2000 Franklin Terrace CtJohnson City, TN 37604

  • Retail properties
  • 3,553 SF
For Lease

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
2000 Franklin Terrace Ct, Johnson City, Tennessee

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

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
-
$224,560
$212,480
$437,040
-
$561,400
$531,200
$1,092,600

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