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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Warehouses
24 28th St Chattanooga, TN 37408-3000
Entity Owned
1-yr Hold
Free & Clear
Property ID
US80-0936678
Property summary
AI-generated overview
This exceptional free-standing industrial building, located at 24 W 28th Street in Chattanooga, Tennessee, offers a unique blend of warehouse and flex space, ideal for a variety of businesses. The 8,000 square foot building sits on approximately one acre of land and features a single story design with convenient access. The property boasts 6,400 square feet of warehouse space complemented by 1,600 square feet of office area. Two 12' x 12' drive-in doors, along with a dock door, ensure efficient loading and unloading. High ceilings, reaching 17'15" at the eaves, provide ample vertical space. Additional features include a mezzanine for extra storage, a fenced and gated yard providing secure outdoor storage, and a front parking lot. The property is zoned M1 and its Hamilton County APN is 155C L 001.03. Its prime location, directly off I-24 exit 180A on the south end of downtown Chattanooga, offers unparalleled accessibility. Available November 2024. This rare combination of features makes this property a highly desirable investment opportunity.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Total area
8,000 SF
Lot
1.76 ac (76,666 SF)
APN
155C L 001.03
UPID
US80-0936678
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
-
Gladden Equipment Company Inc. Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$565k
Owner & transaction history
24 W 28th Street LLC · 1 yrs held
24 W 28th Street LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$665,000
Current use
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
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
$71 / 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
$3,099
Tax year 2023
Assessed value
$138,520
Assessed 2023
Previous assessed
$138,520
+0.0% YoY
Effective rate
2.24%
On assessed value
Land market value
$138,800
Improvement market value
$207,500
Total market value
$346,300
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
1986
Heating
NONE
Stories
1
Total area
8,000 SF
Lot
1.76 ac (76,666 SF)
APN
155C L 001.03
UPID
US80-0936678
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$665,000
WAREHOUSE, STORAGE Current
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
1986
Heating
NONE
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
24 W 28th Street LLC
Entity
Free & Clear · 1 yrs held
Mailing address
24 W 28TH ST, CHATTANOOGA, TN 37408-3000
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2024
$775,000
24 W 28th Street LLC
Jerry Gladden
Warranty Deed
—
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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