Retail Property on Roan
For Sale
Contact for pricing
2120-2123 N Roan St, Johnson City, TN
Retail property for sale in Johnson City, Tennessee.
Property Size7,716 SF
Lot Size1.05 Acres
Price / SF$416.67
Days on Market280
Property Features for 2120-2123 N Roan St
General Information
Standard status
Active
Size
7,716 SF
Lot size
1.05 Acres
Property subtype
RETAIL
Listing Agency:
Interstate Realty Advisors
(423) 968-5971
Listed By:
Brent Roswall
(423) 968-5971
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 17
Last Checked: Aug 30 at 10:25PM
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 Interstate Realty Advisors
Investment Insights
Based on property information with market context.
This retail property, located on N Roan St in Johnson City, Tennessee, offers 7,716 square feet of space. The property is suitable for retail and other retail purposes.
Key Highlights
- No property information was provided to analyze.
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
$120,710
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
3.75%
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%
$2,414,200
$2.4M
Cap Rate 7%
$1,724,429
$1.7M
Cap Rate 9%
$1,341,222
$1.3M
Market Conditions
NOI Build-Up for 7,716 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
$177.8K $23.04/SF
− Vacancy
−$5.3K −$0.69/SF
EGI
$172.4K $22.35/SF
− OpEx
−$51.7K −$6.70/SF
NOI
$120.7K $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%
$2,414,200
Cap Rate 7%
$1,724,429
Cap Rate 9%
$1,341,222
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,710 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.25M
$2.85M – $3.80M
NOI $227,776 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
875k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Apparel 23%
Shops & Services 16%
Superstores 12%
Target
Superstores
109,105 visits/mo
0.1 miles
DICK'S Sporting Goods
Apparel
70,504 visits/mo
0.3 miles
T.J. Maxx
Apparel
54,967 visits/mo
0.0 miles
JCPenney
Apparel
45,038 visits/mo
0.4 miles
Gabe's
Shops & Services
43,664 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property for sale in Johnson City, Tennessee.
Where is this retail property located?
The property is located at 2120-2123 N Roan St Johnson City, TN.
What is the asking price?
The asking price for this property is $3,215,000.
What are key features of this property?
This property features: No property information was provided to analyze.
