Corner Commercial
For Sale
Contact for pricing
2030 Ivy Ln, Johnson City, TN 37604
RO-1 zoning and an existing structure are present on this corner site.
Property Size1,323 SF
Price / SF$361.30
Days on Market14
Property Features for 2030 Ivy Ln
General Information
Standard status
Active
Size
1,323 SF
Property subtype
Office, Land
Zoning
RO-1
Investment Type
Redevelopment
Building Details
Year Built
1965
Stories
1
Listing Agency:
TCI Group – Jerry Petzoldt Agency LLC
Listed By:
Megan Helton · License #386307
Source:
Crexi
Added: Aug 19
Changed: Aug 31
Last Checked: Aug 31 at 2:59PM
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 TCI Group – Jerry Petzoldt Agency LLC
Investment Insights
Based on property information with market context.
This 0.767-acre commercial land parcel includes an existing 1,323 SF structure built in 1965. The improvements provide a physical starting point for a buyer evaluating renovation, reconfiguration, or a different site plan. The property is zoned RO-1, and the existing building may be considered for adaptive reuse subject to applicable approvals.
Positioned at the corner of Sunset Drive and Ivy Lane in Johnson City, the property is near Johnson City Mall and an established mix of banks, professional offices, retail businesses, restaurants, and other commercial uses. The combination of land area, existing improvements, and a corner setting supports evaluation of both the current structure and longer-term site planning.
Positioned at the corner of Sunset Drive and Ivy Lane in Johnson City, the property is near Johnson City Mall and an established mix of banks, professional offices, retail businesses, restaurants, and other commercial uses. The combination of land area, existing improvements, and a corner setting supports evaluation of both the current structure and longer-term site planning.
Key Highlights
- 0.767‑acre commercial land parcel
- Existing 1,323 SF structure on the site
- RO‑1 zoning
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
$19,527
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
4.09%
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%
$390,540
$390.5K
Cap Rate 7%
$278,957
$279.0K
Cap Rate 9%
$216,967
$217.0K
Market Conditions
NOI Build-Up for 1,323 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
$31.8K $24.00/SF
− Vacancy
−$5.7K −$4.32/SF
EGI
$26.0K $19.68/SF
− OpEx
−$6.5K −$4.92/SF
NOI
$19.5K $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%
$390,540
Cap Rate 7%
$278,957
Cap Rate 9%
$216,967
Alternative Uses
Best Use
Office B
$279.0K
$244.1K – $325.5K
NOI $19,527 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$557.9K
$488.2K – $650.9K
NOI $39,055 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - RO-1 zoning and an existing structure are present on this corner site.
Where is this commercial land located?
The property is located at 2030 Ivy Ln Johnson City, TN.
What is the asking price?
The asking price for this property is $478,000.
What are key features of this property?
This property features: 0.767‑acre commercial land parcel; Existing 1,323 SF structure on the site; RO‑1 zoning
