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    1811 State Of Franklin Rd Johnson City, TN 37604

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    For Lease
    Contact for pricing

    Prime Retail Space Near ETSU

    Lot size:
    4,500 SF

    Property Features for 1811 State Of Franklin Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,500 SF
    Total Rate
    5625

    Building Details

    Year Built
    2011
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 1811 State Of Franklin Rd, Johnson City, TN 37604 Contact us
    Unit Suite 3

    $15 /Mo

    Size
    2,800 SF
    Contact us

    We can help!

    Listing Contact
    Brande Benson
    Brande Benson

    Listing Agency: Avison Young Knoxville Listing Agent: Brande Benson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 4,500 square foot retail property, built in 2011, is ideally situated in Johnson City, TN's Mountain Home/Campus submarket. Located at 1811 West State of Franklin Road, near the intersection of S Greenwood Dr, this single-story building offers two suites, with one 2,800 square foot space currently available. Its prime location boasts high visibility and accessibility, less than a mile from East Tennessee State University (a Division 1 school with nearly 14,000 students) and less than a mile south of Highway 11E. The property benefits from strong surrounding demographics, including proximity to the James H. Quillen VA Medical Center (serving over 170,000 veterans), Kroger, Earth Fare, Zaxby's, Jersey Mike's, Marco's Pizza, and numerous other local businesses. The thriving Downtown Johnson City area, with its diverse restaurants, breweries, and retailers, is also easily accessible. This property presents a unique opportunity to establish a presence in a vibrant and growing community with a significant student and veteran population, anchored by the nearby Franklin Square Shopping Center. The property's excellent location and existing infrastructure make it an attractive investment for a variety of retail or restaurant concepts. The building's single-story design and ample space offer flexibility for various business needs. This is a rare opportunity to secure a well-positioned retail space in a high-demand area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Raymond James Financial ... Financial Advisor Boxcar Barbeque + Cantina Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.380592343184
    Latitude
    36.301123965391

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    FAQs

    What type of property is this?
    Restaurant - Prime Retail Space Near ETSU
    Where is this restaurant located?
    The property is located at 1811 State Of Franklin Rd Johnson City, TN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    (865) 588-8663 Call to check price and availability
    Request Owner's contact information
    1811 State Of Franklin Rd Johnson City, TN 37604
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    Johnson City, TN 37604
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1811 State Of Franklin Rd Johnson City, TN 37604
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    Contact for Pricing
    Please call us for current price
    and status of this listing Brande Benson
    Brande Benson
    Real Estate License ID: 311556
    (865) 588-8663 (865) 450-8883
    Learn more
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