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    9515 Lee Hwy Ooltewah, TN 37363-6550

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    9515 Lee Hwy Ooltewah, TN 37363-6550

    View on Map
    • Retail space
    • 29,836 SF
    • 4.54 lot acres
    Off-Market
    Last Sale Mar 30, 2022
    $2,100,000
    Property ID
    US80-2012180
    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
    $2,165,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kovsk Digital / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Expert Services / HVAC Service / General Contractor
    • Tri-Community Volunteer Fire Department Station 4 / Fire Station
    • JamSessions Productions LLC / Film Production / Television Studio
    • Ship Store / Courier Service / Postal Service

    Property Details for 9515 Lee Hwy

    Year built
    1981
    Lot size
    4.54 lot acres
    Property size
    29,836 SF
    Property type
    Retail space
    APN
    132 027.01
    APU
    13202701

    Description

    Oakies Plaza, located at 9515 Lee Hwy in Ooltewah, Tennessee 37363, offers exceptional office and retail space in a rapidly growing area of Hamilton County. This property features a blend of traditional and creative office spaces, perfect for a variety of businesses. The building underwent renovations in 2024, ensuring modern amenities for tenants. Multiple tenancy options are available, allowing for flexibility in space requirements. With 150 total parking spaces, ample parking is guaranteed for employees and clients. The plaza boasts excellent road visibility and is conveniently situated between Cambridge Square and the Honors Golf Course, just minutes from I-75, providing easy access for commuters. Power is supplied by EPB. While elevators are not available, the building's design ensures easy accessibility to all units. This location offers a high-traffic area with strong visibility, making it an ideal choice for businesses seeking a prominent presence in a thriving community. Interested parties should visit www.OakiesPlaza.com for further details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,255,000
      6.5%
      $2,080,000
      7%
      $1,930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,276,000
      Market price range: $1.73M - $5.71M
      AI Estimate
      $2,276,000
      Market price range: $1.73M - $5.71M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,545,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ooltewah
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.0524
    Latitude
    35.0815
    CBSA code
    16860
    CBSA name
    CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,395
    $0.00
    $0.00
    $718,920
    -
    $988,800
    $808,500
    $1,797,300

    Comparable in this City

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    • Value Estimation by Request
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      5619 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,400 SF
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    • Value Estimation
      $955,000
      5,000 SF

      5556 Little Debbie Pkwy

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      3,252 SF

      9940 Summer Breeze Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,252 SF
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    • Value Estimation by Request
      1,980 SF

      8524 Providence Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,980 SF
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    • Value Estimation by Request
      2,848 SF

      9960 Summer Breeze Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,848 SF
      9960 Summer Breeze Dr, Ooltewah, TN 37363-8536
      View Details

    Similar Nearby for Sale

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      1,450 SF

      Commercial Space in Ooltewah, TN

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    • $335,000
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      Ooltewah Retail Lot - Prime Location

      High-Visibility Retail Lot, Excellent Demographics
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      Ooltewah Land Ready For Development

      Ideal land for office, retail, or mixed-use development.
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      Former Car Wash on 1.79 Acres

      4,460 SF building suitable for car wash or retail.
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      2,000 SF

      New Valvoline Lease Investment Opportunity

      New 15-year Valvoline lease with options and rent escalations.
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      Prime Corner Parcel Near Interstate

      3.8 acre corner parcel near I-75 in Ooltewah, Tennessee.
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    Similar Nearby for Lease

    • $15 SF/Yr

      Retail Space Near I-75

      Retail space in high-traffic area near I-75.
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    • $30 SF/Yr

      Retail Space in Ooltewah, TN

      Walmart shadow anchor strip center with former GNC space.
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    • $28 SF/Yr

      Retail Space in Growing Area

      Retail space available in a high-visibility, fast-growing area.
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      View Details
    • Contact for pricing

      Ooltewah Commercial Space Available

      1,800 sq ft commercial space in high-traffic Ooltewah location.
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      Retail Space in Wolftever Plaza

      Retail spaces available in busy Wolftever Food City Plaza.
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      Ooltewah Commercial Space Available

      1,200 sq ft commercial space in high-traffic Ooltewah location.
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    Ooltewah, TN 37363-6550
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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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