222 East Main Street

About this property

An exceptional opportunity to own a prominent income-producing property in the heart of downtown Johnson City. Located at 222 East Main Street, this approximately 20,600-square-foot building combines an established tenant, a long-term lease and an attractive 8% capitalization rate in one of the region's most vibrant downtown districts. The property is home to Sentimental Journey Antiques & Merchant Mall, a successful destination featuring three floors of antiques, collectibles, home furnishings and merchandise from vendors throughout the region. Its expansive storefront offers excellent visibility along East Main Street, while the welcoming interior features an open central staircase, a second-floor balcony overlooking the main level and decorative ceilings that add to the building's character. A rear entrance provides convenient access to the public parking area behind the property. For an investor seeking a relatively hands-off ownership opportunity, the lease places responsibility for the roof, structure and HVAC with the landlord, while the tenant is responsible for the remaining property obligations and utility expenses. The roof and HVAC systems are in good condition, adding to the appeal of this investment. The tenant is operating under a long-term lease and has expressed an interest in remaining at this location for many years. The setting is an important part of this investment. Downtown Johnson City functions as a walkable, mixed-use district where locally owned restaurants, shops, offices, apartments and short-term rentals are connected by welcoming streets and public spaces. The city has made substantial investments in downtown parks, streets and infrastructure, including Founders Park and King Commons, helping create a place where people want to live, work, shop and gather. Additional plans for growth and improvements reflect a continued commitment to downtown's future. Just around the corner, the historic John Sevier Center is being considered for redevelopment as a hotel. The proposed project represents another potential addition to downtown's mix of destinations and amenities. Johnson City serves as a regional center for healthcare, education and employment. Ballad Health, East Tennessee State University and the James H. Quillen VA Medical Center are significant economic anchors, complemented by ETSU's Quillen College of Medicine and Bill Gatton College of Pharmacy. Together with the region's Appalachian Mountain setting, outdoor recreation and four distinct seasons, these institutions contribute to Johnson City's appeal to residents, businesses and visitors. With its downtown location, established tenant, recent capital improvements and 8% cap rate, 222 East Main Street offers investors the opportunity to acquire a distinctive commercial property in a market that continues to invest in its future.

Subdivision: Not In Subdivision

MLS #10002607 · Tennessee/Virginia Regional MLS

Property facts

Status

Active

Property type

Commercial Lease

Bedrooms

—

Bathrooms

0

Living area

20,643 sq ft

Lot size

—

Year built

1,908

County

Washington

Price / sq ft

$102/sq ft

Days on market

1

MLS number

10002607

Listing office

The Elite Team Agency