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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Collins Dr Johnson City, TN 37604-2624

    • Auto shops
    • 17,416 SF
    • 2.90 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2023
    $5,808,696
    Value Estimations
    $4,955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1148741
    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

    • Caliber Collision / Auto Body Shop / Auto Bodywork Mechanic

    Property Details for 601 Collins Dr

    Year built
    2023
    Construction
    FRAME
    Lot size
    2.90 lot acres
    Property size
    17,416 SF
    Zone code
    B-4
    Property type
    Auto shops
    APN
    053C C 01400
    APU
    053CC01400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,310,000
      ML approach
      $5,440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,899,000
      Market price range: $672k - $3.90M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,865,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.4032
    Latitude
    36.3106
    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
    $324,480
    $496,240
    $820,720
    -
    $811,200
    $1,240,600
    $2,051,800

    Comparable in this City

    • Value Estimation
      $255,000
      3,308 SF

      621 Collins Dr

      AUTO REPAIR, GARAGE • 3,308 SF
      621 Collins Dr, Johnson City, TN 37604-2624
      View Details
    • Value Estimation
      $350,000
      23,145 SF

      401 Market St

      AUTO REPAIR, GARAGE • 23,145 SF
      401 Market St, Johnson City, TN 37604-5503
      View Details
    • Value Estimation
      $325,000
      12,177 SF

      931 State Of Franklin Rd

      AUTO REPAIR, GARAGE • 12,177 SF
      931 State Of Franklin Rd, Johnson City, TN 37604-7904
      View Details
    • Value Estimation
      $360,000
      925 SF

      501 Rolling Hls Dr

      AUTO REPAIR, GARAGE • 925 SF
      501 Rolling Hls Dr, Johnson City, TN 37604-7483
      View Details
    • Value Estimation
      $205,000
      7,884 SF

      3006 Market St

      AUTO REPAIR, GARAGE • 7,884 SF
      3006 Market St, Johnson City, TN 37604-9306
      View Details
    • Value Estimation by Request
      5,840 SF

      160 Lynn Rd

      AUTO REPAIR, GARAGE • 5,840 SF
      160 Lynn Rd, Johnson City, TN 37604-2600
      View Details

    Similar Nearby for Sale

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      Take 5 Oil Change Investment

      NNN ground lease with a strong, growing tenant.
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    • $1,950,000
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      Downtown Restaurant & Brewery Opportunity

      Renovated three-story building with brewery, restaurant, and rooftop bar.
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      Remodeled Commercial Space, Johnson City

      3,500 SF remodeled property in revitalized downtown district.
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    • $287,000
      Pending

      Commercial Building in Johnson City, TN

      Three properties in Johnson City, TN, under $300K.
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    • $2,450,000
      10,587 SF

      Downtown Johnson City Restaurant/Brewery

      Thriving Turn-key Restaurant & Brewery
      142 Market St, Johnson City, TN 37604
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    • $425,000
      1.00 Acre

      Prime Johnson City Land - High Traffic

      1-acre commercial lot, ideal retail/hospitality.
      100 Highland Ave, Johnson City, TN 37604
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      14,953 SF

      University Centre Office Space

      Johnson City, TN retail & office space available
      1120 State Of Franklin Rd, Johnson City, TN 37604
      View Details
    • $15 SF/Yr
      600 SF

      Retail Space Near Walmart

      Retail space for lease in high-traffic area near Walmart.
      3107 West Market St, Johnson City, TN 37604
      View Details
    • $10 SF/Yr
      9,660 SF

      Downtown Johnson City Retail Space

      Prime retail space, newly renovated, multiple options.
      253 Main St, Johnson City, TN 37604
      View Details
    • $12 SF/Yr
      26,255 SF

      Downtown Johnson City Office Space

      Historic building, 746 sq ft available
      207 Main St, Johnson City, TN 37604
      View Details
    • $18 SF/Yr
      44,457 SF

      Johnson City Retail Spaces Available

      Prime Retail Space, High Traffic Area, Ample Parking
      1069 Hamilton Pl, Johnson City, TN 37604
      View Details
    • $13 SF/Yr
      1,500 SF

      Retail Space in Roan Center

      Retail space for lease in established shopping center.
      101 E Unaka Ave, Johnson City, TN 37604
      View Details
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    601 Collins Dr
    Johnson City, TN 37604-2624
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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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