Three-Level Restaurant with
New
For Sale
$625,000
4903 North Roan St, Johnson City, TN 37615
Commercial kitchen, bar, outdoor decking, stage, and event areas support restaurant and hospitality operations.
Property Size5,524 SF
Lot Size1.84 Acres
Price / SF$113.14
Days on Market5
Property Features for 4903 North Roan St
General Information
Standard status
Active
Size
5,524 SF
Lot size
1.84 Acres
Site & Location
Traffic Count
14,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Patio
Yes
Amenities
creek
stage
Building Details
Year Built
1984
Buildings
1
Stories
3
Listing Agency:
Foundation Realty Group
(423) 773-4555
Listed By:
Alexis P Greene · License #362014
Source:
Thecolinandcarlygroup
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 4:41PM
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 Foundation Realty Group
Investment Insights
Based on property information with market context.
This restaurant property includes 5,524 finished square feet arranged across three levels on 1.84 acres. The interior features rough-sawn lumber details, floating staircases, multiple gathering areas, and a lower-level bar. Restaurant infrastructure includes a commercial kitchen with a walk-in cooler, freezer, and pizza oven. An established liquor license is also in place.
Located at 4903 North Roan St in Johnson City, the property fronts Hwy 36, where approximately 14,000 vehicles pass daily, and sits two miles from I-26 Exit 17. Outdoor improvements include expansive decking, a stage, and a large gravel parking and gathering area. A creek runs through the property, adding a defined natural feature to the event and dining setting.
Located at 4903 North Roan St in Johnson City, the property fronts Hwy 36, where approximately 14,000 vehicles pass daily, and sits two miles from I-26 Exit 17. Outdoor improvements include expansive decking, a stage, and a large gravel parking and gathering area. A creek runs through the property, adding a defined natural feature to the event and dining setting.
Key Highlights
- 1.84‑acre restaurant property with 5,524 finished square feet
- Three‑level building with lower‑level full‑service bar and gathering areas
- Commercial kitchen includes walk‑in cooler, freezer, and pizza oven
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,235
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,700
$664.7K
Cap Rate 7%
$474,786
$474.8K
Cap Rate 9%
$369,278
$369.3K
Market Conditions
NOI Build-Up for 5,524 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.7K $9.00/SF
− Vacancy
−$2.2K −$0.41/SF
EGI
$47.5K $8.59/SF
− OpEx
−$14.2K −$2.58/SF
NOI
$33.2K $6.02/SF
Area
Washington County, TN
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,700
Cap Rate 7%
$474,786
Cap Rate 9%
$369,278
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,637 @ 7.0% cap · market cap 14.66%
Second Best
Industrial
$474.8K
$415.4K – $553.9K
NOI $33,235 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,068 @ 7.0% cap · market cap 26.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37615, TN
22,151
Population
9,946
Households
2.2
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
37.6 sq mi
ZIP Area
589
Density / Sq Mi
$75,556
Median Household Income
$43,758
Median Earnings
$966
Median Rent
$261,200
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?
Conventional restaurant - Commercial kitchen, bar, outdoor decking, stage, and event areas support restaurant and hospitality operations.
Where is this conventional restaurant located?
The property is located at 4903 North Roan St Johnson City, TN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1.84‑acre restaurant property with 5,524 finished square feet; Three‑level building with lower‑level full‑service bar and gathering areas; Commercial kitchen includes walk‑in cooler, freezer, and pizza oven
