Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1728 Old Gray Station Road Johnson City, TN 37615

    View on Map
    Pending
    $599,900

    COMMERCIAL - Johnson City, TN

    Property size:
    1,282 SF
    Lot size:
    0.34 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    22
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 1728 Old Gray Station Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B 4 / B 5
    Parking
    12
    Standard status
    Pending
    APN
    021 084.06
    Size
    1,282 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    2077

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Central
    Cooling system
    Central Air, Heat Pump
    Water source
    Public

    Building Details

    Year built
    1992
    Building materials
    Metal Siding
    Roof type
    Rolled Hot Mop, Rubber

    We can help!

    Listing Contact
    Jacque Lowe
    Jacque Lowe

    Listing agent Jacque Lowe License #312937

    Listing office Coldwell Banker Security Real Estate 200 Princeton Road, TN

    Listing date Mar 10, 2026

    MLS# 9992170

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Commercial Property Near I-26

    This commercial property is located less than one mile from I-26 and under 0.5 mile from Highway 36. The building includes approximately 1,282 square feet of finished office space, featuring three private offices, an open office/work area, and two restrooms. Additionally, the property offers approximately 2,700 square feet of warehouse/storage space with an oversized garage bay. The property sits on a 0.34-acre lot. Recent improvements include a partially resealed roof, a new hot water heater, and window replacements. The property is zoned B 4 / B 5. It is suited for equipment storage, distribution, workshop use, or contractor needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Weather Tamer Home ... Roofing Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.413964
    Latitude
    36.385851

    Nearby Similar for Sale

    • $525,000

      Commercial Space in Gray, TN

      Commercial space suitable for retail or automotive use.
      127 Cherry Street, Johnson City, TN 37615
      View Details
    • $849,000
      11,104 SF

      Renovated Office Building, Johnson City

      Turn-key 11,104 SF office building in Johnson City, TN.
      2710 S Roan Street, Johnson City, TN 37601
      View Details
    • $650,000
      4,147 SF

      High-Visibility Commercial Building For Sale

      Income-producing commercial building with high visibility and development potential.
      401 Elm Street, Johnson City, TN 37601
      View Details
    • $400,000
      1,475 SF

      Prime Downtown Commercial Condo

      High-visibility commercial condo in Johnson City's active downtown corridor.
      124 Tipton Street, Johnson City, TN 37604
      View Details
    • $425,000
      2,600 SF

      Commercial Building with Office Spaces

      Commercial building featuring eight individual office spaces in Johnson City.
      1001 N Roan Street, Johnson City, TN 37601
      View Details
    • $425,000
      3,920 SF

      Turn-Key Multifamily Investment Opportunity

      Five updated units with stable income in Johnson City, TN.
      1308 Bell Ridge Road, Johnson City, TN 37601
      View Details
    • $389,900

      Four-Unit Apartment Building For Sale

      Fully occupied four-unit apartment building near Milligan University.
      103 Warrior Lane, Johnson City, TN 37601
      View Details
    • $649,500
      3,500 SF

      Remodeled Commercial Space, Johnson City

      3,500 SF remodeled property in revitalized downtown district.
      331 W Walnut Street, Johnson City, TN 37604
      View Details
    • $600,000
      5,000 SF

      Downtown Johnson City Mixed-Use Building

      Two-story, 5000 sq ft mixed-use building in downtown Johnson City.
      140 W Market Street, Johnson City, TN 37604
      View Details
    • $2,000,000
      9,500 SF

      Retail Center in Growing Area

      9,500 SF retail center in Johnson City's fastest-growing area.
      110 Whitewood Blvd, Johnson City, TN 37604
      View Details
    • $1,600,000
      10,991 SF

      Multifamily and Commercial Investment Opportunity

      Multifamily and commercial building for sale in Johnson City.
      1412 Knob Creek Road, Johnson City, TN 37604
      View Details
    • $5,000,000
      54,295 SF

      Southside Plaza Shopping Center

      Established shopping center with long-term tenants and high occupancy.
      1950 S Roan Street, Johnson City, TN 37601
      View Details

    FAQs

    What type of property is this?
    Flex space - Commercial property with office and warehouse space near I-26.
    Where is this flex space located?
    The property is located at 1728 Old Gray Station Road Johnson City, TN.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Excellent accessibility: Less than 1 mile from I‑26 and under 0.5 mile from Highway 36.; Approximately 2,700 sq ft of warehouse/storage space with oversized garage bay.; Approximately 1,282 sq ft of finished office space including 3 private offices.
    (423) 791-4410
    We can help!
    Listing Contact
    Jacque Lowe
    Jacque Lowe
    Real Estate License ID: 312937
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!