713 Airport RdChattanooga, TN 37421

Property Details for 713 Airport Rd

Year built

1995

Lot size

1.00 AC

Property size (Sq ft)

288 SF

Zone code

C2

Property type

Retail properties

Property subtype

Outlet malls

APN

148P D 005

APU

148PD005

Description

This exceptional 1-acre commercial lot, located at the intersection of Airport Road and Pinehurst Avenue in Chattanooga, Tennessee (APN: 148P D 005), presents a unique redevelopment opportunity. Situated less than a mile from the Chattanooga Metropolitan Airport's main terminal and 1,500 feet from the new West Star Aviation terminal, this Class A property benefits from its prime location within Chattanooga's rapidly expanding Airport District. Zoned C-2 Commercial, the lot is ready for immediate redevelopment. The area boasts significant growth, with 44 property transactions in the last three years. This corner lot offers potential for larger-scale development, adjacent to 5 acres of vacant land. The Chattanooga City Council is actively promoting the Airport District Plan, aiming to enhance this area's appeal. Recent investments include a $28 million terminal expansion (summer 2024) and a $25 million parking deck addition (three years prior). The property's strategic location provides easy access to major transportation arteries: Hwy 53 (over 50,000 cars daily) and I-75 (over 100,000 cars daily). Proximity to Enterprise South Industrial Park (home to Volkswagen and Amazon) and the Hamilton Place retail district further enhances its appeal. The asking price is $449,000, representing a price per acre of $449,000. Currently vacant, the property was previously leased, with the lease expiring in November 2024. This presents a compelling investment opportunity in Chattanooga's highest-growth area.

• CAP approach

  CAP return

  Valuation

  6%

  $89,542

  6.5%

  $82,655

  7%

  $76,751

• Comparable approach

  Method

  Valuation

  Relative Method

  $118,219

  Geo Method

  $141,567

• Alternative Use

  Use

  Valuation

  Residential

  $69,722

  Hospitality

  $63,865

  Educational

  $53,135

  Medical

  $54,962

  Retail

  $82,655

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0278

Longitude

-85.1961

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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