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

    601 Watauga Ave Johnson City, TN 37604-7581

    • Grocery and convenience stores
    • 4,846 SF
    • 158.00 lot acres
    OFF-MARKET
    Value Estimations
    $410,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1469338
    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

    • Discount Grocery & Tobacco / Convenience Store
    • BudgetCoinz Bitcoin ATM / Atm / Crypto Atm

    Property Details for 601 Watauga Ave

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    158.00 lot acres
    Property size
    4,846 SF
    Property type
    Grocery and convenience stores
    APN
    054C G 03600
    APU
    054CG03600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $453,000
      Market price range: $176k - $747k
      AI Estimate
      $386,000
      Market price range: $126k - $559k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $395,000
      Current use
      COMMERCIAL (GENERAL)
      $555,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3595
    Latitude
    36.3152
    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
    $22,120
    $112,120
    $134,240
    -
    $55,300
    $280,300
    $335,600

    Comparable in this City

    • Value Estimation
      $240,000
      2,550 SF

      Poplar W St

      GROCERY, SUPERMARKET • 2,550 SF
      Poplar W St, Johnson City, TN 37604
      View Details
    • Value Estimation
      $360,000
      1,741 SF

      529 Market St

      GROCERY, SUPERMARKET • 1,741 SF
      529 Market St, Johnson City, TN 37604
      View Details
    • Value Estimation
      $345,000
      8,366 SF

      900 Sunset Dr, Unit A

      GROCERY, SUPERMARKET • 8,366 SF
      900 Sunset Dr, Johnson City, TN 37604-3623
      View Details
    • Value Estimation
      $375,000
      7,875 SF

      832 State Of Franklin Rd

      GROCERY, SUPERMARKET • 7,875 SF
      832 State Of Franklin Rd, Johnson City, TN 37604-3667
      View Details
    • Value Estimation
      $505,000
      1,500 SF

      3658 Market St

      GROCERY, SUPERMARKET • 1,500 SF
      3658 Market St, Johnson City, TN 37604-9302
      View Details
    • Value Estimation
      $355,000
      3,184 SF

      912 Market St

      GROCERY, SUPERMARKET • 3,184 SF
      912 Market St, Johnson City, TN 37604-5331
      View Details

    Similar Nearby for Sale

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      3,500 SF remodeled property in revitalized downtown district.
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    • $287,000
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      Three properties in Johnson City, TN, under $300K.
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    • $425,000
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    • $2,653,000
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      NNN Lease Retail Investment

      Retail property with long-term NNN lease in Johnson City, TN.
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    • $1,999,999

      Refurbished Retail Showroom Near Mall

      8,000 SF retail space with high visibility location.
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    • New
      $725,000
      Pending

      Retail Center in Prime Location

      Strip-style retail center with income potential in thriving Johnson City.
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    Similar Nearby for Lease

    • $12 SF/Yr
      4,500 SF

      Downtown Retail/Office Space Available

      4,500 SF retail/office space in the heart of Downtown.
      117 Spring St, Johnson City, TN 37604
      View Details
    • $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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    • $9 SF/Yr
      3,600 SF

      Retail Space on W Market

      3,600 SF retail space with high visibility.
      2811 W 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
    • $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
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    • $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 Watauga Ave
    Johnson City, TN 37604-7581
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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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