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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Office Spaces
5715 Cornelison Rd Chattanooga, TN 37411-5661
Individually Owned
2-yr Hold
Free & Clear
Property ID
US80-1593359
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1973
Total area
7,892 SF
Lot
1.25 ac (54,450 SF)
Zoning code
C2
APN
157M A 008.01
UPID
US80-1593359
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 Eye Institute Ophthalmologist
-
Long Ira M MD Ophthalmologist
-
Optical Ophthalmologist (Bike/Boat/Book/etc) Store
-
Bond III John B MD Physician
-
James Bell P.C. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.34M
Comparable Approach
Comparable
$922k
Blend (final)
Blend
$1.27M
Owner & transaction history
Neil Doherty III · 2 yrs held
Neil Doherty III
since 2023
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C2 · Chattanooga, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+122.7%
Auto repair, garage
$1.7M
+90.4%
Retail stores
$960,000
+8.9%
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
$1,730,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,450,000
6.5%
$1,340,000
7%
$1,245,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$880,000
Current use
MEDICAL BUILDING
$1,960,000
Change: +123% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,675,000
Change: +90% · Conversion: Difficult
RETAIL STORES
$960,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10% · vs last sale $1.35M (Nov 22 2023)
Last sale anchor
$1.35M
Nov 22 2023
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
$161 / 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
$5,548
Tax year 2023
Assessed value
$247,960
Assessed 2023
Previous assessed
$247,960
+0.0% YoY
Effective rate
2.24%
On assessed value
Land market value
$252,400
Improvement market value
$367,500
Total market value
$619,900
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1973
Heating
NONE
Stories
1
Total area
7,892 SF
Lot
1.25 ac (54,450 SF)
Zoning code
C2
APN
157M A 008.01
UPID
US80-1593359
Jurisdiction
HAMILTON
Zoning & alternative use
C2 · Chattanooga, TN
Zoning C2 · permitted uses
C2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$880,000
MEDICAL BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$960,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1973
Heating
NONE
Stories
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Neil Doherty III
Individual
Free & Clear · 2 yrs held
Mailing address
216 N GLENDORA AVE STE #200, GLENDORA, CA 91741-6925
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2023
$1,350,000
Neil Doherty III
Greenleaf Investment Partners L081
Limited Warranty Deed
—
Oct 30, 2023
—
Greenleaf Investment Partners L055
Greenleaf Investment Partners L081
Quit Claim Deed
related
—
Oct 13, 2023
—
Greenleaf Investment Partners L081
Greenleaf Investment Partners L055
Quit Claim Deed
related
—
Jun 8, 2021
—
Obc Properties Delaware LLC
—
Deed
related
$9,000,000 · Standard Insurance Co
Feb 15, 2021
$500,000
Rivermont Century LLC
Obc Properties LLC
Special Warranty Deed
—
Jun 19, 2015
—
Obc Properties Delaware LLC
Obc Properties LLC
Quit Claim Deed
related
$24,000,000 · Ladder Cap Fin
Mar 11, 2015
—
Obc Properties LLC
Osborne Building Corp
Quit Claim Deed
related
$3,500,000 · Aff Pool-eastgate LLC
Jan 8, 2014
—
6600 Building LLC
Osborne Building Corp
Quit Claim Deed
related
$750,000 · Cohutta Bkng
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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