company General Contractor
-
Currey Contracting Co Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$588k
Blend (final)
Blend
$660k
Owner & transaction history
Justin L Mace · 6 yrs held
Justin L Mace
since 2020
Last sale
$800,000
4 recorded transactions
Zoning & alternative use
M1 · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$670,000
+83.2%
Commercial (general)
$655,000
+78.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chattanooga submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chattanooga submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$680,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
RETAIL STORES
$670,000
Change: +83% · Conversion: Moderate
COMMERCIAL (GENERAL)
$655,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $800k (Mar 12 2025)
Last sale anchor
$800k
Mar 12 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$120 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,590
Tax year 2023
Assessed value
$160,480
Assessed 2023
Previous assessed
$160,480
+0.0% YoY
Effective rate
2.24%
On assessed value
Land market value
$124,500
Improvement market value
$276,700
Total market value
$401,200
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
5,499 SF
Lot
0.42 ac (18,450 SF)
Zoning code
M1
APN
156F J 023
UPID
US80-0034536
Jurisdiction
HAMILTON
Zoning & alternative use
M1 · Chattanooga, TN
Zoning M1 · permitted uses
M1 · Chattanooga, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chattanooga. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$655,000
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Stories
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Justin L Mace
Individual
Mailing address
2108 S WATKINS ST, CHATTANOOGA, TN 37404-5332
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2020
$294,000
Justin L Mace
Tammy H Cobb
Warranty Deed
$235,200 · Millennium Bk
Nov 7, 2012
$181,500
Tammy H Cobb
Rap Properties LLC
Warranty Deed
$31,500 · Richard A JR Park
Aug 27, 2007
$240,000
Rap Properties LLC
Currey Contracting
Grant Deed
$208,076 · Capitalmark Bank & Trust
Feb 16, 2001
—
Currey Contracting Company
Currey,a O JR
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2108 Watkins St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
