2406 Roan StJohnson City, TN 37601

Property Details for 2406 Roan St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

3.12 AC

Property size (Sq ft)

17,614 SF

Zone code

B4

Property type

Hospitality properties

Property subtype

Motels

APN

038H C 00600

APU

038HC00600

Description

This exceptional commercial property in Johnson City, Tennessee, presents a significant investment opportunity. Located at 2406 N Roan St, this 4.91-acre site comprises two separate parcels, offering considerable flexibility for future development or redevelopment. The property boasts 68,424 square feet of existing space distributed across three buildings, currently housing a restaurant, bar, and hotel. Ample parking is provided with a 175-car lot. The property benefits from a high-traffic location, with over 68,000 vehicles daily passing from Interstate 26 and an additional 25,000 vehicles daily from North Roan Street. Its B4 zoning allows for a wide range of commercial uses. The asking price is $5,200,000, translating to $76 per square foot. Built in 1983, the property is identified by APN 038h C 006.00/038h C 006.04. This prime location and versatile zoning make this an attractive proposition for investors seeking significant returns in a thriving commercial area. All information should be independently verified by prospective buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $3,860,704

  6.5%

  $3,563,726

  7%

  $3,309,174

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,407,878

  Geo Method

  $3,407,878

• Alternative Use

  Use

  Valuation

  Residential

  $3,890,554

  Hospitality

  $3,563,726

  Educational

  $2,964,978

  Medical

  $3,066,948

  Retail

  $4,612,188

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3496

Longitude

-82.3783

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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