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    Property profile & analytics

    23 Courthouse Sq Jasper, TN 37347-3531

    • Office Properties & Spaces
    • 4,998 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2023
    $35,000
    Value Estimations
    $130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0325398
    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

    • Blevins & Blevins / Law Firm

    Property Details for 23 Courthouse Sq

    Year built
    1912
    Lot size
    0.13 lot acres
    Property size
    4,998 SF
    Property type
    Office Properties & Spaces
    APN
    058107P B 03100
    APU
    058107PB03100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jasper
    County
    Marion
    State
    Tennessee
    Longitude
    -85.6251
    Latitude
    35.075
    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
    2022
    $1,420
    $20,000
    $46,840
    $66,840
    -
    $50,000
    $117,100
    $167,100

    Comparable in this City

    • Value Estimation
      $180,000
      1,540 SF

      32 Courthouse Sq

      OFFICE (GENERAL) • 1,540 SF
      32 Courthouse Sq, Jasper, TN 37347-3530
      View Details
    • Value Estimation
      $175,000
      1,120 SF

      32 Courthouse Sq

      OFFICE (GENERAL) • 1,120 SF
      32 Courthouse Sq, Jasper, TN 37347-3530
      View Details
    • Value Estimation
      $180,000
      2,132 SF

      307 Betsy Pack Dr

      OFFICE (GENERAL) • 2,132 SF
      307 Betsy Pack Dr, Jasper, TN 37347-3317
      View Details
    • Value Estimation
      $215,000
      1,680 SF

      1395 Main St

      OFFICE (GENERAL) • 1,680 SF
      1395 Main St, Kimball, TN 37347-5500
      View Details
    • Value Estimation
      $340,000
      5,247 SF

      7133 Hwy 41

      OFFICE (GENERAL) • 5,247 SF
      7133 Hwy 41, Jasper, TN 37347-7127
      View Details
    • Value Estimation
      $350,000
      2,446 SF

      1960 Main St

      OFFICE (GENERAL) • 2,446 SF
      1960 Main St, Kimball, TN 37347-5607
      View Details

    Similar Nearby for Sale

    • $215,000
      2,754 SF

      Jasper Main Street Office Building

      Prime Jasper Office, Two Units, $215K
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    • $105,000
      1.11 Acres

      Jasper Highlands Wooded Lot

      1.11 acre wooded lot in Jasper Highlands gated community.
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    • $89,500
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      Residential Land in Gated Community

      Land for dream home with amenities near Chattanooga.
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    • $55,000
      0.81 Acres

      Land in Kimball, Tennessee

      Residential land suitable for building a dream home or investment.
      3 Timber Ridge Dr, Kimball, TN 37347
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    • $60,000
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      Residential Land with Scenic Views

      Residential land in established neighborhood, convenient location, utilities available.
      Derek Dr, Jasper, TN 37347
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    • $92,000
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      Jasper Highlands Mountain-Top Lot

      1.64-acre lot in Jasper Highlands with nature preserve backdrop.
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    Similar Nearby for Lease

    • $17 SF/Yr
      2,000 SF

      Professional Office Suite in Jasper

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      502 Westfield Pl, Jasper, TN 37347
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    • $29 SF/Yr
      3,248 SF

      Restaurant Space Near Interstate I-24

      Restaurant property for lease near I-24 in Kimball, Tennessee.
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      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Kimball Crossing

      Retail space available in Kimball Crossing with high visibility.
      525 Kimball Crossing Dr, Kimball, TN 37347
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    • $7 SF/Yr
      16,368 SF

      Jasper Retail Opportunity

      16,368 SF Retail Building, Jasper, TN
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    • Contact for pricing

      Kimball, TN Commercial Land Opportunity

      Prime 0.97-acre lot, I-24 visibility.
      545 Main St, Jasper, TN 37347
      View Details
    • Contact for pricing

      Land with Interstate Visibility

      Commercial land available for rent with high visibility.
      300 Kimball Crossing Dr, Kimball, TN 37347
      View Details
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    Jasper, TN 37347-3531
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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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