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Property profile & analytics
OFF-MARKET
Estimated value
$1,285,000
Retail space
404 Roy Martin Rd Johnson City, TN 37615-2248
Individually Owned
9-yr Hold
Absentee Owner
Property ID
US80-2631519
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2017
Construction
FRAME
Total area
11,083 SF
Lot
2.83 ac (123,275 SF)
APN
012 12503
UPID
US80-2631519
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Plaza Package Gray (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Urbane Uncommon Salon Hair Salon
-
Titan Appliance Parts Big Box & Wholesale Store Electronics & Wireless Store
-
Mr. Appliance of The Tri-Cities Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.29M
Owner & transaction history
Petere J Nickels · 9 yrs held
Petere J Nickels
since 2016
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+36.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Johnson City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnson City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,080,000
Current use
AUTO REPAIR, GARAGE
$1,480,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,010,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$116 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$485,640
Assessed 2023
Previous assessed
$485,640
+0.0% YoY
Assessed land
$97,520
Assessed improvement
$388,120
Land market value
$243,800
Improvement market value
$970,300
Total market value
$1,214,100
Applied tax rate
90.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
11,083 SF
Lot
2.83 ac (123,275 SF)
APN
012 12503
UPID
US80-2631519
Jurisdiction
WASHINGTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
2.83 ac
Current owner
From public records · entity-resolved
Petere J Nickels
Individual
Mailing address
903 E 8TH AVE, JOHNSON CITY, TN 37601-3411
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2017
—
Peter J Nickels
—
Trustees Deed
related
$1,530,000 · First Cmnty Bk
Dec 28, 2016
—
Petere J Nickels
B & B Holdings LLC
Quit Claim Deed
related
—
May 18, 2016
$250,000
B & B Holdings LLC
Gray Industrial Dev Corp
Warranty Deed
—
Sep 8, 2004
$381,000
Bank Of Tennessee
Gray Industrial Dev Corp
Warranty Deed
related
—
—
—
Gray Industrial Dev Corp
—
Deed Of Trust
related
$1,500,000 · Trisummit Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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