Revitalized West Walnut Commercial
718 W Walnut Street, Johnson City, TN 37604
New
COMMERCIAL - Johnson City, TN
Property size:
8,120 SFLot size:
0.71 AcresPrice / SF:
$205/SF- Added:
- May 24, 2026
- Days on Market:
- 3
- Last Refresh:
- May 26 at 3:06 pm
Property Features for 718 W Walnut Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- WWD
- Standard status
- Active
- APN
- 054f A 02701 000
- Size
- 8,120 SF
- Lot size
- 0.71 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2129
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Natural Gas, Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1971
- Building materials
- Metal Siding
- Roof type
- Metal
Listing agent Shannon Clark License #354489 (423) 232-8855
Listing office Hurd Realty, LLC 110 KLM Drive Suite 1, Johnson City, TN (423) 491-8335
Listing date May 24, 2026
MLS# 9995869
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, connecting East Tennessee State University to downtown.
- Includes established business (Volunteer Pawn) with name, equipment, and inventory.
- Modern infrastructure upgrades including new water, sewer, and storm drain lines.
- Pedestrian‑friendly design with sidewalks, on‑street parking, bike lane, and accessible green spaces.
- Onsite parking and fully fenced lot.
- Walking distance to East Tennessee State University, Downtown, Founders Park, and Historic Tree Streets.
Overview
This 8,120-square-foot commercial property is located in the revitalized West Walnut Street district of Johnson City, Tennessee, within walking distance of East Tennessee State University, Downtown, Founders Park, and the Historic Tree Streets. The area has been transformed by the City's West Walnut Street Corridor Redevelopment Plan, which includes upgrades to water and sewer lines and storm drains. The new design features a pedestrian-friendly roadway with sidewalks on both sides, on-street parking, a bike lane, and accessible green spaces. The property, situated on a 0.71-acre lot, offers modern infrastructure combined with historic district charm. Highlights include onsite parking, a fully fenced lot, and outdoor space. The current business, Volunteer Pawn, is a well-established name in Johnson City, and the business name, equipment, and inventory are included. The property is zoned WWD.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.41M
NOI $127,031 @ 9.00% cap · cautious / downside scenario
Moderate
$1.81M
NOI $127,031 @ 7.00% cap · market / base-case scenario
Aggressive
$2.54M
NOI $127,031 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $187.1k | $23.04 |
| − Vacancy | −$5.6k | −$0.69 |
| EGI | $181.5k | $22.35 |
| − OpEx | −$54.4k | −$6.70 |
| NOI | $127.0k | $15.64 |
8,120 SF · lease $23.04/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.81M
$1.59M – $2.12M
NOI $127,031 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$3.00M – $4.00M
NOI $239,702 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Volunteer Pawn
Discount Store
Volunteer Printing
Marketing & Advertising
Location Insight
- Map
- Local Demand
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.361106
- Latitude
- 36.30939
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Prime commercial space near ETSU, Downtown, and Founders Park.
Where is this storefront property located?
The property is located at 718 W Walnut Street Johnson City, TN.
What is the asking price?
The asking price for this property is $1,672,500.
What are key features of this property?
This property features: Prime commercial space in the revitalized West Walnut Street district, connecting East Tennessee State University to downtown.; Includes established business (Volunteer Pawn) with name, equipment, and inventory.; Modern infrastructure upgrades including new water, sewer, and storm drain lines.
