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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Banks
1616 Market St Johnson City, TN 37604-6019
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-0572062
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,355 SF
Lot
1.99 ac (86,684 SF)
Zoning code
B4
APN
054A F 01600
UPID
US80-0572062
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Commercial Bank Bank Loan Service
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$731k
Blend (final)
Blend
$545k
Owner & transaction history
Kalogeros Legacy LLC · 1 yrs held
Kalogeros Legacy LLC
since 2024
6 recorded transactions
Zoning & alternative use
B4 · Johnson City, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Johnson City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnson City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$795,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$30 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$903,520
Assessed 2023
Previous assessed
$903,520
+0.0% YoY
Assessed land
$631,040
Assessed improvement
$272,480
Land market value
$1,577,600
Improvement market value
$681,200
Total market value
$2,258,800
Applied tax rate
90.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
12
Bathrooms
4
Total area
18,355 SF
Lot
1.99 ac (86,684 SF)
Zoning code
B4
APN
054A F 01600
UPID
US80-0572062
Jurisdiction
WASHINGTON
Zoning & alternative use
B4 · Johnson City, TN
Zoning B4 · permitted uses
B4 · Johnson City, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Johnson City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$795,000
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
12
Bathrooms
4
Lot
1.99 ac
Current owner
From public records · entity-resolved
Kalogeros Legacy LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2531 N ROAN ST STE #1, JOHNSON CITY, TN 37601-1760
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2024
—
Kalogeros Legacy LLC
—
Deed
related
$215,973 · Eclipse Bank
Jul 30, 2024
—
Kalogeros Legacy LLC
Kalogeros Properties LLC
Lease
—
Feb 14, 2023
—
Kalogeros Properties LLC
—
Deed
related
$2,800,000 · Eclipse Bank INC
Mar 21, 2003
$736,200
First States Investors 70 LLC
Bank Of America
Grant Deed
related
—
—
—
Kalogeros Properties LLC
—
Deed Of Trust
related
$800,000 · Eastman Cu
—
—
Kalogeros Properties LLC
—
Deed Of Trust
related
$133,711 · Eastman Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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