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    2606 Roan St Johnson City, TN 37601-1708
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    Property profile & analytics

    2606 Roan St, Johnson City, TN 37601-1708

    View on Map
    • Motels
    • 23,358 SF
    • 2.65 lot acres
    Off-Market
    Last Sale Feb 2, 2022
    $2,600,000
    Property ID
    US80-3359976
    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
    $2,740,000
    Show details
    Cap Rate Potential
    5.9%
    Motels
    Location Intelligence

    Current Use by Public Records

    • Baymont by Wyndham Johnson City / Hotel & Motel
    • Cash Express / Loan Service
    • Bristol motor speedway / Tour Operator
    • David E Walker Track at Gentry Field / Sports Field & Court

    Property Details for 2606 Roan St

    Year built
    1971
    Construction
    WOOD
    Lot size
    2.65 lot acres
    Property type
    Motels
    APN
    038H C 01100
    APU
    038HC01100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 2, 2022 $2,600,000 Johnson LLC Bharathy LLC Warranty Deed $2.5M · Peoples Bank
    May 12, 2015 $2,125,000 Bharathy LLC Astha LLC Warranty Deed $1.7M · Trupoint Bank
    Feb 12, 2008 $2,737,500 Astha LLC Ramada Ltd Warranty Deed $839k · Us Small Business Admn
    Jan 22, 1998 $500,000 Jack B Strickland — Grant Deed · related —
    Jul 13, 1995 $1,000 Christina L Parks Archer,tony H Grant Deed $80k · Farm Credit Service
    Sep 16, 1994 — Don Crowe Unknown, Trustees Deed $800k · Broadway Mortgage Partners
    Aug 18, 1994 — Don Crowe Unknown, Trustees Deed $97k · First American National Bank
    — — S E G Development — Deed Of Trust · related $900k · Carter County Bank
    — — Ramada Ltd — Deed Of Trust · related $915k · Areawide Dev Corp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,955,000
      ML approach
      $2,845,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,930,000
      6.5%
      $2,705,000
      7%
      $2,510,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,090,000
      MEDICAL BUILDING
      $1,925,000
      AUTO REPAIR, GARAGE
      $1,650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3805
    Latitude
    36.3526
    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
    $366,560
    $837,200
    $1,203,760
    -
    $916,400
    $2,093,000
    $3,009,400

    Comparable in this City

    • Value Estimation
      $1,025,000
      39,905 SF

      210 Broyles Dr

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      210 Broyles Dr, Johnson City, TN 37601-2508
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    • Value Estimation
      $1,215,000
      17,614 SF

      2406 Roan St

      MOTEL
      2406 Roan St, Johnson City, TN 37601-1704
      View Details
    • Value Estimation
      $2,985,000
      59,789 SF

      207 Mountcastle Dr

      MOTEL
      207 Mountcastle Dr, Johnson City, TN 37601-2525
      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

    Similar Nearby for Sale

    • Contact for pricing
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      Expansive Land with River Frontage

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    • 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
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    • $650,000
      4,147 SF

      Commercial Building Near I-26

      4,147 sq ft commercial building with high visibility.
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    • $295,000
      3.27 Acres

      Johnson City Land For Sale

      3.27-acre tract ideal for residential or multifamily development.
      Old Lewis Rd, Johnson City, TN 37601
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    • $140,000
      Pending

      Residential Land in Glaze Farm

      Land for sale in Johnson City's Glaze Farm development.
      142 Glaze Farm Way, Johnson City, TN 37601
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    • Contact for pricing
      12,884 SF

      Night Club with Vacant Lot

      Night club with parking and adjacent 1.98-acre vacant lot.
      2910 Bristol Hwy, Johnson City, TN 37601
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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
    • $10 SF/Yr
      4,873 SF

      Downtown Johnson City Retail Space

      Prime Retail/Office, High Ceilings, I-26 Access
      313 Main St, Johnson City, TN 37601
      View Details
    • Contact for pricing

      Renovated Retail/Office Space Available

      Newly renovated retail or office space with excellent access.
      322 East Main St, 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

    Property Visit Statistics

    • Visits by month
      2.4k
    • Visitors by month
      1.6k
    • Avg Time on site
      366 min
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    Johnson City, TN 37601-1708
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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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