Individually Owned Property summary
AI-generated overview
This exceptional 7,500-square-foot single-tenant property in Johnson City, Tennessee, offers a versatile blend of office and warehouse space, ideal for a variety of businesses. Located in the Hanover Industrial Park at 3 Morgan Ct NW, 37604, this one-story building features 6,000 square feet of office space and 1,500 square feet of warehouse space, with the flexibility to convert 1,000 square feet of office to additional warehouse area as needed. The office area boasts a welcoming waiting/reception area, nineteen individual offices, two conference rooms, a convenient break area, and a dedicated copy/file room. Additional storage is available within the building, including a 5,000-square-foot second-level storage area accessible via double doors. The warehouse itself offers ceiling heights ranging from 12 to 15 feet, and includes a 10x10-foot roll-up drive-in door for easy loading and unloading. The property sits on a large lot providing ample parking and is partially fenced for added security. The property is zoned B-4. Conveniently located with easy access from I-26 via Exit 19, this property presents a unique opportunity for businesses seeking a functional and well-appointed space.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
FRAME
Total area
7,500 SF
Lot
0.59 ac (25,700 SF)
Zoning code
B1
APN
037F A 03000
UPID
US80-0906928
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$543k
Blend (final)
Blend
$265k
Owner & transaction history
since 1993
3 recorded transactions
Zoning & alternative use
B1 · Johnson City, TN
Top alternative use upside
Commercial (general)
$855,000
+125.8%
Retail stores
$610,000
+60.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$265k
Value range
$239k – $292k
±10% around blend
Estimated value / SF
$35 / SF
Confidence
Property data
88
Market benchmarks
67
Comparable evidence
60
$239k
blend $265k
$292k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,500 SF
Lot area
0.59 ac
Year built
1981
Stories
1
APN
037F A 03000
Zoning
B1
Assessed value
$169,480
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$543k
Range $237k – $543k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$265k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 31 sales
$51
-30%
County 39 sales
$51
-30%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $35/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+126%
vs current-use indication
Retail Stores
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$169k
Move the market yield to see immediate price impact.
Value / SF
$23
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$11k
$214k
$153k
$119k
$12k
$237k
$169k
$132k
$13k
$261k
$186k
$145k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Property tax & assessments
Assessed value
$169,480
Assessed 2023
Previous assessed
$169,480
+0.0% YoY
Assessed land
$57,760
Assessed improvement
$111,720
Land market value
$144,400
Improvement market value
$279,300
Total market value
$423,700
Applied tax rate
90.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1981
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
1
Bathrooms
2
Total area
7,500 SF
Lot
0.59 ac (25,700 SF)
Zoning code
B1
APN
037F A 03000
UPID
US80-0906928
Jurisdiction
WASHINGTON
Zoning & alternative use
B1 · Johnson City, TNZoning B1 · permitted uses
B1 · Johnson City, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
2
Lot
0.59 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B1
Jurisdiction
Johnson City, TN
Recorded code
B1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B1 in Johnson City, TN.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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