244 Broad StKingsport, TN 37660

Property Details for 244 Broad St

Year built

1927

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

75.00 AC

Property size (Sq ft)

20,400 SF

Property type

Retail properties

Property subtype

Retail space

APN

082046I F 00200

APU

082046IF00200

Description

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.

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5475

Longitude

-82.5604

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].