Retail-Commercial for Sale
Catylist Listing ID: 30703804
Property Subtypes: Free-Standing Building, Other
Building Size (RSF): 20,875 SF
Gross Building Area: See Agent
Sale Price: $850,000
Unit Price: $40.72 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 1/10/2022

Overview / Comments

FOR SALE!! Three (3) Buildings and a Large Parking Lot located on a highly visible Corner in Downtown Kingsport “For Sale”. These properties have been an excellent Investment property for Seller for several years. Two of the buildings are one level and have several offices plus conference rooms and restrooms. The third Building is two levels and has a restaurant and Beauty shop on Main level generating income. The upper level has been apartments. The buildings need to be updated and remodeled to provide a generous income for new owner. Zoned B-2 they could have some professional or retail business and residential upstairs. They are in a Redevelopment District and also in an Enterprise Zone, so there are some possible tax incentives for the Investor. The 2 one level buildings have 4875sf & 2580sf and the 2 level building has 6710sf on each level. The parking lot can generate some excellent income by leasing spaces monthly. These properties are located across the street from the New City Office Building, so there will be excellent traffic around the properties. The Seller will also sell the Buildings Individually if requested. This is an Excellent Opportunity for Developer/Investor. Don’t Miss This Opportunity!!

Attachments & Media

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Property Visibility: Excellent
Tenancy: Multiple Tenants

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,531 40,259 67,781
Median Age: 39.08 43.38 43.63
Households: 2,411 17,961 29,709


Photograph of Listing Agent

John Moody

Blue Ridge Propertie
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