Gray, TN Residential Income Properties for Sale

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Updated: Jan 2

Retail Building and Parcel Package

256 W Main Street, Johnson City, TN 37604

$275,000

2,565 sqft

Three properties under $300K: a commercial building, residential fixer‑upper, and vacant lot – a single investment package.
Prime location near downtown Johnson City and ETSU.
2,500+ sq ft commercial building with excellent visibility and access, previously a successful business since 1962.
Residential fixer‑upper with potential for rental income, flipping, or personal renovation.
Vacant lot (approximately 0.50 acres) suitable for parking, expansion, or development.

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This listing looks promising.

Here's a quick look at some key insights for

256 W Main Street, Johnson City, TN 37604

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Est. Cap Rate

5.3%
NOI ÷ price
Est. NOI

$15K
Annual
Mortgage

$75K
Recorded
Property Type

Retail Stores
Built 1905

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Updated: Apr 27

Johnson City Multifamily Investment Opportunity

1419 Colony Park Drive, Johnson City, TN 37604

$1,219,000

3,144 sqft

8‑unit multifamily complex with eight 2‑bedroom, 1.5‑bath townhome‑style units
Unit occupancy: 7 units occupied; 1 unit intentionally left vacant for showings
Many units updated with new flooring, PEX plumbing, and updated appliances
Heating and cooling provided by heat pump system
Public utilities: public water and public sewer

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Downtown Johnson City Mixed-Use Building

140 W Market Street, Johnson City, TN 37604

$600,000

5,000 sqft 0.05 AC lot

Two-story, 5000 sq ft mixed-use building in downtown Johnson City.

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Commercial Land with Road Frontage

5207 N Roan Street, Gray, TN 37615

$949,900

1,762 sqft 3.70 AC lot

Commercial-zoned land totaling 3.7 acres with substantial road frontage and an on-site brick ranch home.

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Johnson City Multifamily Investment Opportunity

3411 W Walnut St, Johnson City, TN 37604

$674,999

4,125 sqft

Six-unit apartment building with value-add potential in Johnson City.

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Three Unit Investment Property

3536/3538 W Walnut Street, Johnson City, TN 37604

$449,000

1,764 sqft 1.11 AC lot

Three residential units with strong income potential in Johnson City.

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Renovated Mixed-Use Income Portfolio

1412 Knob Creek Road, Johnson City, TN 37604

$1,600,000

10,991 sqft 1.30 AC lot

Renovated 8-unit apartments plus adjacent retail building in B1 zoning on a 1.3-acre lot.

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Updated Duplex With Decks

2426 Old Lewis Road, Johnson City, TN 37601

$325,000

1,524 sqft 0.40 AC lot

Two-unit duplex in Johnson City with updated interiors, outdoor decks, and a level yard supported by a gravel parking drive.

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Income-Producing Residential Investment Opportunity

166-178 Gray Station Road, Johnson City, TN 37615

$599,000

99,999 sqft 3.70 AC lot

Seven single-family homes on 3.7 acres near Gray Station Road.

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Johnson City Mobile Home Park

102 Claude Simmons Road, Johnson City, TN 37604

$1,199,000

5.21 AC lot

Well-maintained 18-unit mobile home park with strong cash flow.

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Creekside Residential Acreage

3239 Knob Creek Road, Johnson City, TN 37615

$165,000

1.00 AC lot

Single-acre property with frontage on Knob Creek Road and an existing farmhouse in poor condition.

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Brick 10-Unit Apartment Building

2820 2822 Plymouth Road, Johnson City, TN 37601

$1,250,000

10 one-bedroom, one-level units with vaulted living areas and a low-maintenance brick exterior in Johnson City, TN.

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Investment Properties with Boone Lake Access

473 Rockingham Road, Johnson City, TN 37615

$539,000

0.53 AC lot

Multiple income-generating properties on 1.15 acres with lake access.

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Fully Rented Fourplex Investment

102 Osborne Private Drive, Johnson City, TN 37601

$400,000

A four-unit rental property with one 2-bedroom unit and three 1-bedroom units, minutes from regional colleges.

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11.5-Acre Land with Pond

381 Possum Hollow Road, Johnson City, TN 37615

$360,000

11.50 AC lot

11.5-acre parcel in Washington County with a pond, pasture and wooded areas, plus existing trailer park infrastructure.

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Income-Producing Residential Investment Opportunity

166-178 Gray Station Road, Johnson City, TN 37615

$599,000

3.70 AC lot

Seven single-family homes on 3.7 acres near Gray Station Road.

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Four-Unit Apartment Complex Investment

150 Joe Hale Drive, Johnson City, TN 37615

$450,000

Fully occupied four-unit apartment complex with income potential.

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Land for Multifamily Units

Kingsport Highway, Johnson City, TN 37615

$79,900

1.00 AC lot

Land suitable for multifamily development in Johnson City, Tennessee.

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Johnson City Triplex For Sale

2305&2303 Abbott Drive, Johnson City, TN 37601

$349,900

2,064 sqft

Triplex with three units, suitable for investors or owner-occupiers.

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Residential Land Parcel with Farmhouse

Moss Creek Dr. Road lot: 5, Johnson City, TN 37604

$599,000

5.43 AC lot

A 5.43-acre residential parcel in Hayes Estates with an existing brick ranch farmhouse and natural spring and mature trees.

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Based on your search, we've compiled Potential Opportunities for your consideration. Besides 20 Active Listings in Gray, TN, we suggest to view alternatives - similar 4 Off-Market properties to explore as potential leads.

Off-Market Properties in Gray, TN

Consider similar Off-Market properties in Gray, TN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Land

0 Boones Station Rd, Gray, TN 37615

Value Estimation by Request

1.50 AC lot

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Multifamily properties

346 Old Gray Station Rd, Gray, TN 37615

Value Estimation by Request

2.44 AC lot

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MOBILE HOME PARK, TRAILER PARK

459 Rockingham Rd, Gray, TN 37615-2926

Unit 457

Value Estimation by Request

100.00 AC lot

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MOBILE HOME PARK, TRAILER PARK

465 Rockingham Rd, Gray, TN 37615-2926

Value Estimation by Request

100.00 AC lot

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Gray, TN Residential Income Properties Market Trends and Statistics

Explore 24 residential income properties for sale in Gray, TN, showcased through 20 active listings on our real estate platform. These investment opportunities span a total of 132,938 square feet of properties for sale, with an estimated market value of $7,041,799.

Sale prices for residential income properties in Gray, TN start at $275,000, averaging $704,179, and reaching up to $1,600,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 22K

Population Growth (5Y) +0.9%

Median Household Income $75,556

College Educated 57.0%

High-Yield Neighborhoods for Investment

Identify Gray submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
Johnson City - 37615	$949.9K

Listings Trend

New vs delisted commercial listings in Washington County

New Delisted

Total CRE Inventory on Market (SF)

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