2000 Franklin Terrace CtJohnson City, TN 37604
- Retail properties
- 3,553 SF
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
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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