Two-Suite Storefront
For Sale
$585,000
2423 Elizabethton Highway 1&2, Johnson City, TN 37601
The two-suite layout offers separate spaces for an operating business and a potential tenant.
Property Size2,380 SF
Price / SF$245.80
Days on Market10
Property Features for 2423 Elizabethton Highway 1&2
General Information
Standard status
Active
Size
2,380 SF
Additional Details
Utilities to Site
Yes
Amenities
three-phase electric power
dedicated storage area
two clean bathrooms
modern heat pump
metal roof
ample parking
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Mountain Heritage Realty
Listed By:
Hazel Shipley · License #310519
(423) 676-4411
Source:
Thecolinandcarlygroup
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 7 at 1:49PM
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 Mountain Heritage Realty
Investment Insights
Based on property information with market context.
This 2,380-square-foot storefront building, constructed in 1974, is divided into two suites. The property sits on over one acre and includes a dedicated storage area and two bathrooms. Three-phase electric service supports the building, while a heat pump installed a couple of years ago and a metal roof are among its building features.
The property is at 2423 Elizabethton Highway in Johnson City, Tennessee, outside city limits and within a county tax district. On-site parking is also provided.
The property is at 2423 Elizabethton Highway in Johnson City, Tennessee, outside city limits and within a county tax district. On-site parking is also provided.
Key Highlights
- 2,380‑square‑foot storefront building on over one acre
- Two separate suites
- Three‑phase electric service
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
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
33
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
0.1 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - The two-suite layout offers separate spaces for an operating business and a potential tenant.
Where is this storefront property located?
The property is located at 2423 Elizabethton Highway 1&2 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 storefront building on over one acre; Two separate suites; Three‑phase electric service
