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Property profile & analytics
OFF-MARKET
Estimated value
$4,660,000
Medical Office Space
440 Holtzclaw Ave Chattanooga, TN 37404-1916
Entity Owned
4-yr Hold
Free & Clear
Property ID
US80-0695193
Property summary
AI-generated overview
This exceptional medical office building, located at 440 N Holtzclaw Ave in Chattanooga, Tennessee, offers a fantastic leasing opportunity. The property boasts a total of 12,535 square feet, situated on a spacious 2.07-acre lot. Built in 1985, the building is zoned R4 and provides ample parking with 40 spaces available. Multiple tenancy options exist, with spaces ranging from a minimum of 2,126 square feet to a maximum contiguous space of 3,288 square feet. This presents a unique opportunity for medical practices seeking flexible and adaptable space to meet their specific needs. The building's location within Chattanooga's medical district offers unparalleled convenience, situated within two miles of the three major hospital systems: Erlanger, CHI Memorial, and Parkridge. This prime location ensures high visibility and easy access for patients and staff. The property's features make it an ideal setting for a variety of medical practices seeking a well-established and conveniently located office space in a thriving healthcare hub. Hamilton County location and 37404 zip code offer easy access to major transportation routes. Inquire today to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Total area
12,708 SF
Lot
2.07 ac (90,169 SF)
Zoning code
R4
APN
146B P 002
UPID
US80-0695193
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
-
Chattanooga Imaging Downtown Medical Clinic
-
Amir Byson Towing Corp. Auto Repair Shop
-
NATHAN BRANTLEY WYATT Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.67M
Blend (final)
Blend
$4.66M
Owner & transaction history
Chattanooga 440 Rik Mp LLC · 4 yrs held
Chattanooga 440 Rik Mp LLC
since 2021
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
R4 · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+40.3%
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
$5,905,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,155,000
Current use
RESTAURANT
$4,430,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$4.66M
Range $4.19M – $5.13M · ±10% · vs last sale $4.65M (Aug 23 2021)
Last sale anchor
$4.65M
Aug 23 2021
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
$367 / 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
$31,939
Tax year 2023
Assessed value
$1,427,560
Assessed 2023
Previous assessed
$1,427,560
+0.0% YoY
Effective rate
2.24%
On assessed value
Land market value
$608,600
Improvement market value
$2,960,300
Total market value
$3,568,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Heating
YES
Stories
1
Total area
12,708 SF
Lot
2.07 ac (90,169 SF)
Zoning code
R4
APN
146B P 002
UPID
US80-0695193
Jurisdiction
HAMILTON
Zoning & alternative use
R4 · Chattanooga, TN
Zoning R4 · permitted uses
R4 · Chattanooga, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chattanooga. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.2M
RESTAURANT
Est. value
$4.4M
MEDICAL BUILDING Current
RESTAURANT
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
1985
Heating
YES
Stories
1
Lot
2.07 ac
Current owner
From public records · entity-resolved
Chattanooga 440 Rik Mp LLC
Entity
Free & Clear · 4 yrs held
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2021
$4,650,000
Chattanooga 440 Rik Mp LLC
Chattanooga 440 Medical Properties
Special Warranty Deed
—
Jul 13, 2017
$3,650,000
Chattanooga 440 Medical Properis Ll
Plaza Development Company LLC
Limited Warranty Deed
$7,700,000 · First Tennessee Bank NA
Sep 17, 2013
$1,575,000
Plaza Development Company LLC
Mn Mq LLC
Limited Warranty Deed
$1,338,750 · First Tennesse Bank National Assn
Jun 5, 2007
$1,237,425
Mn Mq LLC
Image Properties LLC
Special Warranty Deed
$13,570,000 · Wachovia Bank NA
Apr 14, 1998
$718,315
Image Properties LLC
—
Grant Deed
related
—
Nov 28, 1997
$706,800
Medical Imaging Of Chattan
—
Grant Deed
related
—
Feb 9, 1996
$489,775
Chattanooga Medical Imaging Ll
Health Images In
Grant Deed
$1,050,000 · First American National Bank
Nov 13, 1995
$489,775
Chattanooga Medical Imagin
Chattanooga,medi
Grant Deed
related
—
Apr 13, 1995
$1,352,564
Health Images INC
Health,images In
Grant Deed
related
—
Apr 3, 1992
$2,000,000
Imageamerica Of Chatt INC
Unknown
Grant 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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