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    207 Mountcastle Dr Johnson City, TN 37601-2525
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    Property profile & analytics

    207 Mountcastle Dr, Johnson City, TN 37601-2525

    View on Map
    • Motels
    • 59,789 SF
    • 2.80 lot acres
    Off-Market
    Last Sale Sep 16, 2021
    $2,614,000
    Property ID
    US80-3481865
    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
    $2,985,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Hub at Mountcastle / Apartment Building

    Property Details for 207 Mountcastle Dr

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.80 lot acres
    Property type
    Motels
    APN
    038O A 00903
    APU
    038OA00903

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 21, 2024 — Mountcastle Drive Apartments LLC — Deed · related $6.1M · Colliers Mortgage LLC
    Sep 16, 2021 $2,614,000 Mountcastle Drive Apartments LLC Ganeshaya Namaha LLC Warranty Deed $4.2M · Trupoint Bank
    Nov 4, 2020 — Ganeshaya Namaha LLC — Deed · related $2.2M · Renasant Bk
    Jul 21, 2020 — Ganeshaya Namahba LLC — Deed · related $170k · Renasant Bk
    Sep 29, 2010 $2,500,000 Namaha Om Ganeshaya Johnson Cit Shri Yogeshwar Deed $2.3M · First Community Bank Of East T
    Jan 26, 2007 — Shri Yogeshwar-johnson City — Trustees Deed · related $300k · Carolina First Bank
    Aug 16, 2004 $1,721,356 Shri Yogeshwar-johnson City Ge Fairfield Inn By Marriott Grant Deed $2.3M · State Bank Of Texas
    Aug 16, 2004 $928,643 Shri Yogeshwar-johnson City Ge Big Boy Properties INC Grant Deed —
    Mar 24, 1998 — Big Boy Properties Big,boy Properti Quit Claim Deed · related —
    — — Ganeshaya Namahba LLC — Loan Modification · related $170k · Renasant Bk
    — — Ganeshaya Namaha LLC — Loan Modification · related $2.2M · Renasant Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,290,000
      ML approach
      $3,415,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,550,000
      Current use
      MEDICAL BUILDING
      $4,930,000
      Change: +93% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,220,000
      Change: +65% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,175,000
      Change: +64% Conversion: Difficult
      RESTAURANT
      $3,950,000
      Change: +55% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,110,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3707
    Latitude
    36.3429
    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
    $482,600
    $541,720
    $1,024,320
    -
    $1,206,500
    $1,354,300
    $2,560,800

    Comparable in this City

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      2606 Roan St

      MOTEL
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    • Value Estimation
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      17,614 SF

      2406 Roan St

      MOTEL
      2406 Roan St, Johnson City, TN 37601-1704
      View Details
    • Value Estimation
      $650,000
      23,309 SF

      1900 Roan St

      HOTEL
      1900 Roan St, Johnson City, TN 37601-7559
      View Details
    • Value Estimation
      $1,965,000
      22,770 SF

      108 Wesley St

      HOTEL
      108 Wesley St, Johnson City, TN 37601-1718
      View Details
    • Value Estimation by Request
      0.50 Acres

      1965 King Spgs Rd

      COMMERCIAL (GENERAL)
      1965 King Spgs Rd, Johnson City, TN 37601-7001
      View Details

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      11,104 SF

      Mixed-Use Property with 11,104 SqFt

      Mixed-use commercial property available for sale, totaling 11,104 square feet.
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    • $650,000
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      Commercial Building Near I-26

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      Johnson City Land For Sale

      3.27-acre tract ideal for residential or multifamily development.
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      Residential Land in Glaze Farm

      Land for sale in Johnson City's Glaze Farm development.
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      12,884 SF

      Night Club with Vacant Lot

      Night club with parking and adjacent 1.98-acre vacant lot.
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    Similar Nearby for Lease

    • $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
    • 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
    • $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
    • Contact for pricing

      Medical Office Condo For Lease

      Medical office condo available for lease in professional park.
      206 Princeton Rd, Johnson City, TN 37601
      View Details

    Property Visit Statistics

    • Visits by month
      17.1k
    • Visitors by month
      14.2k
    • Avg Time on site
      55 min
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    Johnson City, TN 37601-2525
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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.

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