309 Main StJohnson City, TN 37601

Property Details for 309 Main St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

66.00 AC

Property size (Sq ft)

50,044 SF

Property type

Retail properties

Property subtype

Retail space

APN

046M G 00200

APU

046MG00200

Description

This exceptional commercial property, located at 309 E Main St in the heart of Johnson City, TN, presents a unique opportunity for businesses seeking a prominent downtown presence. Formerly occupied by JC Penney, this space is part of the ongoing Henry renovation/revitalization project, ensuring a vibrant and modern environment. The property offers a flexible layout encompassing 7,053 square feet of first-floor retail or office space, complemented by a 6,359 square foot mezzanine level, ideal for additional office space, storage, or specialized functions. While the basement is not currently included in the offering, its availability can be discussed. The total square footage is approximately 13,412 square feet and is subject to minor variations. Benefit from excellent visibility and accessibility, situated conveniently near I-26, exit 23, and approximately 1.5 miles from East Tennessee State University, ensuring a strong potential customer base and employee pool. This single-tenant space is available for both sale and lease, providing options to suit various business needs and investment strategies. This is an exceptional opportunity to establish a thriving business in a revitalized downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $14,195,908

  6.5%

  $13,103,915

  7%

  $12,167,921

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,382,709

  Geo Method

  $10,382,709

• Alternative Use

  Use

  Valuation

  Residential

  $11,053,643

  Hospitality

  $10,125,077

  Educational

  $8,423,945

  Medical

  $8,713,658

  Retail

  $13,103,915

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3176

Longitude

-82.3504

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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