125 Lee Parkway DrChattanooga, TN 37421

Property Details for 125 Lee Parkway Dr

Year built

1988

Lot size

0.33 AC

Property size (Sq ft)

3,875 SF

Zone code

C2

Property type

Office properties

Property subtype

Other office properties

APN

148D E 022.07

APU

148DE02207

Description

This exceptional 3,875 square foot Class B office building, located at 125 Lee Pkwy Dr in Chattanooga, Tennessee, presents a unique investment opportunity. Built in 1988, this single-story structure sits on a 22,216 square foot lot and is zoned for commercial use. The property features four separate electric meters, allowing for flexible occupancy and potential subdivision. Currently, the building houses a high-end salon and offers several offices of varying sizes, including a spacious conference room. The building boasts beautiful trimwork and nine-foot ceilings, creating an airy and professional atmosphere. Previously occupied by a law firm and a title company, this property is ideal for an owner-user or investor seeking a prime location in Chattanooga. The asking price is $715,000, translating to $184.52 per square foot. The building could be easily divided into four or five separate offices, providing excellent potential for rental income. Available for occupancy on August 13, 2024. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a desirable area. The property's history of successful professional tenants speaks to its inherent value and appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $819,579

  6.5%

  $756,535

  7%

  $702,497

• Comparable approach

  Method

  Valuation

  Relative Method

  $631,199

  Geo Method

  $755,858

• Alternative Use

  Use

  Valuation

  Residential

  $938,103

  Hospitality

  $859,298

  Educational

  $714,925

  Medical

  $739,513

  Retail

  $1,112,106

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0477

Longitude

-85.1621

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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