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    Property profile & analytics

    473 Fairridge Rd Johnson City, TN 37604

    • Commercial real estate
    • 63.90 lot acres
    For Sale
    View listing
    $8,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0872516
    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

    • Commercial real estate

    Property Details for 473 Fairridge Rd

    Lot size
    63.90 lot acres
    Property type
    Commercial real estate
    APN
    037 08900

    Description

    This exceptional 63.9-acre commercial tract is ideally situated in Johnson City, Tennessee, at the intersection of Knob Creek Road and Fairridge Road, just off State of Franklin Road. Boasting 4,500 linear feet of road frontage, this property offers unparalleled visibility and accessibility. Its Commercial zoning allows for a diverse range of development opportunities, including medical, multi-family, R&D, hospitality, retail, restaurant, technology, mixed-use, and governmental uses. The location is strategically positioned near the Med Tech Park and within five minutes of I-26, Exit 19, benefiting from the rapid growth of the surrounding area. Future infrastructure improvements, including the widening of Knob Creek Road, will further enhance the property's value and accessibility. This site presents a unique opportunity to capitalize on Johnson City's thriving economy and vibrant community, known for its arts scene, education system, and entrepreneurial spirit. The property's APN is 037 08900. The asking price is $8,250,000, translating to approximately $129,107.98 per acre. Detailed property plats and maps are available upon request. This is a remarkable opportunity to acquire a premier commercial land parcel in a rapidly expanding area. The address is 473 Fairridge Rd, Johnson City, TN 37604.

    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
    -82.41034264491
    Latitude
    36.340800927708

    Comparable in this City

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      Johnson City Commercial Land - $495K

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    • $500,000
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      Johnson City Commercial Land Opportunity

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    • $845,000

      Prime Commercial Land For Sale

      1.07 acre site in redeveloping corridor, highly visible.
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    • $60,000
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      Johnson City Land Infill Opportunity

      Vacant land parcel suitable for multi-family development near ETSU.
      1924 Wheeler St, Johnson City, TN 37604
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    • $250,000
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      Prime Land on W. Market

      Vacant land with high visibility and development potential.
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      0.40 Acres

      Residential Lot in Johnson City

      0.40-acre wooded residential lot in a growing Johnson City neighborhood.
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    Similar Nearby for Sale

    • $495,000
      1.46 Acres

      Johnson City Commercial Land - $495K

      1.46 Acres, Planned Business Zoning, I-26 Visibility
      2340 Peoples St, Johnson City, TN 37604
      View Details
    • $500,000
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      Johnson City Commercial Land Opportunity

      Prime I-26 location, diverse development potential.
      2503 Browns Mill Rd, Johnson City, TN 37604
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    • $845,000

      Prime Commercial Land For Sale

      1.07 acre site in redeveloping corridor, highly visible.
      738 West Walnut Street Ext, Johnson City, TN 37604
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    • $60,000
      Pending

      Johnson City Land Infill Opportunity

      Vacant land parcel suitable for multi-family development near ETSU.
      1924 Wheeler St, Johnson City, TN 37604
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    • $250,000
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      Prime Land on W. Market

      Vacant land with high visibility and development potential.
      W Market St, Johnson City, TN 37604
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    • Contact for pricing
      0.40 Acres

      Residential Lot in Johnson City

      0.40-acre wooded residential lot in a growing Johnson City neighborhood.
      1304 Rock Garden Rd, Johnson City, TN 37604
      View Details

    Similar Nearby for Lease

    • $3,495,000
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      Prime Mixed-Use Development Opportunity

      24+ acres for mixed-use development with income potential.
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    • $19 SF/Yr
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      Waterbrooke Office Building For Sale/Lease

      Class A Office Space, Johnson City, TN
      2316 Knob Creek Rd, Johnson City, TN 37604
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    • Contact for pricing
      9,217 SF

      Class A Office Space

      High-profile office space available for sale or lease.
      Knob Creek Rd, Johnson City, TN 37604
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    • $12 SF/Yr
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      Downtown Retail/Office Space Available

      4,500 SF retail/office space in the heart of Downtown.
      117 Spring St, Johnson City, TN 37604
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    • $16 SF/Yr
      672 SF

      Downtown Johnson City Retail Space

      Highly visible retail space for lease in downtown Johnson City.
      128 Spring St, Johnson City, TN 37604
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    • $674,999
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      Johnson City Apartment Building For Rent

      Six-unit apartment building with income potential in Johnson City, TN.
      3411 W Walnut St, Johnson City, TN 37604
      View Details
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    473 Fairridge Rd
    Johnson City, TN 37604
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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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