Brewery with
For Sale
$350,000
904 Depot St, Jonesborough, TN 37659
Includes brewing and fermentation equipment, a separate production and storage building, and an outdoor bocce court.
Property Size2,267 SF
Price / SF$154.39
Days on Market10
Property Features for 904 Depot St
General Information
Standard status
Active
Size
2,267 SF
Listing Agency:
Property Advisors
(423) 787-0040
Listed By:
Aaron Bible · License #380174
(423) 278-8571
Source:
Exprealty
Added: Sep 22
Changed: Sep 28
Last Checked: Sep 30 at 2:53PM
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 Property Advisors
Investment Insights
Based on property information with market context.
The 2,267-square-foot timber-frame brewery includes a loft and a 220-square-foot walk-in cooler. Brewing equipment comprises a 10-barrel brewhouse and fermentation system by Bavarian Brewing Technologies. The property also has a fully equipped bar and taproom, plus a detached warehouse used for production and storage. A bocce court is located outside.
At 904 Depot Street in Jonesborough, the property is offered with its building and equipment. The existing brewery, bar, and taproom configuration supports continued brewery operations.
At 904 Depot Street in Jonesborough, the property is offered with its building and equipment. The existing brewery, bar, and taproom configuration supports continued brewery operations.
Key Highlights
- 2,267 square feet of commercial space in a timber‑frame building
- 10‑barrel brewhouse and fermentation system by Bavarian Brewing Technologies
- 220‑square‑foot walk‑in cooler
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
$13,639
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
3.90%
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%
$272,780
$272.8K
Cap Rate 7%
$194,843
$194.8K
Cap Rate 9%
$151,544
$151.5K
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
$20.4K $9.00/SF
− Vacancy
−$918 −$0.41/SF
EGI
$19.5K $8.59/SF
− OpEx
−$5.8K −$2.58/SF
NOI
$13.6K $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%
$272,780
Cap Rate 7%
$194,843
Cap Rate 9%
$151,544
Alternative Uses
Best Use
Specialty Retail
$537.2K
$470.1K – $626.8K
NOI $37,607 @ 7.0% cap · market cap 10.74%
Second Best
Industrial
$194.8K
$170.5K – $227.3K
NOI $13,639 @ 7.0% cap · market cap 3.90%
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 - Includes brewing and fermentation equipment, a separate production and storage building, and an outdoor bocce court.
Where is this brewery located?
The property is located at 904 Depot St 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 feet of commercial space in a timber‑frame building; 10‑barrel brewhouse and fermentation system by Bavarian Brewing Technologies; 220‑square‑foot walk‑in cooler
