244 Broad StKingsport, TN 37660

This exceptional value-add opportunity presents a two-story, 24,835 square foot commercial building located at 244 Broad Street in Kingsport, Tennessee. Built in 1927, this Class B property boasts a mix of executive office and restaurant space, currently housing 13 tenants with 67% occupancy. The property sits on a 10,350 square foot lot and offers a compelling net operating income (NOI) of $113,064, translating to a 7.20% cap rate and a price per square foot of $60.40. The asking price is $1,570,000. This multi-tenant property operates under a net lease agreement. Situated in the heart of downtown Kingsport's revitalization efforts, this property benefits from its prime location, proximity to local amenities, and the advantages of being within an Opportunity Zone, offering significant tax incentives for qualified investors. The building's first floor currently houses two retail tenants, presenting a strong foundation for future growth and redevelopment. This property is offered individually, but is also part of a larger portfolio of commercial properties available for sale. The property's strong cash flow and redevelopment potential make it an ideal investment for value-add investors, entrepreneurs, and 1031 exchange buyers seeking a high-return opportunity in a thriving downtown area.