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    309 Main St Johnson City, TN 37601

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    309 Main St Johnson City, TN 37601

    View on Map
    • Retail space
    • 50,044 SF
    • 66.00 lot acres
    Off-Market
    Property ID
    US80-1866821
    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
    $1,465,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • belshire timesheet / Association Or Organization
    • Tri Cities Segway Tours / Travel Agency / Tour Operator

    Property Details for 309 Main St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    66.00 lot acres
    Property size
    50,044 SF
    Property type
    Retail space
    APN
    046M G 00200
    APU
    046MG00200

    Description

    This exceptional commercial property, located at 309 E Main St in the heart of Johnson City, TN, presents a unique opportunity for businesses seeking a prominent downtown presence. Formerly occupied by JC Penney, this space is part of the ongoing Henry renovation/revitalization project, ensuring a vibrant and modern environment. The property offers a flexible layout encompassing 7,053 square feet of first-floor retail or office space, complemented by a 6,359 square foot mezzanine level, ideal for additional office space, storage, or specialized functions. While the basement is not currently included in the offering, its availability can be discussed. The total square footage is approximately 13,412 square feet and is subject to minor variations. Benefit from excellent visibility and accessibility, situated conveniently near I-26, exit 23, and approximately 1.5 miles from East Tennessee State University, ensuring a strong potential customer base and employee pool. This single-tenant space is available for both sale and lease, providing options to suit various business needs and investment strategies. This is an exceptional opportunity to establish a thriving business in a revitalized downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,717,000
      Market price range: $1.72M - $7.35M

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3504
    Latitude
    36.3176
    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
    $17,680
    $213,480
    $231,160
    -
    $44,200
    $533,700
    $577,900

    Comparable in this City

    • Value Estimation by Request
      2,080 SF

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      View Details
    • Value Estimation by Request
      2,802 SF

      1407 Fairview Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,802 SF
      1407 Fairview Ave, Johnson City, TN 37601-3509
      View Details
    • Value Estimation by Request
      2,400 SF

      Milligan Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      Milligan Hwy, Johnson City, TN 37601
      View Details
    • Value Estimation by Request
      1,760 SF

      4519 Bristol Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      4519 Bristol Hwy, Johnson City, TN 37601-2937
      View Details
    • Value Estimation by Request
      2,200 SF

      400 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      400 Broadway St, Johnson City, TN 37601-3531
      View Details
    • Value Estimation by Request
      1,250 SF

      149 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      149 Broadway St, Johnson City, TN 37601-4958
      View Details

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      5,200 SF commercial building with high visibility and ample parking.
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      Roadrunner Gas Station Investment Opportunity

      NNN leased Roadrunner gas station with 13+ years remaining.
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    Similar Nearby for Lease

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    • $10 SF/Yr
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      Downtown Johnson City Retail Space

      Prime Retail/Office, High Ceilings, I-26 Access
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      View Details
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      Retail Space Near Johnson City

      Retail space in a high-traffic location near Johnson City Mall.
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      Stabilized Shopping Center Investment Opportunity

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      Four-Unit Apartment Building For Rent

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      Land at Lighted Intersection

      One acre of land in North Johnson City.
      100 W Mountain View Rd, Johnson City, TN 37601
      View Details
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    309 Main St
    Johnson City, TN 37601
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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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    309 Main St, Johnson City, TN, 37601

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