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    Property profile & analytics

    309 Wesley St Johnson City, TN 37601-1721

    • Warehouses
    • 2,400 SF
    • 3.40 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1299899
    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

    • Draeger Ignition Interlock / Building Supply / General Contractor

    Property Details for 309 Wesley St

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.40 lot acres
    Property size
    2,400 SF
    Property type
    Warehouses
    APN
    038B B 01600
    APU
    038BB01600

    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
    Washington
    State
    Tennessee
    Longitude
    -82.3757
    Latitude
    36.3545
    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
    $81,040
    $29,440
    $110,480
    -
    $202,600
    $73,600
    $276,200

    Comparable in this City

    • Value Estimation
      $670,000
      10,800 SF

      3017 Oakland Ave

      WAREHOUSE, STORAGE • 10,800 SF
      3017 Oakland Ave, Johnson City, TN 37601-1526
      View Details
    • Value Estimation
      $515,000
      7,880 SF

      4106 Bristol Hwy

      WAREHOUSE, STORAGE • 7,880 SF
      4106 Bristol Hwy, Johnson City, TN 37601-2932
      View Details
    • Value Estimation
      $2,245,000
      19,692 SF

      3115 Roan St

      WAREHOUSE, STORAGE • 19,692 SF
      3115 Roan St, Johnson City, TN 37601-1532
      View Details
    • Value Estimation
      $585,000
      8,742 SF

      3208 Bristol Hwy

      WAREHOUSE, STORAGE • 8,742 SF
      3208 Bristol Hwy, Johnson City, TN 37601-1552
      View Details
    • Value Estimation by Request
      7,116 SF

      2020 Fairview Ave

      WAREHOUSE, STORAGE • 7,116 SF
      2020 Fairview Ave, Johnson City, TN 37601-2857
      View Details
    • Value Estimation
      $1,315,000
      24,810 SF

      2512 Wesley St

      WAREHOUSE, STORAGE • 24,810 SF
      2512 Wesley St, Johnson City, TN 37601-1724
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

      20+ acres of commercial property ideal for manufacturing, warehousing.
      Roweland Dr, Johnson City, TN 37601
      View Details
    • $1,595,000

      Johnson City Flex Space/Cold Storage

      15,313 SF flex space with cold storage and office.
      4521 Bristol Hwy, Johnson City, TN 37601
      View Details
    • $1,595,000

      Johnson City Flex Space Available

      15,313 SF flex space with cold storage and office.
      4521 Bristol Hwy, Johnson City, TN 37601
      View Details
    • $80,000
      0.95 Acres

      Residential Land Package Near Johnson

      Four residential lots totaling nearly one acre in Carter County.
      Hillside Dr, Johnson City, TN 37601
      View Details
    • $120,000
      0.27 Acres

      Residential Land in Johnson City

      Land in Johnson City's newest development, close to Boone Lake.
      41 Glaze Farm Way, Johnson City, TN 37601
      View Details
    • $2,400,000
      2.70 Acres

      25-Unit Apartment Complex Investment

      Multi-family investment opportunity in Johnson City, Tennessee.
      1106 Fremont Dr, Johnson City, TN 37601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Building with Warehouse Space

      Office building with warehouse for sale near I-26.
      2528 Wesley St, Johnson City, TN 37601
      View Details
    • New
      $389,900
      Pending

      Johnson City Multifamily Investment Property

      Four-unit apartment building near Milligan University, fully occupied.
      103 Warrior Ln, Johnson City, TN 37601
      View Details
    • $5 SF/Yr
      24,751 SF

      Office Space in Johnson City

      Two office suites available for lease in Johnson City, TN.
      312 103, 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
    • $500 /Mo
      150 SF

      Downtown Johnson City Office Space

      Office suites available for lease in downtown Johnson City.
      316 E Main St, Johnson City, TN 37601
      View Details
    • $13 SF/Yr
      2,200 SF

      Peerless Center Office Space Available

      Turnkey office space in a centrally located, prestigious building.
      120 W Springbrook Dr, Johnson City, TN 37601
      View Details
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    309 Wesley St
    Johnson City, TN 37601-1721
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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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