Office Building with Metal
534 & 528 West Market Street Johnson City, TN 37604
534 & 528 West Market Street, Johnson City, TN, 37604
$375,000
For Sale
$375,000
Office building with four offices, kitchen, one restroom, and a newer metal roof, plus ample parking.
Property Size996 SF
Price / SF$376.51
Days on Market179
Property Features for 534 & 528 West Market Street
General Information
- Standard status
- Active
- Size
- 996 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1925
Listing agency
REMAX Checkmate, Inc. Realtors
(423) 282-0432
Listed by
Linda Whitehead · License #220748
Source
Xome
Added: Jan 24 Updated: Jul 21 at 6:27AM Checked: Jul 21 at 6:27AM
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 REMAX Checkmate, Inc. Realtors
Investment Insights
Based on property information with market context.
This office building was previously used as office space and includes four offices and a kitchen. A small enclosed porch offers additional enclosed storage. The property has one restroom. Plumbing was updated a few years ago, including a newer water heater, and the building has a new metal roof.
The site recently operated as a car sales lot and includes plenty of parking. The property also has strong visibility from the main highway/intersection. A sign is noted as not conveying.
The offering includes two parcels: 046O L 020.00 and 046O L 022.00 (R# 1920). The property is located at 534 & 528 West Market Street in Johnson City, TN 37604.
The site recently operated as a car sales lot and includes plenty of parking. The property also has strong visibility from the main highway/intersection. A sign is noted as not conveying.
The offering includes two parcels: 046O L 020.00 and 046O L 022.00 (R# 1920). The property is located at 534 & 528 West Market Street in Johnson City, TN 37604.
Key Highlights
- Approx. 1,000+/- SF office building with 4 offices, kitchen, and 1 restroom
- Metal roof installed; exterior includes a small enclosed porch for storage
- Plumbing updated in the past few years, including a new water heater
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.9k | $24.00 |
| − Vacancy | −$4.3k | −$4.32 |
| EGI | $19.6k | $19.68 |
| − OpEx | −$4.9k | −$4.92 |
| NOI | $14.7k | $14.76 |
996 SF · lease $24.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$210.0K
$183.8K – $245.0K
NOI $14,701 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$420.0K
$367.5K – $490.0K
NOI $29,402 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office building with four offices, kitchen, one restroom, and a newer metal roof, plus ample parking.
Where is this office units located?
The property is located at 534 & 528 West Market Street Johnson City, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approx. 1,000+/- SF office building with 4 offices, kitchen, and 1 restroom; Metal roof installed; exterior includes a small enclosed porch for storage; Plumbing updated in the past few years, including a new water heater
