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

    928 State Of Franklin Rd Johnson City, TN 37604-3668

    • Drive through restaurants
    • 3,750 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2826727
    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

    • Freddy's Frozen Custard & Steakburgers / Restaurant / Take-out & Catering

    Property Details for 928 State Of Franklin Rd

    Year built
    2016
    Construction
    WOOD
    Lot size
    0.97 lot acres
    Property size
    3,750 SF
    Property type
    Drive through restaurants
    APN
    045 05213
    APU
    4505213

    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
    -82.3942
    Latitude
    36.3242
    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
    $237,800
    $263,360
    $501,160
    -
    $594,500
    $658,400
    $1,252,900

    Comparable in this City

    • Value Estimation by Request
      629 SF

      1018 Market St

      DRIVE-THRU RESTAURANT, FAST FOOD • 629 SF
      1018 Market St, Johnson City, TN 37604-5333
      View Details
    • Value Estimation by Request
      2,633 SF

      922 State Of Franklin Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,633 SF
      922 State Of Franklin Rd, Johnson City, TN 37604-3668
      View Details
    • Value Estimation by Request
      4,275 SF

      1710 Market St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,275 SF
      1710 Market St, Johnson City, TN 37604-6021
      View Details
    • Value Estimation by Request
      3,076 SF

      2108 Mountcastle Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,076 SF
      2108 Mountcastle Dr, Johnson City, TN 37604-2514
      View Details
    • Value Estimation
      $2,495,000
      3,120 SF

      3201 Peoples St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,120 SF
      3201 Peoples St, Johnson City, TN 37604-4106
      View Details
    • Value Estimation by Request
      1,749 SF

      930 State Of Franklin Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,749 SF
      930 State Of Franklin Rd, Johnson City, TN 37604-3668
      View Details

    Similar Nearby for Sale

    • $1,950,000
      10,587 SF

      Downtown Restaurant & Brewery Opportunity

      Renovated three-story building with brewery, restaurant, and rooftop bar.
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    • New
      $649,500
      Pending

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      3,500 SF remodeled property in revitalized downtown district.
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    • $2,450,000
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      Downtown Johnson City Restaurant/Brewery

      Thriving Turn-key Restaurant & Brewery
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    • $2,600,000
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      Wendy's Net Lease Investment

      High-Yield QSR in Johnson City, TN
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    • $625,000
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      Classic Building in Redevelopment District

      Over 100-year-old building suitable for restaurant or retail.
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    • $2,000,000
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      9,500 SF retail center in Johnson City's fastest-growing area.
      110 Whitewood Blvd, Johnson City, TN 37604
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    Similar Nearby for Lease

    • $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
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    • $19 SF/Yr
      9,605 SF

      Downtown Johnson City Restaurant Space

      Restaurant space for lease with bar, kitchen, and parking.
      71 Wilson Ave, Johnson City, TN 37604
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    • $15 SF/Yr
      4,500 SF

      Johnson City Retail Opportunity

      Prime Retail Space Near ETSU
      1811 State Of Franklin Rd, Johnson City, TN 37604
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    • $12 SF/Yr
      4,748 SF

      Modern Retail Space on Knob Creek

      Prominent retail/restaurant space with high visibility and ample parking.
      1412 Knob Creek Rd, Johnson City, TN 37604
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    • $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
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    • $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

    Property Visit Statistics

    • Visits by month
      23.3k
    • Visitors by month
      19.1k
    • Avg Time on site
      22 min
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    928 State Of Franklin Rd
    Johnson City, TN 37604-3668
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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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