Corner Retail Condo with Three
For Sale
Contact for pricing
124 Tipton St, Johnson City, TN 37604
1,475 SF main-level retail condo with storefront windows on two sides and three doors of entry.
Property Size1,475 SF
Price / SF$244.07
Days on Market180
Property Features for 124 Tipton St
General Information
Standard status
Active
Size
1,475 SF
Property subtype
RETAIL
Zoning
B-2
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Label Restaurant, Juan Siao
Additional Details
Floor
Main
Amenities
expansive storefront windows
natural light
open layout
exposed ductwork
high ceilings
3 doors of entry
Listing Agency:
Keller Williams Johnson City
(423) 433-3500
Listed By:
Ryan McKinney · License #322580
(423) 773-1607
Source:
Moodyscre
Added: Mar 24
Changed: Sep 16
Last Checked: Sep 18 at 9:31AM
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 Keller Williams Johnson City
Investment Insights
Based on property information with market context.
Located on a prominent downtown corner, this 1,475 SF main-level commercial condo offers expansive storefront windows wrapping two sides. The interior features a clean, open layout with a modern industrial feel, including exposed ductwork and high ceilings.
The property sits on a high-visibility corner along Tipton Street in Johnson City, TN. Nearby anchors mentioned in the listing include Label Restaurant and Juan Siao.
With B-2 zoning and three doors of entry, the space supports a wide range of commercial uses, providing flexibility for an owner or tenant. All visits and inquiries are coordinated through the listing agent, and the business will remain fully operational during the sale process. Buyer/buyer agent to verify all information deemed reliable but not guaranteed.
The property sits on a high-visibility corner along Tipton Street in Johnson City, TN. Nearby anchors mentioned in the listing include Label Restaurant and Juan Siao.
With B-2 zoning and three doors of entry, the space supports a wide range of commercial uses, providing flexibility for an owner or tenant. All visits and inquiries are coordinated through the listing agent, and the business will remain fully operational during the sale process. Buyer/buyer agent to verify all information deemed reliable but not guaranteed.
Key Highlights
- 1,475 SF main‑level commercial condo for retail or office use
- Storefront windows wrap two sides, bringing natural light to the space
- Three doors of entry provide multiple access points for customers
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
$23,075
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
6.41%
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%
$461,500
$461.5K
Cap Rate 7%
$329,643
$329.6K
Cap Rate 9%
$256,389
$256.4K
Market Conditions
NOI Build-Up for 1,475 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
$34.0K $23.04/SF
− Vacancy
−$1.0K −$0.69/SF
EGI
$33.0K $22.35/SF
− OpEx
−$9.9K −$6.70/SF
NOI
$23.1K $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%
$461,500
Cap Rate 7%
$329,643
Cap Rate 9%
$256,389
Alternative Uses
Best Use
Retail
$329.6K
$288.4K – $384.6K
NOI $23,075 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.0K
$544.3K – $725.7K
NOI $43,542 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,678
Businesses Nearby
56k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 24%
McDonald's
Dining
33,919 visits/mo
0.4 miles
Renasant Bank
Shops & Services
10,280 visits/mo
0.2 miles
Wild Wing Cafe
Dining
8,911 visits/mo
0.2 miles
Sunoco
Shops & Services
3,088 visits/mo
0.3 miles
Demographics for 37604, TN
37,025
Population
19,334
Households
1.9
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
33.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$49,351
Median Household Income
$31,863
Median Earnings
$950
Median Rent
$231,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Anna Marie's Florist — 905 W Watauga Ave, Johnson City, TN 37604
Frequently Asked Questions
What type of property is this?
Storefront property - 1,475 SF main-level retail condo with storefront windows on two sides and three doors of entry.
Where is this storefront property located?
The property is located at 124 Tipton St Johnson City, TN.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,475 SF main‑level commercial condo for retail or office use; Storefront windows wrap two sides, bringing natural light to the space; Three doors of entry provide multiple access points for customers
