Office Building with Private
For Sale
$425,000
1001 North Roan St, Johnson City, TN 37601
Individual offices offer private entrances and separate heating and air systems within a multi-suite commercial building.
Property Size2,600 SF
Price / SF$163.46
Days on Market45
Property Features for 1001 North Roan St
General Information
Standard status
Active
Size
2,600 SF
Additional Details
Office Units
8
Amenities
private entrances
individual HVAC
Building Details
Year Built
1975
Construction
stone and wood
Tenancy
Multi
Listing Agency:
The Brokers Realty & Auction
(423) 571-5381
Listed By:
J. Alan McInturff · License #218646
Source:
Thecolinandcarlygroup
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 30 at 8:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Brokers Realty & Auction
Investment Insights
Based on property information with market context.
This 2,600-square-foot office building contains eight individual office spaces, each with its own private entrance and heating and air system. The property also includes two bathrooms, while the exterior combines stone and wood construction. The layout provides separate areas for the current occupants and supports flexible office use within the existing configuration.
Located at 1001 North Roan St in Johnson City, the property includes ample parking and is currently occupied by tenants. Because tenants are present, property access requires 24-hour notice.
Located at 1001 North Roan St in Johnson City, the property includes ample parking and is currently occupied by tenants. Because tenants are present, property access requires 24-hour notice.
Key Highlights
- Eight individual office spaces, each with a private entrance
- 2,600 SF office building with separate heating and air systems for each space
- Two bathrooms within the complex
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
$38,376
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
9.03%
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%
$767,520
$767.5K
Cap Rate 7%
$548,229
$548.2K
Cap Rate 9%
$426,400
$426.4K
Market Conditions
NOI Build-Up for 2,600 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
$62.4K $24.00/SF
− Vacancy
−$11.2K −$4.32/SF
EGI
$51.2K $19.68/SF
− OpEx
−$12.8K −$4.92/SF
NOI
$38.4K $14.76/SF
Area
Washington County, TN
Vacancy
18.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$767,520
Cap Rate 7%
$548,229
Cap Rate 9%
$426,400
Alternative Uses
Best Use
Office B
$548.2K
$479.7K – $639.6K
NOI $38,376 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$959.4K – $1.28M
NOI $76,752 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,516
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Individual offices offer private entrances and separate heating and air systems within a multi-suite commercial building.
Where is this office building located?
The property is located at 1001 North Roan St Johnson City, TN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Eight individual office spaces, each with a private entrance; 2,600 SF office building with separate heating and air systems for each space; Two bathrooms within the complex
