Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3002 Jersey Pike Chattanooga, TN 37421-6208

    • Manufacturing properties
    • 143,280 SF
    • 15.63 lot acres
    OFF-MARKET
    Value Estimations
    $14,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3544861
    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

    • Wrigley Manufacturing Co / Industrial Manufacturer / Production Facility

    Property Details for 3002 Jersey Pike

    Year built
    1974
    Lot size
    15.63 lot acres
    Property size
    143,280 SF
    Zone code
    M1
    Property type
    Manufacturing properties
    APN
    138I A 002.01L000
    APU
    138IA00201L000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,326,000
      Market price range: $3.08M - $14.3M
      AI Estimate
      $14,326,000
      Market price range: $3.08M - $14.3M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $8,935,000
      Current use
      RETAIL STORES
      $19,295,000
      Change: +116% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.1968
    Latitude
    35.0575
    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
    $71,225
    $0.00
    $0.00
    $3,183,520
    -
    $1,046,400
    $6,912,400
    $7,958,800

    Comparable in this City

    • Value Estimation by Request
      7.50 Acres

      Jersey Pike

      PROCESSING PLANT (CEMENT, GRAVEL) • 7.50 Acres
      Jersey Pike, Chattanooga, TN 37421
      View Details
    • Value Estimation
      $4,145,000
      67,964 SF

      5912 Quintus Loop

      MANUFACTURING (LIGHT) • 67,964 SF
      5912 Quintus Loop, Chattanooga, TN 37421-2216
      View Details
    • Value Estimation
      $5,115,000
      82,000 SF

      3093 Hickory Vly Rd

      HEAVY MANUFACTURING • 82,000 SF
      3093 Hickory Vly Rd, Chattanooga, TN 37421
      View Details
    • Value Estimation by Request
      1,414 SF

      1708 Chickamauga Loop

      MANUFACTURING (LIGHT) • 1,414 SF
      1708 Chickamauga Loop, Chattanooga, TN 37421-2226
      View Details
    • Value Estimation
      $3,545,000
      100,593 SF

      4215 Cromwell Rd

      MANUFACTURING (LIGHT) • 100,593 SF
      4215 Cromwell Rd, Chattanooga, TN 37421-2121
      View Details
    • Value Estimation
      $32,645,000
      523,520 SF

      3063 Hickory Vly Rd

      HEAVY MANUFACTURING • 523,520 SF
      3063 Hickory Vly Rd, Chattanooga, TN 37421-1266
      View Details

    Similar Nearby for Sale

    • $995,000
      2,080 SF

      Lee Hwy & Hickory Valley Rd. Retail Opportunity

      1.3-Acre C-2 Zoned Retail Property in Chattanooga
      6795 Lee Hwy, Chattanooga, TN 37421
      View Details
    • $286,350

      Office Warehouse Condo For Sale

      Office warehouse condo with easy access to I-75.
      7161 Lee Hwy, Chattanooga, TN 37421
      View Details
    • $449,000
      1.00 Acre

      Chattanooga Airport Commercial Lot

      Prime 1-acre corner lot, redevelopment opportunity.
      713 Airport Rd, Chattanooga, TN 37421
      View Details
    • $105,000
      0.18 Acres

      Land on High-Traffic Road

      Prime real estate with excellent visibility in Chattanooga, Tennessee.
      8512 E Brainerd Rd, Chattanooga, TN 37421
      View Details
    • $59,000
      0.76 Acres

      Residential Lot in Stone Henge

      0.76 acre wooded lot in established Stone Henge.
      4746 Buckingham Dr, Chattanooga, TN 37421
      View Details
    • $299,000
      0.39 Acres

      Chattanooga Land in Golf Community

      Residential lots in Council Fire Golf Course Community.
      415 Council Crk Ln, Chattanooga, TN 37421
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Versatile Flex-Space Business Park

      Office and office/warehouse suites available in convenient location.
      2100 Chapman Rd, Chattanooga, TN 37421
      View Details
    • $13 SF/Yr
      22,000 SF

      Chattanooga Office & Warehouse Space

      Versatile industrial flex space, ideal for businesses.
      4295 Cromwell Rd, Chattanooga, TN 37421
      View Details
    • Contact for pricing
      19,500 SF

      Office and Warehouse Space Available

      Office and warehouse space with convenient highway access and parking.
      6228 Perimeter Dr, Chattanooga, TN 37421
      View Details
    • $24 SF/Yr
      33,758 SF

      Chattanooga Class A Office Building

      Prime Chattanooga office space, multiple suites available.
      1200 Pointe Center Dr, Chattanooga, TN 37421
      View Details
    • Contact for pricing
      1,160,815 SF

      Hamilton Place Mall Retail Space

      Prime Chattanooga retail & mixed-use opportunity.
      2130 Hamilton Place Blvd, Chattanooga, TN 37421
      View Details
    • $24 SF/Yr
      40,000 SF

      Chattanooga Executive Office Suites

      Class A Office Space, Ample Parking
      1208 Pointe Center Dr, Chattanooga, TN 37421
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3002 Jersey Pike
    Chattanooga, TN 37421-6208
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!