Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    253 E Main St Johnson City, TN 37604

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in renovated downtown building near amenities.

    Type:Retail, Restaurant
    Property size:
    4,792 SF
    Added:
    Oct 18, 2024
    Days on Market:
    545
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 253 E Main St

    General Information

    Standard status
    Active
    Size
    4,792 SF
    Property subtype
    Retail, Restaurant

    Building Details

    Year Built
    1916

    Spaces For Lease

    at 253 E Main St Contact us

    We can help!

    Listing Contact
    Shannon K. Castillo

    Listing agent Shannon K. Castillo License #328830

    Listing office Mitch Cox Realtor, Inc.

    Listing date Oct 18, 2024

    Source Crexi

    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 Mitch Cox Realtor, Inc.

    Overview

    Downtown Retail Space For Lease

    Street-level retail space is available for lease in a newly renovated building in Downtown Johnson City. The entire 4,792 square foot first floor is available and can be divided. One section faces Main Street and offers 2,995 square feet. The other section faces Market Street and provides 1,797 square feet. The property is approximately 0.2 miles from I-26, exit 23, and is within walking distance of downtown restaurants and shops. A tenant improvement allowance package is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.350897
    Latitude
    36.3172148

    Nearby Similar for Lease

    • Contact for pricing

      Johnson City Executive Office Space

      Executive office space for lease in Johnson City, Tennessee.
      4502 Bristol Highway, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Well-maintained office space in a highly visible, accessible location.
      302 Sunset Drive unit: 1, Johnson City, TN 37604
      View Details
    • Contact for pricing

      Downtown Johnson City Retail Space

      Lease opportunity in the heart of Downtown Johnson City.
      212 E Main Street, Johnson City, TN 37604
      View Details
    • $389,900/mo

      Johnson City Multifamily Investment Property

      Four-unit apartment building near Milligan University, fully occupied.
      103 Warrior Lane, Johnson City, TN 37601
      View Details
    • $2,400,000/mo

      25-Unit Apartment Complex Investment

      Multi-family investment opportunity in Johnson City, Tennessee.
      1106 Fremont Drive, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Downtown Retail Space For Lease

      Street-level retail space in historic downtown building, available for lease.
      300 E Main St, Johnson City, TN
      View Details
    • $19/mo

      Downtown Johnson City Restaurant Space

      Restaurant space for lease with bar, kitchen, and parking.
      71 Wilson Ave, Johnson City, TN
      View Details
    • Contact for pricing

      Downtown Johnson City Office Space

      Office suites available for lease in downtown Johnson City.
      316 E Main St, Johnson City, TN
      View Details
    • $674,999/mo

      Johnson City Apartment Building For Rent

      Six-unit apartment building with income potential in Johnson City, TN.
      3411 W Walnut Street, Johnson City, TN 37604
      View Details
    • $14/mo

      Bristol Highway Office/Medical Space

      Office or medical space available near Winged Deer Park.
      3915 Bristol Hwy, Johnson City, TN
      View Details
    • $13/mo

      Downtown Retail Space for Lease

      Street-level retail space in revitalized downtown location for lease.
      313 E Main St, Johnson City, TN
      View Details
    • Contact for pricing

      Retail Space in Roan Center

      Retail space for lease in established shopping center.
      101 E Unaka Ave, Johnson City, TN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in renovated downtown building near amenities.
    Where is this retail space located?
    The property is located at 253 E Main St Johnson City, TN.
    What are key features of this property?
    This property features: Prime downtown location next to Johnson City Brewing Company; Newly renovated building; Flexible space options: Take the entire 4,792 SF or choose divided spaces
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shannon K. Castillo
    Real Estate License ID: 328830
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!