Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    331 W Walnut Street Johnson City, TN 37604

    View on Map
    Claim this Listing
    For Sale
    $599,900

    COMMERCIAL - Johnson City, TN

    Property size:
    3,500 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $171/SF
    Added:
    Aug 8, 2025
    Days on Market:
    273
    Last Refresh:
    May 7 at 8:06 pm

    Property Features for 331 W Walnut Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commerical
    Standard status
    Active
    APN
    054d N 008.00
    Size
    3,500 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    568

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air
    Water source
    Public

    Building Details

    Year built
    1947
    Building materials
    Brick
    Roof type
    Metal, Tar/Gravel

    We can help!

    Listing Contact
    Shannon Clark

    Listing agent Shannon Clark License #354489

    Listing office Hurd Realty, LLC 110 KLM Drive Suite 1, Johnson City, TN

    Listing date Aug 8, 2025

    MLS# 9984276

    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.

    HighLights

    • Prime commercial space in the revitalized West Walnut Street district, downtown Johnson City.
    • Remodeled 3,500 square feet property with modern infrastructure and historic district charm.
    • Extensive redevelopment plan including underground utilities, stylish street lighting, abundant street parking, pedestrian‑friendly sidewalks, bike lanes, and parks.
    • Brand‑new HVAC system, updated electrical, new water heater and bathroom.
    • New garage door in rear alley for easy loading and striking glass garage door at the front.
    • New windows and exterior door, fresh paint, and stylish new awning.

    Overview

    Remodeled Commercial Space in Johnson

    Located in the revitalized West Walnut Street district of downtown Johnson City, this remodeled 3,500 square feet commercial property presents an opportunity for ownership. The area is undergoing an extensive redevelopment plan, featuring underground utilities, street lighting, street parking, pedestrian-friendly sidewalks, bike lanes, hanging flower baskets, and parks. The property features a new HVAC system, updated electrical with modern lighting, a new water heater and bathroom, and a new garage door in the rear alley. A glass garage door is installed at the front of the building, complemented by new windows and an exterior door. Fresh interior and exterior paint enhance the property's appeal, along with a new awning. The property is suitable for a retail storefront, gallery, restaurant, or creative workspace. The lot size is 0.08 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Paul Webb Designs Production Facility

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -82.352686
    Latitude
    36.312472

    Nearby Similar for Sale

    • $899,900
      5,292 SF

      Commercial Building on Roan Street

      5,200 SF commercial building with high visibility and ample parking.
      3100 N Roan Street, Johnson City, TN 37601
      View Details
    • $849,000
      11,104 SF

      Renovated Office Building, Johnson City

      Turn-key 11,104 SF office building in Johnson City, TN.
      2710 S Roan Street, Johnson City, TN 37601
      View Details
    • $400,000
      1,475 SF

      Prime Downtown Commercial Condo

      High-visibility commercial condo in Johnson City's active downtown corridor.
      124 Tipton Street, Johnson City, TN 37604
      View Details
    • $425,000
      2,600 SF

      Commercial Building with Office Spaces

      Commercial building featuring eight individual office spaces in Johnson City.
      1001 N Roan Street, Johnson City, TN 37601
      View Details
    • $364,500
      2,470 SF

      Versatile Mixed-Use Property, Johnson City

      Office, apartment, and lots on Milligan Highway.
      1306 Milligan Highway, Johnson City, TN 37601
      View Details
    • $750,000
      5,000 SF

      Versatile Commercial Warehouse in Gray, TN

      5,000 sq ft commercial warehouse with offices and secure lot.
      104 Center Street, Johnson City, TN 37615
      View Details
    • $399,900
      2,108 SF

      Newer Duplex in Johnson City

      Mint condition, fully leased duplex built in 2021.
      216 Mckinley Church Road, Johnson City, TN 37604
      View Details
    • $1,219,000
      3,144 SF

      Johnson City Multifamily Investment Opportunity

      Well-maintained 8-unit complex near ETSU, medical facilities, and downtown.
      1419 Colony Park Drive, Johnson City, TN 37604
      View Details
    • $600,000
      5,000 SF

      Downtown Johnson City Mixed-Use Building

      Two-story, 5000 sq ft mixed-use building in downtown Johnson City.
      140 W Market Street, Johnson City, TN 37604
      View Details
    • $377,900

      Johnson City Multifamily Investment Opportunity

      Four-unit apartment building near Milligan University, fully occupied.
      103 Warrior Lane, Johnson City, TN 37601
      View Details
    • $489,000
      3,071 SF

      Johnson City Triple-Income Investment Property

      Versatile property with three income streams in Johnson City, Tennessee.
      1004 N Barton Street, Johnson City, TN 37604
      View Details
    • $2,000,000
      9,500 SF

      Retail Center in Growing Area

      9,500 SF retail center in Johnson City's fastest-growing area.
      110 Whitewood Blvd, Johnson City, TN 37604
      View Details

    FAQs

    What type of property is this?
    Storefront property - 3,500 SF remodeled commercial space in revitalized downtown district.
    Where is this storefront property located?
    The property is located at 331 W Walnut Street Johnson City, TN.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Prime commercial space in the revitalized West Walnut Street district, downtown Johnson City.; Remodeled 3,500 square feet property with modern infrastructure and historic district charm.; Extensive redevelopment plan including underground utilities, stylish street lighting, abundant street parking, pedestrian‑friendly sidewalks, bike lanes, and parks.
    (423) 232-8855
    We can help!
    Listing Contact
    Shannon Clark
    Real Estate License ID: 354489
    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

    Thank You for Inquiry
    331 W Walnut Street, Johnson City, TN 37604
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!