For Sale
$1,559,000

237-245 Broad StKingsport, TN 37660

22,300 SF Executive Office, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 22,300 square foot, two-story executive office building situated on a 6,813 square foot lot at 237-245 Broad St, Kingsport, TN 37660. Built in 1930, this property offers significant value-add potential within Kingsport's revitalized downtown district. The asking price is $1,559,000, translating to $69.91 per square foot. Located in a thriving Opportunity Zone, this property benefits from various tax incentives. The portfolio's diverse income streams, derived from a mix of retail and office spaces, ensure a steady cash flow. Its prime location offers proximity to local amenities, government incentives, and a strong community, making it an attractive prospect for investors seeking immediate returns and long-term growth. The property's current configuration allows for creative updates and renovations to capitalize on the robust demand for commercial and residential spaces in this area. This presents a unique chance to contribute to the ongoing revitalization of downtown Kingsport, a community experiencing a renaissance focused on arts, culture, and commerce. The property's strong location enhances its desirability for tenants and patrons alike, due to its proximity to restaurants, shops, parks, and public transportation. This is an ideal opportunity for 1031 exchange investors.

Highlights

  • $1,559,000 asking price for a 22,300 square foot mixed-use property.
  • Prime downtown Kingsport location in a revitalization area, offering proximity to amenities and government incentives.
  • Mixed-use portfolio with retail, office, and residential components providing diverse income streams.
  • Located in an Opportunity Zone, offering significant tax advantages for qualified investors.
  • Value-add potential through renovations and lease optimization in a high-demand area.
  • Currently generating rental income providing immediate cash flow.

Property Details for 237-245 Broad St

Property type
Retail properties, Office properties
Square Feet
22,300 SF
Year Built
1930
Stories
2

Location Insight

City
Kingsport
County
Sullivan
State
Tennessee
Latitude
36.5468948
Longitude
-82.5599122
237-245 Broad St, Kingsport, Tennessee

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237-245 Broad St
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