Four-Unit Multifamily
For Sale
Contact for pricing
510 LAMONT ST, Johnson City, TN 37604
Four-unit multifamily building offered for sale with a total size of 2,688 square feet.
Property Size2,688 SF
Price / SF$148.81
Days on Market176
Property Features for 510 LAMONT ST
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multifamily
Zoning
R4
Additional Details
Multifamily Units
4
Building Details
Year Built
1923
Stories
2
Units
4
Listing Agency:
Lefemine Commercial Properties
Listed By:
David Lefemine · License #TN 214589
(423) 306-0400
Source:
Crexi
Added: Apr 30
Changed: Oct 7
Last Checked: Oct 20 at 7:57PM
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 Lefemine Commercial Properties
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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 four-unit multifamily property is offered for sale and features four separate units within a single building. The total building size is 2,688 square feet.
The property is located at 510 Lamont St in Johnson City, Tennessee.
The offering is structured as a residential income asset with four units.
The property is located at 510 Lamont St in Johnson City, Tennessee.
The offering is structured as a residential income asset with four units.
Key Highlights
- Four‑unit multifamily building
- Total building size: 2,688 SF
- Built in 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,091
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,820
$341.8K
Cap Rate 7%
$244,157
$244.2K
Cap Rate 9%
$189,900
$189.9K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$26.1K $9.72/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$24.4K $9.08/SF
− OpEx
−$7.3K −$2.73/SF
NOI
$17.1K $6.36/SF
Area
Washington County, TN
Vacancy
6.55%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,820
Cap Rate 7%
$244,157
Cap Rate 9%
$189,900
Alternative Uses
Best Use
Multifamily LT 5
$244.2K
$213.6K – $284.9K
NOI $17,091 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$217.1K
$189.9K – $253.3K
NOI $15,195 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.13M
$991.9K – $1.32M
NOI $79,350 @ 7.0% cap · market cap 19.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 37604, TN
37,025
Population
19,334
Households
1.9
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
33.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$49,351
Median Household Income
$31,863
Median Earnings
$950
Median Rent
$231,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily building offered for sale with a total size of 2,688 square feet.
Where is this quadplex located?
The property is located at 510 LAMONT ST Johnson City, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit multifamily building; Total building size: 2,688 SF; Built in 1923
