Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    115 Mary St Johnson City, TN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Clear span flex space suitable for sales, service, or distribution.

    Type:INDUSTRIAL
    Property size:
    11,000 SF
    Lot size:
    0.75 Acres
    Added:
    Jan 13, 2025
    Days on Market:
    462
    Last Refresh:
    Apr 5 at 8:19 pm

    Property Features for 115 Mary St

    General Information

    Standard status
    Active
    Size
    11,000 SF
    Lot size
    0.75 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 115 Mary St Contact us

    We can help!

    Listing Contact
    Michael E. Green, CCIM MAI SIOR

    Listing agent Michael E. Green, CCIM MAI SIOR

    Listing office Green Commercial Realty

    Listing date Jan 13, 2025

    Source Moodyscre

    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 Green Commercial Realty

    Overview

    Functional Flex Space in Boones Creek

    This 11,000 square foot flex space is configured for sales and service, distribution, repair, or light assembly. The layout includes three offices and a showroom near the parking area, with operations areas in the rear. These operations areas feature parts rooms, bench areas, and secure inventory and parts storage. The property is located in Boones Creek, in North Johnson City and Washington County, with visibility from TNSR 36. It is approximately 10 minutes from both Johnson City and Kingsport, 20 minutes from Bristol, and 8 minutes from the airport.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.4293
    Latitude
    36.4173

    Nearby Similar for Lease

    • Contact for pricing

      Johnson City Executive Office Space

      Executive office space for lease in Johnson City, Tennessee.
      4502 Bristol Highway, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Well-maintained office space in a highly visible, accessible location.
      302 Sunset Drive unit: 1, Johnson City, TN 37604
      View Details
    • Contact for pricing

      Downtown Johnson City Retail Space

      Lease opportunity in the heart of Downtown Johnson City.
      212 E Main Street, Johnson City, TN 37604
      View Details
    • $377,900/mo

      Four-Unit Apartment Building For Rent

      Four-unit apartment building near Milligan University, fully occupied.
      103 Warrior Lane, Johnson City, TN 37601
      View Details
    • $2,400,000/mo

      25-Unit Apartment Complex Investment

      Multi-family investment opportunity in Johnson City, Tennessee.
      1106 Fremont Drive, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Downtown Retail Space For Lease

      Street-level retail space in historic downtown building, available for lease.
      300 E Main St, Johnson City, TN
      View Details
    • $19/mo

      Downtown Johnson City Restaurant Space

      Restaurant space for lease with bar, kitchen, and parking.
      71 Wilson Ave, Johnson City, TN
      View Details
    • Contact for pricing

      Downtown Johnson City Office Space

      Office suites available for lease in downtown Johnson City.
      316 E Main St, Johnson City, TN
      View Details
    • $674,999/mo

      Johnson City Apartment Building For Rent

      Six-unit apartment building with income potential in Johnson City, TN.
      3411 W Walnut Street, Johnson City, TN 37604
      View Details
    • $14/mo

      Bristol Highway Office/Medical Space

      Office or medical space available near Winged Deer Park.
      3915 Bristol Hwy, Johnson City, TN
      View Details
    • $13/mo

      Downtown Retail Space for Lease

      Street-level retail space in revitalized downtown location for lease.
      313 E Main St, Johnson City, TN
      View Details
    • Contact for pricing

      Retail Space in Roan Center

      Retail space for lease in established shopping center.
      101 E Unaka Ave, Johnson City, TN
      View Details

    FAQs

    What type of property is this?
    Flex space - Clear span flex space suitable for sales, service, or distribution.
    Where is this flex space located?
    The property is located at 115 Mary St Johnson City, TN.
    What are key features of this property?
    This property features: Excellent location in Boones Creek with visibility from TNSR 36.; Functional configuration with offices, showroom, operations areas, parts rooms, bench areas, and secure storage.; Versatile flex space suitable for sales, service, distribution, repair, or light assembly.
    (423) 677-8494 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael E. Green, CCIM MAI SIOR
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!