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    Property profile & analytics

    3515 Bristol Hwy Johnson City, TN 37601-1321

    • Auto shops
    • 35,816 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2022
    $3,000,000
    Value Estimations
    $2,985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1978012
    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

    • Church Mobilization Network / Association / Organization
    • Girls on the Run Northeast Tennessee / Charitable Organization / Social Service Agency
    • Felon Motorwerk Company / Motorcycle Shop
    • Summit Leadership Foundation / Charitable Organization / Social Service Agency
    • Martin Vocational & Career Consulting, LLC / Employment Agency / Tutoring Service

    Property Details for 3515 Bristol Hwy

    Year built
    2004
    Construction
    FRAME
    Lot size
    4.00 lot acres
    Property size
    35,816 SF
    Property type
    Auto shops
    APN
    030 00701
    APU
    3000701

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,526,000
      Market price range: $1.09M - $3.82M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,785,000
      Current use
      RETAIL STORES
      $4,240,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3743
    Latitude
    36.3743
    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
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $3,016,800
    $3,016,800

    Comparable in this City

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      1903 Preston Rd

      AUTO REPAIR, GARAGE • 4,180 SF
      1903 Preston Rd, Johnson City, TN 37601-5061
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      482 Austin Spgs Rd

      AUTO REPAIR, GARAGE • 2,448 SF
      482 Austin Spgs Rd, Johnson City, TN 37601-3044
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    • Value Estimation by Request
      3,136 SF

      2527 Watauga Rd

      AUTO REPAIR, GARAGE • 3,136 SF
      2527 Watauga Rd, Johnson City, TN 37601-2200
      View Details
    • Value Estimation by Request
      2,704 SF

      2507 Elizabethton Hwy

      AUTO REPAIR, GARAGE • 2,704 SF
      2507 Elizabethton Hwy, Johnson City, TN 37601-8106
      View Details
    • Value Estimation by Request
      4,620 SF

      3925 Bristol Hwy

      AUTO REPAIR, GARAGE • 4,620 SF
      3925 Bristol Hwy, Johnson City, TN 37601-1379
      View Details

    Similar Nearby for Sale

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      20,972 SF

      Two-Property Net Lease Portfolio

      Net lease portfolio with national collision repair operator tenant.
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      7,491 SF

      Roadrunner Gas Station Investment Opportunity

      NNN leased Roadrunner gas station with 13+ years remaining.
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      Income-producing commercial building with high visibility and development potential.
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    • $1,855,000
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      Night Club with Vacant Lot

      Night club with parking and adjacent 1.98-acre vacant lot.
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      7,716 SF

      Retail Property on Roan Street

      Retail property for sale in Johnson City, Tennessee.
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    Similar Nearby for Lease

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      4,873 SF

      Downtown Johnson City Retail Space

      Prime Retail/Office, High Ceilings, I-26 Access
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      High-Visibility Commercial Space Available

      Adaptable commercial space with high traffic exposure and ample parking.
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    • $24 SF/Yr
      20,472 SF

      Prime Johnson City Retail Space

      1,695 SF Retail/Office Suite Available
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      Stabilized Shopping Center Investment Opportunity

      28,900 SF shopping center with Grocery Outlet anchor.
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      10,215 SF

      Retail Space Near Johnson City

      Retail suites available in high-traffic Johnson City location.
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      View Details
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    3515 Bristol Hwy
    Johnson City, TN 37601-1321
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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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