The rental market within Johnson City has been recognized as being very stable and as having consistently low vacancy rates. The subject historically has stayed above 95% occupied, leaving the possibility for new ownership to increase rents.
Included behind the property is over 8 acres of undeveloped land that has been approved for 48 units.
Brush Creek Meadows offers an excellent amenities package, including recently finished mail center, deck stain, playground, and parking lot restriping in addition to:
• 24 Hour Fitness Center
• Resort-Style Saltwater Pool
• Clubhouse/Poolside Wifi
• Outdoor Pavilion with Grill
• Leash-Free Bark Park
• BBQ/Picnic Area
• Basketball Court
• Mailbox Center
• Clothes Care Center
According to Greatschools.org, zoned Fairmont Elementary ranks 9 out of 10, Indian Trail Intermediate ranks 8 out of 10, and Science Hill High ranks 8 out of 10. Within the Johnson City School District itself, many of the other schools are ranked 7 or higher out of 10.
• Johnson City Medical Center: 445 Beds - Top 10 regionally ranked hospital (U.S. News & World Report) and a Top 100 National Heart Hospital (Solucient).
• Franklin Woods Community Hospital: 80 Beds - 240,000 SF facility and Tennessee’s only five-star hospital (Becker’s Hospital Review)
• Mall of Johnson City: Approximately 1,200 jobs and 567,895 SF, anchored by JCPenney, Dick’s Sporting Goods, and Belk
• Johnson City Crossing: 343,935 SF, anchored by Stein Mart, PetSmart, Bed Bath & Beyond, and Ross Dress for Less
East Tennessee State University has 14,500 students enrolled with plans to increase enrollment to 18,000 by 2025. With 80% of its students living off-campus, the increased enrollment will provide steady demand to the area’s rental market.
The Tri-Cities (Bristol, Johnson City, and Kingsport) have a total population of 509,376 people. Residents of Johnson City are within 45 minutes from the Tri-Cities’ 221,000 jobs (U.S. Bureau of Labor Statistics). This CSA is the fifth-largest in Tennessee, among which Johnson City is the largest city. The largest sectors within these areas include Healthcare & Social Assistance, Manufacturing, and Retail.