2000 Franklin Terrace CtJohnson City, TN 37604

Property Details for 2000 Franklin Terrace Ct

Year built

2003

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.55 AC

Property size (Sq ft)

3,553 SF

Property type

Banks

APN

037F A 01403

APU

037FA01403

Description

This exceptional freestanding retail property, totaling 3,552 square feet, presents a unique investment opportunity in Johnson City, Tennessee. Built in 2003, this single-tenant building sits on a 0.55-acre lot and boasts 21 parking spaces, ensuring ample convenience for customers. Its strategic location at the intersection of I-26 and Highway 381 places it within a thriving retail corridor, benefiting from the high foot traffic generated by nearby major retailers. Sam's Club, with its 2.2 million annual visitors, and the Home Depot/Ross center, attracting 3.2 million annual visitors, are key indicators of the area's robust commercial activity. The property's proximity to Franklin Woods Community Hospital, a significant employer with 80 beds and over 200 physicians and staff, further enhances its appeal. The high daytime traffic volume is undeniable, with over 6,900 employees within a one-mile radius and 27,807 employees within three miles. The building's floor area ratio (FAR) is 0.12. This former bank branch offers a drive-thru, adding significant operational flexibility for a variety of retail uses. The entire 3,552 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. This is a rare opportunity to acquire a well-located, high-visibility retail property in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,007,874

  6.5%

  $930,346

  7%

  $863,892

• Comparable approach

  Method

  Valuation

  Relative Method

  $737,147

  Geo Method

  $737,147

• Alternative Use

  Use

  Valuation

  Residential

  $784,781

  Hospitality

  $718,855

  Educational

  $598,079

  Medical

  $618,648

  Retail

  $930,346

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3511

Longitude

-82.4011

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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