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308 W 47Th St Chattanooga, TN 37410

Warehouses Google Maps
107,772 SF 44.5 ac lot Built 1940
Entity Owned 3-yr Hold Free & Clear
Estimated value (blended)
$2.80M
Range $2.52M – $3.07M (±10%)
Property ID US80-2523478

Property summary

AI-generated overview

Prime commercial and industrial land for lease near St. Elmo, offering two distinct parcels ideal for storage or drop yard operations. Parcel 1 encompasses 2.7 acres, featuring a fully paved surface, complete perimeter fencing, and three gated entrances for convenient access and security. Parcel 2, measuring 1.7 acres, is a gravel lot also fully fenced, situated directly adjacent to Parcel 1. Both parcels are available for lease individually or together, at a rate of $1,500 per acre per month. Crucially, these lots cannot be further subdivided. Lease terms are structured for a 12-month period, with a mutual six-month option for extension. An existing vacant office building on the property is not included in the lease agreement for these lots but is available for separate negotiation. The property's APN numbers are 167F A 001 and 167F B 016. The combined acreage available totals between 1.7 and 4.7 acres, providing ample space for various commercial and industrial uses. This exceptional location offers easy access and visibility, making it an attractive opportunity for businesses seeking secure and convenient storage solutions.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1940
Total area 107,772 SF
Lot 44.5 ac (1,938,420 SF)
Zoning code M1
APN 167F A 001
UPID US80-2523478

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.76M
Blend (final) Blend
$2.80M

Owner & transaction history

since 2023
Last sale
$2.8M
7 recorded transactions
2025
Price N/A
2023
$2.8M
2023
Price N/A
2021
$600,000
2011
$211,000
2010
$825,000
2006
$1.5M

Zoning & alternative use

M1 · Chattanooga, TN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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