Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3071 Hwy 23 Johnson City, TN 37601

    • Retail space
    • 1,640 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Jul 06, 2023
    $125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2123696
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 3071 Hwy 23

    Year built
    1956
    Lot size
    0.15 lot acres
    Property size
    1,640 SF
    Property type
    Retail space
    APN
    010063 03400
    APU
    1006303400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Carter
    State
    Tennessee
    Longitude
    -82.3182
    Latitude
    36.2736
    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
    $16,080
    $19,960
    $36,040
    -
    $40,200
    $49,900
    $90,100

    Comparable in this City

    • Value Estimation by Request
      3,047 SF

      1205 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,047 SF
      1205 Main St, Johnson City, TN 37601
      View Details
    • Value Estimation by Request
      6,000 SF

      1410 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      1410 Main St, Johnson City, TN 37601-4969
      View Details
    • Value Estimation by Request
      2,496 SF

      1352 Milligan Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,496 SF
      1352 Milligan Hwy, Johnson City, TN 37601-5529
      View Details
    • Value Estimation by Request
      1,950 SF

      3069 Hwy 23

      RETAIL STORES (PERSONAL SERVICES) • 1,950 SF
      3069 Hwy 23, Johnson City, TN 37601
      View Details
    • Value Estimation by Request
      2,025 SF

      2601 Watauga Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,025 SF
      2601 Watauga Rd, Johnson City, TN 37601-2200
      View Details
    • Value Estimation by Request
      2,542 SF

      4108 Roan St

      RETAIL STORES (PERSONAL SERVICES) • 2,542 SF
      4108 Roan St, Johnson City, TN 37601-1113
      View Details

    Similar Nearby for Sale

    • $650,000
      4,147 SF

      High-Visibility Commercial Building For Sale

      Income-producing commercial building with high visibility and development potential.
      401 Elm St, Johnson City, TN 37601
      View Details
    • $5,472,000
      14,820 SF

      Walgreens NNN Lease Investment

      High-Yield Pharmacy Investment in TN
      4210 Roan St, Johnson City, TN 37601
      View Details
    • Contact for pricing
      7,491 SF

      Roadrunner Gas Station Investment Opportunity

      NNN leased Roadrunner gas station with 13+ years remaining.
      607 Twin Oaks Dr, Johnson City, TN 37601
      View Details
    • $5,000,000
      54,295 SF

      Southside Plaza Shopping Center

      Established shopping center with long-term tenants and high occupancy.
      1950 S Roan St, Johnson City, TN 37601
      View Details
    • $1,855,000
      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
      View Details
    • Contact for pricing
      7,716 SF

      Retail Property on Roan Street

      Retail property for sale in Johnson City, Tennessee.
      2120-2123 N Roan St, Johnson City, TN 37601
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      1,000 SF

      High-Visibility Commercial Space Available

      Adaptable commercial space with high traffic exposure and ample parking.
      401a Elm St, Johnson City, TN 37601
      View Details
    • Contact for pricing
      10,215 SF

      Retail Space Near Johnson City

      Retail suites available in high-traffic Johnson City location.
      2111 N Roan St, 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
    • $29 SF/Yr
      2,700 SF

      Retail Center in High-Traffic Area

      9,500 SF retail center with high visibility and access.
      110 Whitewood Blvd, Johnson City, TN 37601
      View Details
    • Contact for pricing
      1,200 SF

      Stabilized Shopping Center Investment Opportunity

      28,900 SF shopping center with Grocery Outlet anchor.
      1100-1110 N Roan St, Johnson City, TN 37601
      View Details
    • $24 SF/Yr
      20,472 SF

      Prime Johnson City Retail Space

      1,695 SF Retail/Office Suite Available
      1914 Roan St, Johnson City, TN 37601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3071 Hwy 23
    Johnson City, TN 37601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!