Five Points Restaurant and Apartments

Retail-Commercial for Sale
Also listed as Multi-Family
Catylist Listing ID: 30376655
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Other
Building Size (RSF): 8,400 SF
Gross Building Area: See Agent
Gross Land Area: 0.20 Acres
Sale Price: $299,000
Unit Price: $35.60 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/23/2020

Overview / Comments

Income producing building at the corner of Boone and Sullivan Streets in historic Downtown Kingsport. Built in 1920, the 8400 sq ft 2-story building houses a restaurant on the first floor and six apartments on the second floor. The property has street front parking and also includes a vacant lot adjacent on Sullivan Street for parking or potentially outdoor space for the restaurant.

The six apartments are rented and have several long term residents. Recent upgrades to second floor include new flooring, painting, stairwell improvements plus window and door repairs. The restaurant, Two Dads' Café and Catering has been in place for years and is well known. Currently the building is completely leased. Has future potential for owner users also.

Property is situated at signaled corner intersection of East Sullivan Street and Cherokee Street with city parking lot across Cherokee for more parking options. Immediate area is encompassed by proposed Downtown Kingsport Master Plan, see attached link for further information. See agent for additional details.

Attachments & Media

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 046O A 023.00; 046O A 022.00

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,601 43,831 69,845
Median Age: 39.27 43.72 43.56
Households: 2,456 19,588 30,547
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