3017 Oakland AveJohnson City, TN 37601

Property Details for 3017 Oakland Ave

Year built

1974

Construction

FRAME

Lot size

1.30 AC

Property size (Sq ft)

10,800 SF

Property type

Industrial properties

Property subtype

Other warehouses

APN

038A A 01201

APU

038AA01201

Description

This exceptional investment opportunity presents a 20,600-square-foot flex space property located at 3017 E Oakland Ave, Johnson City, TN 37601. The property, built in 1974 and zoned B4 and I1, boasts a strong 7.58% cap rate and a Net Operating Income (NOI) of $166,700, with an asking price of $2,200,000 ($106.80/sq ft). Currently 100% occupied by four tenants under multi-tenant leases, this property offers significant long-term stability. Recent improvements include new membrane roofs installed in 2020/2021 on both buildings, a repaved and expanded parking lot in 2020, and repainting of both buildings in 2021. A space is currently under renovation for a new long-term tenant. The property features four loading docks. Its prime location offers easy access to I-26, Bristol Highway, and State of Franklin Road, making it highly attractive for businesses and investors. The property consists of two parcels, which may be sold separately. This presents a compelling opportunity for investors seeking a high-yield, multi-tenant property in a thriving Johnson City market.

• Alternative Use

  Use

  Valuation

  Residential

  $2,385,488

  Hospitality

  $2,185,094

  Educational

  $1,817,972

  Medical

  $1,880,495

  Retail

  $2,827,957

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3598

Longitude

-82.3816

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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