Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2817 Market St Johnson City, TN 37604
    Property profile & analytics

    2817 Market St, Johnson City, TN 37604

    View on Map
    • Land
    • 0.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2817 Market St

    Lot size
    0.70 lot acres
    Property type
    Land

    Description

    This exceptional 0.7-acre commercial land parcel, located at 2817 W Market St, Johnson City, TN 37604 (APN: 055E-A-001.11), presents a remarkable investment opportunity. Priced at $380,000, this fee simple property boasts a highly visible location with B4 & MS1 zoning, making it perfect for a variety of commercial ventures, including a stand-alone building or a retail strip center. Preliminary grading is complete, simplifying development. The property benefits from convenient access, including a transportation easement providing access to Lakebridge Nursing Home. Its strategic placement offers unparalleled visibility, situated seconds from Walmart and boasting the highest traffic count in Johnson City. Furthermore, its proximity to major employers—the VA Hospital, Ballad Health Hospital, and ETSU—ensures a robust customer base. Enjoy stunning mountain views from this exceptional site. Public utilities are readily available. Directions: From State of Franklin Road, turn onto W. Market Street toward Jonesborough. The property is on the left, after Universal Wine & Liquor Store and before the Atmos Energy building. A "For Sale" sign is clearly visible on the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3989
    Latitude
    36.3094

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      100 Highland Ave

      Individual retail properties
      100 Highland Ave, Johnson City, TN 37604
      View Details
    • Value Estimation by Request
      10.00 Acres

      Tbd Peoples St

      Individual retail properties
      0 Tbd Peoples St, Johnson City, TN 37604
      View Details
    • Value Estimation by Request
      2.75 Acres

      Tbd Peoples St

      Land
      0 Tbd Peoples St, Johnson City, TN 37604
      View Details
    • Value Estimation by Request
      4.09 Acres

      Mountain View Rd

      Land
      0 Mountain View Rd, Johnson City, TN 37604
      View Details
    • Value Estimation by Request
      63.90 Acres

      473 Fairridge Rd

      Land
      473 Fairridge Rd, Johnson City, TN 37604
      View Details
    • Value Estimation by Request
      1.46 Acres

      2340 Peoples St

      Land
      2340 Peoples St, Johnson City, TN 37604
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Level Lot with Road Frontage

      Level lot with 238' road frontage, adjacent to Carabba's.
      Marketplace Blvd, Johnson City, TN 37604
      View Details
    • $230,000
      1.77 Acres

      Spacious Land in Johnson City

      1.77 acres of buildable land in a desirable location.
      Johnson City, TN 37604
      View Details
    • $175,000
      3.15 Acres

      Residential Land in Johnson City

      3.149-acre property for custom home, convenient to amenities.
      W Walnut St, Johnson City, TN 37604
      View Details
    • $49,900
      Pending

      Cleared Lot Ready to Build

      Building lot ready for single-family or double-wide homes.
      2208 David Miller Rd, Johnson City, TN 37604
      View Details
    • $84,900
      0.78 Acres

      Commercial Lot in High-Traffic Area

      Prime commercial lot in Johnson City, ready for development.
      2301 S Greenwood Dr, Johnson City, TN 37604
      View Details
    • $627,000
      6.27 Acres

      Spacious Acreage in Johnson City

      6.27 acres of level land with multiple potential homesites.
      Moss Crk Dr. Rd, Johnson City, TN 37604
      View Details

    Similar Nearby for Lease

    • $3,495,000
      3,536 SF

      Prime Mixed-Use Development Opportunity

      24+ acres for mixed-use development with income potential.
      154 Salvage Ln, Johnson City, TN 37604
      View Details
    • $800,000

      Commercial Lots in Prime Location

      Four commercial lots in Johnson City, ideal for apartments.
      1107 Clinchfield St, Johnson City, TN 37604
      View Details
    • $10 SF/Yr
      4,386 SF

      Retail Space Near ETSU

      Retail space available near East Tennessee State University.
      1805 W State Of Franklin Rd, Johnson City, TN 37604
      View Details
    • Contact for pricing
      1,325 SF

      Johnson City Office Space Available

      Office space for lease near retail corridor and I-26.
      4 Limited Centre St, Johnson City, TN 37604
      View Details
    • Contact for pricing

      Retail Center Space For Lease

      Retail space available in University Centre near ETSU.
      1120 W State Of Franklin Rd, Johnson City, TN 37604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2817 Market St
    Johnson City, TN 37604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2817 Market St, Johnson City, TN, 37604
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!