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    1402 Millard St Johnson City, TN 37601
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    Property profile & analytics

    1402 Millard St, Johnson City, TN 37601

    View on Map
    • Warehouses
    • 7,468 SF
    • 100.00 lot acres
    Off-Market
    Property ID
    US80-0738861
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1402 Millard St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    100.00 lot acres
    Property type
    Warehouses
    APN
    047A D 01400
    APU
    047AD01400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 2, 2018 $170,000 White Oak Ptshp Kay,sherri T Warranty Deed $136k · Citizens Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3387
    Latitude
    36.3328
    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
    $8,840
    $55,320
    $64,160
    -
    $22,100
    $138,300
    $160,400

    Comparable in this City

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      10,800 SF

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      7,880 SF

      4106 Bristol Hwy

      WAREHOUSE, STORAGE
      4106 Bristol Hwy, Johnson City, TN 37601-2932
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    • Value Estimation
      $2,245,000
      19,692 SF

      3115 Roan St

      WAREHOUSE, STORAGE
      3115 Roan St, Johnson City, TN 37601-1532
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    • Value Estimation
      $585,000
      8,742 SF

      3208 Bristol Hwy

      WAREHOUSE, STORAGE
      3208 Bristol Hwy, Johnson City, TN 37601-1552
      View Details
    • Value Estimation by Request
      7,116 SF

      2020 Fairview Ave

      WAREHOUSE, STORAGE
      2020 Fairview Ave, Johnson City, TN 37601-2857
      View Details
    • Value Estimation
      $1,315,000
      24,810 SF

      2512 Wesley St

      WAREHOUSE, STORAGE
      2512 Wesley St, Johnson City, TN 37601-1724
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

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    • $1,595,000

      Johnson City Flex Space/Cold Storage

      15,313 SF flex space with cold storage and office.
      4521 Bristol Hwy, Johnson City, TN 37601
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    • New
      $399,000
      2,400 SF

      Versatile Commercial Warehouse in Johnson City

      Commercial warehouse property with expansion potential near I-26.
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      Johnson City Flex Space Available

      15,313 SF flex space with cold storage and office.
      4521 Bristol Hwy, Johnson City, TN 37601
      View Details
    • Contact for pricing
      11,104 SF

      Mixed-Use Property with 11,104 SqFt

      Mixed-use commercial property available for sale, totaling 11,104 square feet.
      2710 S Roan St, Johnson City, TN 37601
      View Details
    • Contact for pricing
      7,393 SF

      Expansive Land with River Frontage

      218+ acre property with Watauga River frontage.
      373 Dalewood Rd, Johnson City, TN 37601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,929 SF

      Flexible Office Space Available

      Office building with flex spaces in Johnson City business district.
      207 Broyles Dr, Johnson City, TN 37601
      View Details
    • New
      $575,000
      4,848 SF

      Commercial Building in Johnson City

      Commercial property with leases in place, suitable for multiple uses.
      4 Worth Cir, Johnson City, TN 37601
      View Details
    • $695 /Mo
      400 SF

      Downtown Johnson City Office Space

      Office space for lease in historic downtown Johnson City.
      112 E Myrtle Ave, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Downtown Johnson City Office Building

      Free-standing office building with modern finishes and private parking.
      105 East Walnut Street Ext, Johnson City, TN 37601
      View Details
    • $2,400,000
      16,200 SF

      25-Unit Apartment Complex Investment

      Multi-family investment opportunity in Johnson City, Tennessee.
      1106 Fremont Dr, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Retail Space Near Johnson City

      Retail space in a high-traffic location near Johnson City Mall.
      2111 N Roan St, Johnson City, TN 37601
      View Details
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    Johnson City, TN 37601
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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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