Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land with Tennessee Views Title is generated by Realmo AI

    Free Hill Extension, Johnson City, TN 37615

    View on Map
    Claim this Listing
    For Sale
    $109,900

    LAND - Johnson City, TN

    Lot size:
    2.30 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    66
    Last Refresh:
    May 31 at 5:06 pm

    Property Features for Free Hill Extension

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    Lot size
    2.30 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Matt Lorencen

    Listing agent Matt Lorencen License #330482

    Listing office Foundation Realty Group 5205 Bobby Hicks Hwy Suite 10, TN

    Listing date Mar 27, 2026

    MLS# 9992948 Listing URL

    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.

    HighLights

    • Stunning East Tennessee views and unforgettable sunsets.
    • Prime Washington County location.
    • Recently cleared and ready to build.
    • 2+ acre lot.
    • Minutes from both Johnson City and Kingsport.
    • Additional lot available to increase acreage.

    Overview

    This 2.3-acre residential lot is located in Washington County, offering views and sunsets. The property has been recently cleared and is ready for construction. It provides a blend of surroundings and convenience, located minutes from both Johnson City and Kingsport. This lot presents an opportunity to create a home in an setting. An additional lot is available to increase acreage.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.452603
    Latitude
    36.424206

    Nearby Similar for Sale

    • $1,272,500
      8,120 SF

      Revitalized West Walnut Commercial Space

      Prime commercial space in Johnson City's revitalized West Walnut district.
      718 W Walnut Street, Johnson City, TN 37604
      View Details
    • $849,900
      5,292 SF

      Johnson City Commercial Opportunity

      5,200 SF commercial building with high visibility and ample parking.
      3100 N Roan Street, Johnson City, TN 37601
      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
    • $835,000
      8,312 SF

      High Exposure Commercial Opportunity

      Prime commercial land with high visibility and traffic.
      3096 N Roan Street, Johnson City, TN 37601
      View Details
    • $399,000
      2,400 SF

      Versatile Commercial Warehouse in Johnson City

      Commercial warehouse property with expansion potential near I-26.
      309 Wesley Street, Johnson City, TN 37601
      View Details
    • $364,500
      2,470 SF

      Versatile Mixed-Use Property, Johnson City

      Office, apartment, and lots on Milligan Highway.
      1306 Milligan Highway, Johnson City, TN 37601
      View Details
    • $599,900
      3,500 SF

      Remodeled Commercial Space in Johnson

      3,500 SF remodeled commercial space in revitalized downtown district.
      331 W Walnut Street, Johnson City, TN 37604
      View Details
    • $750,000
      5,000 SF

      Versatile Commercial Warehouse in Gray, TN

      5,000 sq ft commercial warehouse with offices and secure lot.
      104 Center Street, Johnson City, TN 37615
      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
    • $399,900
      2,108 SF

      Newer Duplex in Johnson City

      Mint condition, fully leased duplex built in 2021.
      216 Mckinley Church Road, Johnson City, TN 37604
      View Details
    • $489,000
      3,071 SF

      Johnson City Triple-Income Investment Property

      Versatile property with three income streams in Johnson City, Tennessee.
      1004 N Barton Street, Johnson City, TN 37604
      View Details
    • $2,207,000

      Prime Land Near Boones Creek

      2.82-acre commercial land with high traffic and development potential.
      Boones Creek Road, Johnson City, TN 37615
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2+ acre lot ready to build near Johnson City.
    Where is this residential land & home lot located?
    The property is located at Free Hill Extension Johnson City, TN.
    What is the asking price?
    The asking price for this property is $109,900.
    What are key features of this property?
    This property features: Stunning East Tennessee views and unforgettable sunsets.; Prime Washington County location.; Recently cleared and ready to build.
    (423) 741-1161
    We can help!
    Listing Contact
    Matt Lorencen
    Real Estate License ID: 330482
    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

    Thank You for Inquiry
    Free Hill Extension, Johnson City, TN 37615
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!