For Sale
$2,200,000

3017 Oakland Ave Johnson City, TN 37601

High-yield flex space, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a 20,600-square-foot flex space property located at 3017 E Oakland Ave, Johnson City, TN 37601. The property, built in 1974 and zoned B4 and I1, boasts a strong 7.58% cap rate and a Net Operating Income (NOI) of $166,700, with an asking price of $2,200,000 ($106.80/sq ft). Currently 100% occupied by four tenants under multi-tenant leases, this property offers significant long-term stability. Recent improvements include new membrane roofs installed in 2020/2021 on both buildings, a repaved and expanded parking lot in 2020, and repainting of both buildings in 2021. A space is currently under renovation for a new long-term tenant. The property features four loading docks. Its prime location offers easy access to I-26, Bristol Highway, and State of Franklin Road, making it highly attractive for businesses and investors. The property consists of two parcels, which may be sold separately. This presents a compelling opportunity for investors seeking a high-yield, multi-tenant property in a thriving Johnson City market.

Highlights

  • $2,200,000 asking price for a 20,600 square foot flex space.
  • 7.58% cap rate with a $166,700 NOI.
  • 100% occupancy with four tenants under net lease agreements.
  • Located at 3017 E Oakland Ave, Johnson City, TN 37601, zoned B4 and I1.
  • Features four loading docks and was recently renovated (new roofs 2020/2021, repaved parking lot 2020, repainted 2021).

Property Details for 3017 Oakland Ave

Property type
Retail properties, Office properties
Square Feet
20,600 SF
Year Built
1974

Location Insight

City
Johnson City
County
Washington
State
Tennessee
Latitude
36.360373986158
Longitude
-82.381721847697

FAQs

What type of property is this?
Retail property - High-yield flex space, 100% occupied.
Where is the retail property located?
The property is located at 3017 Oakland Ave Johnson City, TN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: $2,200,000 asking price for a 20,600 square foot flex space.; 7.58% cap rate with a $166,700 NOI.; 100% occupancy with four tenants under net lease agreements.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3017 Oakland Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message