Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,205,000
Warehouses
2203 Mckinley Rd Johnson City, TN 37604-6893
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1306377
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
407,783 SF
Lot
22 ac (958,320 SF)
Zoning code
I-2
APN
053L C 00100
UPID
US80-1306377
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
-
Net Trans Rural Public Transportation Courier Service
-
Burlington park Business Service Center Corporate Office
-
Pike House Coffee Roasters Cafe & Coffee Shop
-
David Bumgarner Physician Medical Clinic
-
BHMA Neurology Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.87M
Blend (final)
Blend
$11.21M
Owner & transaction history
Burlington Mill LLC · 4 yrs held
Burlington Mill LLC
since 2022
Last sale
$11.0M
4 recorded transactions
Zoning & alternative use
I-2 · 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
$12,500,000
ML approach
$10,330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.21M
Range $10.08M – $12.33M · ±10% · vs last sale $11.00M (Mar 10 2022)
Last sale anchor
$11.00M
Mar 10 2022
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
$27 / 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
$1,922,440
Assessed 2023
Previous assessed
$1,922,440
+0.0% YoY
Assessed land
$153,360
Assessed improvement
$1,769,080
Land market value
$383,400
Improvement market value
$4,422,700
Total market value
$4,806,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Rooms
2
Bathrooms
38
Total area
407,783 SF
Lot
22 ac (958,320 SF)
Zoning code
I-2
APN
053L C 00100
UPID
US80-1306377
Jurisdiction
WASHINGTON
Zoning & alternative use
I-2 · Johnson City, TN
Zoning I-2 · permitted uses
I-2 · 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.
Building & site characteristics
From public records
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Units
1
Rooms
2
Bathrooms
38
Lot
22 ac
Current owner
From public records · entity-resolved
Burlington Mill LLC
Entity
Mailing address
119 PAWNEE RD, LAKEWOOD, NJ 08701-1147
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2022
$11,000,000
Burlington Mill LLC
The Michael Company LLC
Special Warranty Deed
$8,600,000 · Eastman Cu
Jun 17, 2021
—
The Michael Company LLC
—
Deed
related
$5,025,000 · Eastman Cu
Apr 22, 2021
—
Burlington Park LLC
Burlington Park LLC
Intrafamily Transfer
related
—
—
—
Marvin G Carter
—
Loan Modification
related
$4,000,000 · Tri-city Community Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2203 Mckinley Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
