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Property profile & analytics
OFF-MARKET
Estimated value
$8,775,000
Industrial properties
2204 Encompass Dr Chattanooga, TN 37421-1574
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-1620488
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
2003
Total area
56,720 SF
Lot
4.7 ac (204,732 SF)
Zoning code
C2
APN
138O B 001.15
UPID
US80-1620488
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.64M
Comparable Approach
Comparable
$6.99M
Blend (final)
Blend
$8.78M
Owner & transaction history
Excelsior Friars Crossing LLC · 5 yrs held
Excelsior Friars Crossing LLC
since 2021
Last sale
$10.4M
7 recorded transactions
Zoning & alternative use
C2 · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$13.8M
+26.8%
Auto repair, garage
$12.0M
+11.0%
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
$8,250,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,435,000
6.5%
$9,635,000
7%
$8,945,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,850,000
Current use
MEDICAL BUILDING
$13,760,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,045,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$8.78M
Range $7.90M – $9.65M · ±10% · vs last sale $10.40M (May 14 2025)
Last sale anchor
$10.40M
May 14 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
$155 / 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
$29,649
Tax year 2023
Assessed value
$1,325,200
Assessed 2023
Previous assessed
$1,325,200
+0.0% YoY
Effective rate
2.24%
On assessed value
Land market value
$655,100
Improvement market value
$2,657,900
Total market value
$3,313,000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
2003
Heating
NONE
Buildings
3
Stories
1
Total area
56,720 SF
Lot
4.7 ac (204,732 SF)
Zoning code
C2
APN
138O B 001.15
UPID
US80-1620488
Jurisdiction
HAMILTON
Zoning & alternative use
C2 · Chattanooga, TN
Zoning C2 · permitted uses
C2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$10.9M
MEDICAL BUILDING
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$12.0M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2003
Heating
NONE
Stories
1
Buildings
3
Lot
4.7 ac
Current owner
From public records · entity-resolved
Excelsior Friars Crossing LLC
Entity
Mailing address
104 WOODMONT BLVD STE #203, NASHVILLE, TN 37205-2245
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
30 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2021
$8,478,750
Excelsior Friars Crossing LLC
Spirit Holdings LLC
Warranty Deed
$5,935,000 · Key Bank NA
Apr 18, 2017
$2,275,000
Spirit Holdings LLC
Granite Friars Branch Holdings
Grant Deed
—
Sep 24, 2014
$4,510,409
Granite Friars Branch Holdings LLC
Wells Fargo Bank NA
Special Warranty Deed
$3,417,684 · Wells Fargo Bank NA
Sep 19, 2011
$5,000,000
Wells Fargo Bank NA 2005-4
Goodrich,robert C JR
Trustees Deed
related
—
Jul 8, 2005
$194,915
Crossing Gottschalk-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 29, 2005
$1,227,640
Herb Orch Friars Br Crossing Ll
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 28, 2005
$500,366
Burton-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 28, 2005
$649,489
Brown-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 28, 2005
$1,011,501
Crossing Ll Rollins-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 28, 2005
$1,141,831
Grandinetti-friars Br Crossin
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 28, 2005
$485,528
Ralph C Treebs-friars Br Cros
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$568,632
Magnan-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$525,242
Kerr-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$835,275
A Copenhaver-friars Br Crossi
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$663,433
Rivera-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$565,168
Gross-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$529,962
Crossing L Barthule-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$342,549
Crossing Ll Gallant-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$570,915
Crossing L Hamilton-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$1,141,831
Bailey-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$263,607
P Kirsch-friars Br Crossing L
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$525,125
Gordon-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$404,169
Odyssey 2000-friars Br Crossi
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$1,278,851
Crossing Kasimatis-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$498,653
Crossing L Garofalo-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$609,262
Crossing Ll Brunner-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$228,366
Mohme-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$456,732
Crossing L Johnnys-friars
Dbsi Friars Br Crossing LLC
Grant Deed
—
Jun 15, 2005
$685,098
Kubly-friars Br Crossing LLC
Dbsi Friars Br Crossing LLC
Grant Deed
—
—
—
Granite Friars Br Holdings LLC
—
Deed Of Trust
related
$64,900,000 · Citizens Bk
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.
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