300 Sullivan StKingsport, TN 37660

Property Details for 300 Sullivan St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

43.00 AC

Property size (Sq ft)

3,768 SF

Property type

Retail properties

Property subtype

Retail space

APN

082046P D 01800

APU

082046PD01800

Description

This unique 6,400 square foot mixed-use property in downtown Kingsport, Tennessee, presents a compelling investment opportunity. Situated on a 0.07-acre lot at 300 East Sullivan Street (zip code 37660), this building offers a blend of commercial and residential space, perfect for a live-work lifestyle or as a rental income generator. The ground floor boasts a spacious storefront with large windows, ideal for retail or entertainment businesses, benefiting from high foot traffic and excellent visibility. Upstairs, three residential lofts are available – one two-bedroom, two-bathroom unit and two one-bedroom, one-bathroom units – all featuring high ceilings and ample natural light. An additional two-bedroom, one-bathroom unit is located on the ground floor. This property is located in a Tax Opportunity Zone, making it eligible for financial assistance from the City of Kingsport for renovations. The building is currently under active construction, so caution is advised during visits. Included in the sale price of $900,000 are brand-new, uninstalled kitchen appliances (refrigerators, dishwashers, ranges, microwaves), toilets, heat pumps, and bathroom and kitchen fixtures. The property can be purchased as a whole or the lofts sold individually. This is a rare chance to acquire a versatile property in a vibrant downtown setting, offering significant potential for both business and residential income. Don't miss this chance to own a piece of downtown Kingsport's revitalization.

• CAP approach

  CAP return

  Valuation

  6%

  $1,068,863

  6.5%

  $986,643

  7%

  $916,169

• Comparable approach

  Method

  Valuation

  Relative Method

  $781,753

  Geo Method

  $781,753

• Alternative Use

  Use

  Valuation

  Residential

  $832,270

  Hospitality

  $762,355

  Educational

  $634,271

  Medical

  $656,084

  Retail

  $986,643

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5472

Longitude

-82.5568

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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