6510 Ringgold RdEast Ridge, TN 37412
- Hospitality properties
- 17,928 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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