Two-Suite Storefront
For Sale
$585,000
2423 Elizabethton Highway, Johnson City, TN 37601
Commercial Sale, Johnson City, TN
Property Size2,380 SF
Lot Size1.27 Acres
Price / SF$245.80
Days on Market46
Property Features for 2423 Elizabethton Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Directions
From Johnson City go past the Johnson City Police Department continue straight through the red light going toward Elizabethton. Continue straight pass Sinking Creek Baptist Church. Then you will pass Dollar General property will be ahead on the left .
Subdivision
314 - Carter County
Standard status
Active
APN
047e C 013.00
Size
2,380 SF
Lot size
1.27 Acres
Taxes and HOA fees
Tax Annual Amount
650
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
three-phase electric power
dedicated storage area
two clean bathrooms
modern heat pump
sturdy metal roof
Building Details
Year built
1974
Building materials
Brick
Roof type
Metal
Listing Agency:
Mountain Heritage Realty
(423) 434-4663
Listed By:
Hazel Shipley · License #310519
(423) 676-4411
Added: Aug 27
Changed: Oct 2
Last Checked: Oct 11 at 1:06PM
MLS# 10000062
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,380-square-foot brick storefront property sits on a 1.27-acre parcel and is arranged as two separate suites. The configuration can accommodate an owner-user operating from one area while leasing the other, or support a multi-tenant setup. Interior features include dedicated storage and two bathrooms, while three-phase electric power provides utility for commercial operations. A heat pump serves the building, and the roof is metal. Constructed in 1974, the property also includes public water and a septic tank.
The address is along Elizabethton Highway in Johnson City, positioned between Johnson City and Elizabethton in Carter County. The property is outside city limits and falls within a county tax district. Its lot provides room for on-site parking, supporting customer, employee, or service-vehicle access.
The address is along Elizabethton Highway in Johnson City, positioned between Johnson City and Elizabethton in Carter County. The property is outside city limits and falls within a county tax district. Its lot provides room for on-site parking, supporting customer, employee, or service-vehicle access.
Key Highlights
- 2,380‑square‑foot brick commercial building on 1.27 acres
- Two‑suite layout supports owner‑user or multi‑tenant occupancy
- Three‑phase electric power, dedicated storage, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,233
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,660
$744.7K
Cap Rate 7%
$531,900
$531.9K
Cap Rate 9%
$413,700
$413.7K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$54.8K $23.04/SF
− Vacancy
−$1.6K −$0.69/SF
EGI
$53.2K $22.35/SF
− OpEx
−$16.0K −$6.70/SF
NOI
$37.2K $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 Rate 5%
$744,660
Cap Rate 7%
$531,900
Cap Rate 9%
$413,700
Alternative Uses
Best Use
Retail
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.2K – $1.17M
NOI $70,258 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,181 visits/mo
0.3 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with a two-suite layout, dedicated storage, and practical utility infrastructure.
Where is this storefront property located?
The property is located at 2423 Elizabethton Highway Johnson City, TN.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,380‑square‑foot brick commercial building on 1.27 acres; Two‑suite layout supports owner‑user or multi‑tenant occupancy; Three‑phase electric power, dedicated storage, and two bathrooms
