501 Walnut StJohnson City, TN 37604

Property Details for 501 Walnut St

Year built

1946

Lot size

0.24 AC

Property size (Sq ft)

5,480 SF

Property type

Other commercial real estate

APN

054C H 03200

APU

054CH03200

Description

This exceptional 3,652 square foot restaurant space, located at 501 W Walnut St, Johnson City, TN 37604, presents a unique investment opportunity. Situated on a 0.24-acre lot in the heart of the W. Walnut Street Redevelopment Corridor, this property boasts a prime location directly across from the recently remodeled Model Mill. Built in 1920, this single-story, Class C building features a spacious interior, complemented by a 2,083 square foot patio ideal for outdoor events. The property includes 29 parking spaces and a 20' x 82' floored attic offering ample storage. Recent upgrades include new double-hung insulated windows on the front, new wiring, new sheetrock, and updated his and her bathrooms. All utility hook-ups have been modernized as part of the city's redevelopment improvements. The property is vacant and ready for immediate occupancy. This fee-simple ownership opportunity is further enhanced by its location within a Tax Increment Financing District, offering significant growth potential. The APN is 054C H 032.00 and the permitted zoning is WWD. This is a rare chance to acquire a well-positioned, historic building with significant upside in a thriving downtown area. The building is vacant and readily available for viewing.

• Alternative Use

  Use

  Valuation

  Residential

  $1,210,414

  Hospitality

  $1,108,733

  Educational

  $922,453

  Medical

  $954,177

  Retail

  $1,434,926

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.311

Longitude

-82.3554

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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