Timber-Frame Brewery with
New
For Sale
$350,000
904 Depot Street, Jonesborough, TN 37659
Commercial Sale, Jonesborough, TN
Property Size2,267 SF
Price / SF$154.39
Days on Market3
Property Features for 904 Depot Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Not In Subdivision
Directions
From Hwy 81 West Main Street turn onto Depot Street.
Standard status
Active
APN
060i B 00101 000
Size
2,267 SF
Taxes and HOA fees
Tax Annual Amount
859
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
bocce ball court
Building Details
Year built
1999
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Property Advisors
(423) 787-0040
Listed By:
Aaron Bible · License #380174
(423) 278-8571
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 11:06AM
MLS# 10001238
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.
Investment Insights
Based on property information with market context.
This brewery property at 904 Depot Street includes a 2,267-square-foot timber-frame commercial building, a loft, a 220-square-foot walk-in cooler, and a detached warehouse used for production and storage. The sale includes building and equipment, including a 10-barrel brewhouse and fermentation system manufactured by Bavarian Brewing Technologies of Hungary. A fitted bar and taproom support continued beverage-service operations, while an exterior bocce ball court provides an additional site feature.
Constructed in 1999, the property has wood siding, a metal roof, central air, and heat-pump heating. Public water and public sewer serve the site. The property is designated Commercial and is located in Jonesborough, Washington County, Tennessee.
Constructed in 1999, the property has wood siding, a metal roof, central air, and heat-pump heating. Public water and public sewer serve the site. The property is designated Commercial and is located in Jonesborough, Washington County, Tennessee.
Key Highlights
- 2,267‑square‑foot timber‑frame commercial brewery building
- 10‑barrel brewhouse and fermentation system by Bavarian Brewing Technologies of Hungary
- 220‑square‑foot walk‑in cooler and detached warehouse
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
$15,377
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
4.39%
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%
$307,540
$307.5K
Cap Rate 7%
$219,671
$219.7K
Cap Rate 9%
$170,856
$170.9K
Market Conditions
NOI Build-Up for 2,267 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
$19.0K $8.40/SF
− Vacancy
−$952 −$0.42/SF
EGI
$18.1K $7.98/SF
− OpEx
−$2.7K −$1.20/SF
NOI
$15.4K $6.78/SF
Area
Washington County, TN
Vacancy
5.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$307,540
Cap Rate 7%
$219,671
Cap Rate 9%
$170,856
Alternative Uses
Best Use
Specialty Retail
$537.2K
$470.1K – $626.8K
NOI $37,607 @ 7.0% cap · market cap 10.74%
Second Best
Warehouse
$219.7K
$192.2K – $256.3K
NOI $15,377 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$956.0K
$836.5K – $1.12M
NOI $66,922 @ 7.0% cap · market cap 19.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 37659, TN
29,313
Population
12,798
Households
2.3
Avg Household Size
45
Median Age
29%
College-Educated
92%
High-School Grad
126.9 sq mi
ZIP Area
231
Density / Sq Mi
$69,765
Median Household Income
$40,962
Median Earnings
$1,034
Median Rent
$241,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Brewery - Commercial brewery with production equipment, a bar, customer-facing taproom, loft, and detached storage warehouse.
Where is this brewery located?
The property is located at 904 Depot Street Jonesborough, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,267‑square‑foot timber‑frame commercial brewery building; 10‑barrel brewhouse and fermentation system by Bavarian Brewing Technologies of Hungary; 220‑square‑foot walk‑in cooler and detached warehouse
