Johnson City Flex Space/Cold
4521 Bristol Hwy, Johnson City, TN 37601
For Sale
$1,595,000
15,313 SF flex space with cold storage and office.
Property Size15,313 SF
Price / SF$104.16
Days on Market250
Property Features for 4521 Bristol Hwy
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Lee & Associates
Listed By:
Taylor Durand · License TN #369177
(865) 776-5662
Source:
Svnwood
Added: Mar 6
Changed: Aug 16
Last Checked: Aug 15 at 1:22PM
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 Lee & Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, situated in the Tri Cities, TN MSA, offers 15,313 square feet of flex space and cold storage in a highly visible location. The property includes 4,200 square feet of cold storage within the warehouse, along with a 4,000-square-foot office and a 7,113-square-foot warehouse. The warehouse features excellent access and clear heights ranging from 14 to 24 feet. Located in a prime retail corridor, the property benefits from a daily traffic count exceeding 25,000 cars per day. The property has one dock door and three drive-in doors. This Johnson City location provides access to key transportation routes and a skilled labor force. Nearby commercial and retail centers offer amenities for employees and residents. The current owner is open to a 5-year leaseback.
Key Highlights
- Highly visible location in a prime retail corridor with 25,000+ daily traffic count.
- Includes 4,200 SF of cold storage space.
- Offers a 5‑year leaseback option.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,275
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,500
$2.2M
Cap Rate 7%
$1,603,929
$1.6M
Cap Rate 9%
$1,247,500
$1.2M
Market Conditions
NOI Build-Up for 15,313 SF
Gross rent
$183.8K $12.00/SF
− Vacancy
−$11.0K −$0.72/SF
EGI
$172.7K $11.28/SF
− OpEx
−$60.5K −$3.95/SF
NOI
$112.3K $7.33/SF
Area
Washington County, TN
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,500
Cap Rate 7%
$1,603,929
Cap Rate 9%
$1,247,500
Alternative Uses
Best Use
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,275 @ 7.0% cap · market cap 7.04%
Second Best
Industrial
$1.32M
$1.15M – $1.54M
NOI $92,131 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$6.46M
$5.65M – $7.53M
NOI $452,040 @ 7.0% cap · market cap 28.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - 15,313 SF flex space with cold storage and office.
Where is this flex space located?
The property is located at 4521 Bristol Hwy Johnson City, TN.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Highly visible location in a prime retail corridor with 25,000+ daily traffic count.; Includes **4,200 SF of cold storage space.**; Offers a 5‑year leaseback option.
