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    Property profile & analytics

    112 Elk Ave Elizabethton, TN 37643-3244

    • Turn key restaurants
    • 1,914 SF
    • 100.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 09, 2023
    $245,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3257827
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Nanny's Country Kitchen / Restaurant

    Property Details for 112 Elk Ave

    Year built
    1950
    Lot size
    100.00 lot acres
    Property size
    1,914 SF
    Property type
    Turn key restaurants
    APN
    010041G B 00200
    APU
    010041GB00200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethton
    County
    Carter
    State
    Tennessee
    Longitude
    -82.2241
    Latitude
    36.3493
    CBSA code
    27740
    CBSA name
    JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $17,760
    $16,360
    $34,120
    -
    $44,400
    $40,900
    $85,300

    Comparable in this City

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      851 SF

      101 Jim Elliott Rd

      RESTAURANT • 851 SF
      101 Jim Elliott Rd, Elizabethton, TN 37643-5773
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      2,598 SF

      508 Broad St

      RESTAURANT • 2,598 SF
      508 Broad St, Elizabethton, TN 37643-2718
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      $635,000
      4,884 SF

      Elk Ave

      RESTAURANT • 4,884 SF
      Elk Ave, Elizabethton, TN 37643
      View Details
    • Value Estimation by Request
      760 SF

      Hwy 91

      RESTAURANT • 760 SF
      Hwy 91, Elizabethton, TN 37643
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    • Value Estimation by Request
      2,125 SF

      440 Hwy 91

      RESTAURANT • 2,125 SF
      440 Hwy 91, Elizabethton, TN 37643
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Elizabethton, TN Retail Opportunity

      Retail property with a new 15-year lease in place.
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    • $1,290,000
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      Prime Commercial Land Elizabethton, TN

      2.6 acres suitable for hotel, restaurant, office, or retail.
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    • $1,400,000
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      Prime Elizabethton Outparcel for Development

      8.77-acre outparcel suited for apartments or retail near Wal-Mart and Lowe's.
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    • $1,699,800
      2.10 Acres

      Prime Commercial Location, Elizabethton, TN

      Exceptional commercial properties in high-traffic Elizabethton location with many possibilities.
      111 W Elk Ave/Charlie, Elizabethton, TN 37643
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      High-Visibility Commercial Building on US-19E

      4,300+ SF commercial building on a high-traffic Elizabethton corner.
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    • $499,000
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      Versatile Commercial Property in Elizabethton

      1.7 acre commercial property suitable for various business operations.
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    Similar Nearby for Lease

    • $25 SF/Yr
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      Elizabethton Commercial Space For Lease

      Prime Elizabethton location, 2,000 sq ft, flexible lease.
      315 Broad St, Elizabethton, TN 37643
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      New Mixed-Use Development in Elizabethton

      New downtown development with flexible build-out options, available Spring 2026.
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    • Contact for pricing
      118,834 SF

      Carter County Plaza Retail Space

      Elizabethton, TN Retail Center - For Lease
      768 Elk Ave, Elizabethton, TN 37643
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      High-Visibility Elizabethton Shopping Center

      Prime retail location with high traffic and national co-tenants.
      601 W Elk Ave, Elizabethton, TN 37643
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      55,340 SF

      Betsytowne Shopping Center: Retail Space Available

      Elizabethton, TN Retail Center: Multiple Spaces, High Visibility
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    • Contact for pricing
      10,738 SF

      Retail Space Next to Aldi's

      10,738 SF retail space in busy shopping center.
      791 W Elk Ave, Elizabethton, TN 37643
      View Details
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    112 Elk Ave
    Elizabethton, TN 37643-3244
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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
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