142 Market StJohnson City, TN 37604

Property Details for 142 Market St

Year built

1930

Lot size

39.00 AC

Property size (Sq ft)

9,522 SF

Property type

Retail properties

Property subtype

Retail space

APN

046N L 00800

APU

046NL00800

Description

This exceptional turn-key restaurant and brewery, located at 142 W Market St in downtown Johnson City, Tennessee, presents a unique investment opportunity. The 10,587 square foot, two-story building, situated on a 4,051 square foot lot (APN: 046N L 00800), boasts a meticulously renovated interior (2019) within a stunning brick structure built in 1930. The property features a rooftop bar, eight restrooms, a passenger elevator, and a dumbwaiter, ensuring efficient operations. Currently operating at 100% occupancy (as of September 1, 2024), this Class A retail space is zoned B-2 and benefits from a prime corner location with convenient access to public parking and nearby entertainment venues. The asking price is $2,450,000 ($231.42/sq ft). This established business is ready for immediate operation, offering a seamless transition for new ownership. The property's design is optimized for selling locally crafted beer, cocktails, and chef-prepared meals, providing a strong foundation for continued success. This is a rare opportunity to acquire a thriving, established business in a vibrant downtown location. The property's exceptional features and prime location make it an ideal investment for experienced operators or first-time owners seeking a turn-key operation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,701,092

  6.5%

  $2,493,316

  7%

  $2,315,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,975,545

  Geo Method

  $1,975,545

• Alternative Use

  Use

  Valuation

  Residential

  $2,103,205

  Hospitality

  $1,926,524

  Educational

  $1,602,846

  Medical

  $1,657,970

  Retail

  $2,493,316

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3174

Longitude

-82.3553

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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