Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Grocery and convenience stores
900 Sunset Dr A Johnson City, TN 37604-3623
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US80-0749272
Property summary
AI-generated overview
This exceptional investment opportunity presents a fee-simple ownership of a thriving convenience store and gas station located at 900 Sunset Dr, Johnson City, TN 37604. The property, built in 1996 and renovated in 2021, boasts a substantial 4,348 square feet on a 2.44-acre lot. Currently leased to GPM Investments (dba Roadrunner), a credit-rated tenant with an S&P rating of B+ and NASDAQ symbol ARKO, this property offers an absolute NNN lease with zero landlord responsibilities. The 15-year lease, commencing April 30, 2022, and expiring April 29, 2037, has a remaining term of approximately 12.4 years, providing significant long-term stability. The lease includes four 5-year renewal options and features a 10% rent increase every five years, ensuring consistent NOI growth and inflation protection. The property generates a substantial NOI of $246,149, resulting in a compelling 6.00% cap rate. The asking price is $4,102,000. This is an ideal, management-free investment opportunity in a state with no state income tax. The property's APN is 090045D A 03100. This is a turnkey investment with a strong tenant and a proven track record. The tenant is responsible for all common area maintenance (CAM), taxes, and insurance.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,366 SF
Lot
2.44 ac (106,286 SF)
APN
045D A 03100
UPID
US80-0749272
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
-
Dunkin' Cafe & Coffee Shop
-
Roadrunner Market Grocery & Convenience Store
-
Shell Restaurant
-
Western Union Bank Credit Union
-
ATM - Road Runner Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.16M
Owner & transaction history
National Retail Props INC · 9 yrs held
National Retail Props INC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+64.6%
Commercial (general)
$955,000
+40.7%
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
AUTO REPAIR, GARAGE
$1,115,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$955,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$138 / 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
$655,280
Assessed 2023
Previous assessed
$594,240
+10.3% YoY
Assessed land
$425,200
Assessed improvement
$230,080
Land market value
$1,063,000
Improvement market value
$575,200
Total market value
$1,638,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
1
Bathrooms
2
Total area
8,366 SF
Lot
2.44 ac (106,286 SF)
APN
045D A 03100
UPID
US80-0749272
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
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$955,000
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
2
Lot
2.44 ac
Current owner
From public records · entity-resolved
National Retail Props INC
Entity
Mailing address
1410 COMMONWEALTH DR STE #202, WILMINGTON, NC 28403-0377
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2017
$3,196,734
National Retail Props INC
Quality Properties Gp
Grant Deed
—
Oct 22, 2009
—
Quality Properties
—
Grant Deed
related
$6,000,000 · Bank Of Tennessee
May 10, 2006
—
City Of Johnson City Tennessee
Quality Properties
Warranty Deed
related
—
Feb 13, 1995
$175,000
Lee V Buckner
Buckner,lee V Et
Grant Deed
related
—
Aug 16, 1994
$127,304
Kyle Chinouth
Unknown,
Grant Deed
$161,000 · First Tennessee Bank National
Aug 12, 1994
$127,304
Kyle E Chinonth
Unknown
Grant Deed
—
—
—
Quality Properties Gp
—
Deed Of Trust
related
$2,000,000 · Bank Of Tennessee
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 900 Sunset Dr, Unit A?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
