Retail Center in Growing
For Sale
Contact for pricing
110 Whitewood Blvd, Johnson City, TN 37601
9,500 SF retail center in Johnson City for sale.
Property Size9,500 SF
Price / SF$210.53
Days on Market427
Property Features for 110 Whitewood Blvd
General Information
Standard status
Active
Size
9,500 SF
Class
A
Property subtype
Land, Office, Retail
Zoning
B-4
Listing Agency:
The Brokers Realty and Auction
(423) 656-0333
Listed By:
Bryan Sangid · License #TN 321218
Source:
Crexi
Added: Jun 25, 2025
Changed: Aug 16
Last Checked: Aug 14 at 7:24AM
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 and Auction
Investment Insights
Based on property information with market context.
This 9,500 SF retail center is located in a rapidly developing area of Johnson City. The property is strategically situated on a signalized corner, adjacent to a new ALDI, and surrounded by established residential neighborhoods. This location provides excellent visibility and strong traffic counts, suggesting long-term growth potential. The building's layout allows for subdivision to accommodate various tenants, making it suitable for retail spaces, restaurants, medical offices, banks, and professional services. This property is positioned in a thriving corridor where new retail construction is limited. The purchase price is subject to change as construction continues.
Key Highlights
- Located in a fast‑growing area of Johnson City.
- Excellent visibility and strong traffic counts due to signalized corner location.
- High‑demand leasing opportunity or prime location for owner‑user.
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
$148,620
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
7.43%
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%
$2,972,400
$3.0M
Cap Rate 7%
$2,123,143
$2.1M
Cap Rate 9%
$1,651,333
$1.7M
Market Conditions
NOI Build-Up for 9,500 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
$218.9K $23.04/SF
− Vacancy
−$6.6K −$0.69/SF
EGI
$212.3K $22.35/SF
− OpEx
−$63.7K −$6.70/SF
NOI
$148.6K $15.64/SF
Area
Washington County, TN
Vacancy
3.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,972,400
Cap Rate 7%
$2,123,143
Cap Rate 9%
$1,651,333
Alternative Uses
Best Use
Retail
$2.12M
$1.86M – $2.48M
NOI $148,620 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.67M
NOI $280,440 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Food City
Groceries
23,442 visits/mo
0.5 miles
Aldi
Groceries
14,206 visits/mo
0.1 miles
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 Retail 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?
Shopping center - 9,500 SF retail center in Johnson City for sale.
Where is this shopping center located?
The property is located at 110 Whitewood Blvd Johnson City, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Located in a fast‑growing area of Johnson City.; Excellent visibility and strong traffic counts due to signalized corner location.; High‑demand leasing opportunity or prime location for owner‑user.
