Flex Space with Existing
For Sale
$749,900
3100 N Roan Street, Johnson City, TN 37601
Commercial Sale, Johnson City, TN
Property Size5,292 SF
Lot Size0.88 Acres
Price / SF$141.70
Days on Market146
Property Features for 3100 N Roan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B4 / R5
Directions
Start on W State of Franklin Rd and turn right onto Oakland Ave. In 0.4 miles turn left onto N Roan St. In 450ft turn right into the parking lot.
Subdivision
302 - NE Johnson City
Standard status
Active
APN
029 119.01
Size
5,292 SF
Lot size
0.88 Acres
Taxes and HOA fees
Tax Annual Amount
3903
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1960
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
The Addington Agency Bristol
(423) 845-5800
Listed By:
Andrea Pendleton · License #339001
(423) 440-0516
Added: Apr 16
Changed: Sep 6
Last Checked: Sep 8 at 7:06PM
MLS# 9993959
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.
Investment Insights
Based on property information with market context.
This flex space at 3100 N Roan Street includes a combination of open areas and existing offices, with restrooms and dressing rooms already in place. The building was constructed in 1960 and features wood siding, a metal roof, heat-pump heating and cooling, public water, and public sewer. The property encompasses 0.88 acres and includes a large on-site parking lot.
Zoned B4 / R5, the property is positioned along North Roan Street in Johnson City, with access to a heavily traveled commercial corridor. Its existing configuration and commercial zoning support a range of business operations, subject to verification of permitted uses and other property information.
Zoned B4 / R5, the property is positioned along North Roan Street in Johnson City, with access to a heavily traveled commercial corridor. Its existing configuration and commercial zoning support a range of business operations, subject to verification of permitted uses and other property information.
Key Highlights
- 5,292 square feet of property size
- 0.88‑acre site on 3100 N Roan Street
- B4 / R5 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,801
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,020
$776.0K
Cap Rate 7%
$554,300
$554.3K
Cap Rate 9%
$431,122
$431.1K
Market Conditions
NOI Build-Up for 5,292 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.5K $12.00/SF
− Vacancy
−$3.8K −$0.72/SF
EGI
$59.7K $11.28/SF
− OpEx
−$20.9K −$3.95/SF
NOI
$38.8K $7.33/SF
Area
Washington County, TN
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,020
Cap Rate 7%
$554,300
Cap Rate 9%
$431,122
Alternative Uses
Best Use
Flex RnD
$554.3K
$485.0K – $646.7K
NOI $38,801 @ 7.0% cap · market cap 5.17%
Second Best
Industrial
$454.8K
$398.0K – $530.7K
NOI $31,839 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,220 @ 7.0% cap · market cap 20.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37601, TN
37,079
Population
18,153
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
47.7 sq mi
ZIP Area
777
Density / Sq Mi
$49,658
Median Household Income
$32,312
Median Earnings
$892
Median Rent
$187,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial layout with open areas, offices, restrooms, dressing rooms, and a large on-site parking lot.
Where is this flex space located?
The property is located at 3100 N Roan Street Johnson City, TN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 5,292 square feet of property size; 0.88‑acre site on 3100 N Roan Street; B4 / R5 zoning
