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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Drug stores
3510 Ringgold Rd Chattanooga, TN 37412
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-3429296
Property summary
AI-generated overview
This exceptional redevelopment opportunity presents a 15,120 square foot, single-story, free-standing retail building currently occupied by Walgreens at 3510 Ringgold Road in Chattanooga, Tennessee. Situated on a 2.95-acre lot in the established East Ridge community, this property boasts significant frontage (396 feet) and depth (250 feet) along Ringgold Road, a high-traffic thoroughfare with a 2023 average daily vehicle count of 22,406. The building, constructed in 2000, features a drive-through and is zoned C2. The current lease with Walgreens allows for termination in 2026 and every five years thereafter through 2061, presenting a compelling investment opportunity for redevelopment. The property's location within a thriving community with average household incomes exceeding $76,000 within a five-mile radius ensures strong potential for future success. The property's parcel number is 168D C 010. This is a rare chance to acquire a significant retail asset in a prime Chattanooga location with substantial redevelopment potential. The building is currently 100% occupied.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2000
Total area
14,992 SF
Lot
2.95 ac (128,502 SF)
Zoning code
LB
APN
168D C 010
UPID
US80-3429296
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
$1.78M
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$1.93M
Owner & transaction history
Glenn Knox Properties LLC · 1 yrs held
Glenn Knox Properties LLC
since 2025
Last sale
$2.2M
4 recorded transactions
Zoning & alternative use
LB · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$3.2M
+193.6%
Commercial (general)
$1.6M
+44.6%
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%
$1,930,000
6.5%
$1,780,000
7%
$1,655,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,185,000
Change: +194% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,570,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10% · vs last sale $2.23M (Dec 20 2024)
Last sale anchor
$2.23M
Dec 20 2024
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
$129 / 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
$54,066
Tax year 2023
Assessed value
$1,545,640
Assessed 2023
Previous assessed
$1,545,640
+0.0% YoY
Effective rate
3.50%
On assessed value
Land market value
$1,477,800
Improvement market value
$2,386,300
Total market value
$3,864,100
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Total area
14,992 SF
Lot
2.95 ac (128,502 SF)
Zoning code
LB
APN
168D C 010
UPID
US80-3429296
Jurisdiction
HAMILTON
Zoning & alternative use
LB · Chattanooga, TNZoning LB · permitted uses
LB · Chattanooga, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2000
Heating
NONE
Stories
1
Lot
2.95 ac
Current owner
From public records · entity-resolved
Glenn Knox Properties LLC
Entity
Mailing address
2340 COLLINS AVE STE #700, MIAMI BEACH, FL 33139-1637
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2025
$2,225,000
Glenn Knox Properties LLC
Wbcmt 2006 C24 Ringgold Road LLC
Special Warranty Deed
$1,891,250 · First Horizon Bank
Apr 19, 2024
$2,206,000
Wbcmt 2006 C24 Ringgold Road LLC
Cole Wg East Ridge Tn LLC
Trustees Deed
related
—
Jul 26, 2006
$4,900,000
3508 Ringgold Realty LLC
Cole Wg East Ridge Tn LLC
Grant Deed
—
Nov 22, 2005
$4,518,000
Cole Wg East Ridge Tn LLC
Osborne Building Corp
Warranty Deed
$3,614,000 · Wachovia Bank NA
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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