Historic Mixed-Use
For Sale
$950,000
107109 107 & 109 East Main St, Jonesborough, TN 37659
Two-level commercial property combines street-facing retail with multiple office suites and dedicated rear parking.
Property Size6,006 SF
Price / SF$158.18
Days on Market14
Property Features for 107109 107 & 109 East Main St
General Information
Standard status
Active
Size
6,006 SF
Total Parking Spaces
3
Additional Details
Office Units
3
Amenities
commercial kitchen
gas log fireplace
built-in bar
certified warming kitchen
exposed brick
original hardwood floors
dumbwaiter shaft
fireplaces
Building Details
Year Built
1871
Year Renovated
2013
Buildings
1
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Property Executives Johnson City
(423) 612-2095
Listed By:
Lisa Stover · License #371598
Source:
Thecolinandcarlygroup
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 9:19PM
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 Property Executives Johnson City
Investment Insights
Based on property information with market context.
This historic mixed-use building contains approximately 6,006 square feet over two levels at 107 and 109 East Main Street. The 3,003-square-foot main level includes retail areas, a commercial kitchen, built-in bar, gas log fireplace, half baths, and a certified warming kitchen. The upper level provides multiple office spaces within 3,003 square feet, along with two fireplaces, one full bath, one half bath, and another certified warming kitchen. Established tenants occupy portions of the property, providing existing rental activity.
Constructed in 1871 and renovated in 2013, the building retains exposed brick, original hardwood floors, and other period architectural details, including a dumbwaiter shaft. A metal roof was installed in 2020, and exterior access was updated in 2023. Three dedicated parking spaces are located in the rear lot. Main Street positioning places the property within the walkable downtown district of historic Jonesborough. The HOA fee covers insurance, water, and trash.
Constructed in 1871 and renovated in 2013, the building retains exposed brick, original hardwood floors, and other period architectural details, including a dumbwaiter shaft. A metal roof was installed in 2020, and exterior access was updated in 2023. Three dedicated parking spaces are located in the rear lot. Main Street positioning places the property within the walkable downtown district of historic Jonesborough. The HOA fee covers insurance, water, and trash.
Key Highlights
- Approximately 6,006 square feet across two levels
- Main level includes retail areas, commercial kitchen, built‑in bar, fireplaces, and certified warming kitchen
- Upper level contains multiple office spaces, 1 full bath, 1 half bath, and 2 fireplaces
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
$72,973
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
7.68%
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%
$1,459,460
$1.5M
Cap Rate 7%
$1,042,471
$1.0M
Cap Rate 9%
$810,811
$810.8K
Market Conditions
NOI Build-Up for 6,006 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
$129.7K $21.60/SF
− Vacancy
−$13.0K −$2.16/SF
EGI
$116.8K $19.44/SF
− OpEx
−$43.8K −$7.29/SF
NOI
$73.0K $12.15/SF
Area
Washington County, TN
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,459,460
Cap Rate 7%
$1,042,471
Cap Rate 9%
$810,811
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.57M
NOI $93,959 @ 7.0% cap · market cap 9.89%
Second Best
Office B
$1.27M
$1.11M – $1.48M
NOI $88,649 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,297 @ 7.0% cap · market cap 18.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 37659, TN
29,313
Population
12,798
Households
2.3
Avg Household Size
45
Median Age
29%
College-Educated
92%
High-School Grad
126.9 sq mi
ZIP Area
231
Density / Sq Mi
$69,765
Median Household Income
$40,962
Median Earnings
$1,034
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Two-level commercial property combines street-facing retail with multiple office suites and dedicated rear parking.
Where is this mixed-use property located?
The property is located at 107109 107 & 109 East Main St Jonesborough, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 6,006 square feet across two levels; Main level includes retail areas, commercial kitchen, built‑in bar, fireplaces, and certified warming kitchen; Upper level contains multiple office spaces, 1 full bath, 1 half bath, and 2 fireplaces
