6510 Ringgold RdEast Ridge, TN 37412

  • Hospitality properties
  • 17,928 SF
For Lease

Property Details for 6510 Ringgold Rd

Year built
1971
Lot size
1.37 AC
Property size (Sq ft)
17,928 SF
Zone code
C1
Property type
Hospitality properties
Property subtype
Motels
APN
169L M 017
APU
169LM017

Description

This exceptional 0.86-acre commercial land parcel presents a prime ground lease or build-to-suit opportunity in East Ridge, Tennessee. Ideally situated directly off I-75's southbound Exit 1 ramp, this pad-ready lot boasts 250 feet of frontage on Ringgold Road, ensuring high visibility and accessibility. Currently, two existing buildings on the site will be demolished to create this expansive, level lot. The property offers significant advantages due to its location within a strong retail corridor and the city's Border Region Retail Tourism Development Act, which provides sales tax incentives to developers and operators, potentially offsetting rental costs. This incentive program is designed to encourage businesses to locate on the Tennessee side of the state line. Detailed information regarding this incentive can be obtained from East Ridge city officials or their website. The site features ample on-site parking, supplemented by cross-access easements through an adjacent hotel, providing additional parking and convenient access via the Ringgold Road & S Mack Smith Road intersection. A rear entrance/curb cut off S Mack Smith Road also provides access. With a Ringgold Road traffic count of 24,688 vehicles per day and I-75 traffic count of 127,684 VPD, this location offers unparalleled exposure for businesses. The property's APN is 033169L M 01701 P000 and is zoned for commercial use. The total land area is 37,461 square feet, and there are 26 total parking spaces available. This site is perfect for quick-service restaurants or national tenants seeking high-traffic exposure and significant financial incentives.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,306,910
    6.5%
    $3,975,609
    7%
    $3,691,637
  • Comparable approach

    Method
    Valuation
    Relative Method
    $6,862,685
    Geo Method
    $8,218,034
  • Alternative Use

    Use
    Valuation
    Residential
    $4,340,210
    Hospitality
    $3,975,609
    Educational
    $3,307,660
    Medical
    $3,421,416
    Retail
    $5,145,249
6510 Ringgold Rd, East Ridge, Tennessee

Location Insight

City
Chattanooga
County
Hamilton
State
Tennessee
Latitude
34.9888
Longitude
-85.2088
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
$31,825
-
-
$908,440
-
$552,000
$1,719,100
$2,271,100

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