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    7118 Garfield Rd Harrison, TN 37341
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    Property profile & analytics

    7118 Garfield Rd, Harrison, TN 37341

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    • Commercial real estate
    • 48.00 lot acres
    Off-Market
    Property ID
    US80-1478413
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 7118 Garfield Rd

    Lot size
    48.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 48-55 acre property presents a remarkable investment opportunity in Harrison, Tennessee. Located at 7118 Garfield Rd, 37341, this mostly level, cleared land offers unparalleled potential for diverse development. Its agricultural and residential zoning allows for a variety of uses, from a new residential subdivision to a private estate. Situated in the heart of Harrison, this land enjoys convenient proximity to Ooltewah and Chattanooga, Tennessee, benefiting from the rapid growth and increasing demand for housing in these thriving communities. The property's strategic location near major employment centers, including the Volkswagen Plant and an Amazon Distribution Center, further enhances its appeal to potential homeowners. Future residents will appreciate easy access to amenities such as Cambridge Square in Ooltewah for shopping and dining, and Harrison Bay for recreational activities like fishing and boating. Priced under $25,000 per acre, this land represents an exceptional value for developers and individuals seeking a substantial property in a desirable location. The property's size and location make it ideal for both large-scale development projects and the creation of a spacious private retreat. This is a truly unique opportunity to acquire a significant land holding in a rapidly growing area of Hamilton County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.1130352
    Latitude
    35.1158638

    Comparable in this City

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      5 acres with 250' waterfront on Lake Chickamauga.
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      Waterfront Land with Deep Water Access

      5+ acre waterfront land with over 200' deep water frontage.
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    • $149,000
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      Harrison, TN 1.59 Acre Lot

      1.59 acre lot in Harrison, TN near Harrison Bay.
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    • $1,300,000
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      Waterfront Land on Lake Chickamauga

      5 acres of waterfront land on Lake Chickamauga.
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    • $149,000
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      Harrison, TN Acreage For Sale

      1.59 acre lot in the heart of Harrison, Tennessee.
      6041 Shirley Pond Rd, Harrison, TN 37341
      View Details

    Similar Nearby for Sale

    • $7,600,000
      56,640 SF

      Income Producing Duplex Portfolio

      22 Duplexes (44 doors) on a single street.
      8498 Shawn Rdg Rd, Harrison, TN 37341
      View Details
    • $900,000
      5.04 Acres

      Waterfront Land on Lake Chickamauga

      5 acres with 250' waterfront on Lake Chickamauga.
      Pearson Rd, Harrison, TN 37341
      View Details
    • $1,000,000
      5.30 Acres

      Waterfront Land with Deep Water Access

      5+ acre waterfront land with over 200' deep water frontage.
      Pearson Rd, Harrison, TN 37341
      View Details
    • $1,300,000
      5.06 Acres

      Waterfront Land on Lake Chickamauga

      5 acres of waterfront land on Lake Chickamauga.
      Pearson Rd, Harrison, TN 37341
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    • $475,000
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      Harrison TN Waterfront Land

      3.5 acres with 350 ft of Tennessee River waterfrontage.
      6613 Harrison Bay Rd, Harrison, TN 37341
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    • $1,000,000
      6.98 Acres

      Waterfront Land on Lake Chickamauga

      6.98 acres with 211' waterfront on Lake Chickamauga.
      Pearson Rd, Harrison, TN 37341
      View Details
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    Harrison, TN 37341
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    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
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