Kingsport Multifamily Investment
1425-1405 Stratford Road, Kingsport, TN 37664
COMMERCIAL - Kingsport, TN
Property size:
24,420 SFLot size:
1.82 AcresPrice / SF:
$89/SF- Added:
- Jan 30, 2026
- Days on Market:
- 113
- Last Refresh:
- May 23 at 3:06 pm
Property Features for 1425-1405 Stratford Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R3
- Standard status
- Active
- APN
- 062p G 008.00
- Size
- 24,420 SF
- Lot size
- 1.82 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1979
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agent Garrett Addington License #337697 (423) 646-1060
Listing office The Addington Agency Bristol 121 Bluff City Hwy, Bristol, TN (423) 845-5800
Listing date Jan 30, 2026
MLS# 9990694
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Immediate Value‑Add Opportunity: Seven vacant units provide immediate upside by leasing at market rates (pro forma rents $900-$950), significantly increasing NOI.
- Strong Cash Flow with Upside: Property currently generates a strong return with potential to achieve $180,000-$190,000 annual NOI through lease‑up and market‑rate renewals.
- Flexible Investment: Individually deeded quadplexes allow for selling individual buildings to offset capital or exploring alternative strategies like short‑term rentals.
- Extensive Exterior Renovations: New roof, windows, and siding in 2019, plus select interior upgrades, minimize maintenance and enhance tenant appeal.
- Prime Location: Strategically positioned in Kingsport with direct access to major regional corridors (I‑81, I‑26) and close to major employers like Eastman Chemical and Domtar.
- Strong Tenant Appeal: Each unit features 2 beds/1 bath, laundry hookups, private balconies, dedicated kitchen/dining space, and spacious living areas.
Overview
This multifamily property, Green Valley Manor, features 24 units across six individually deeded quadplexes. Each unit includes 2 bedrooms, 1 bathroom, laundry hookups, private balconies, dedicated kitchen and dining space, and spacious living areas. The property is individually metered throughout. Exterior renovations, including a new roof, windows, and siding, were completed in 2019. Select units have received interior upgrades such as updated flooring, cabinetry, appliances, and finishes. Seven of the 24 units are intentionally held vacant to preserve maximum flexibility during disposition, as current ownership operates under rent limitations associated with its funding structure. Upon transfer of ownership, these rent limitations do not carry forward, aside from honoring existing lease terms, allowing a new owner to lease vacant units and renew tenants at market rates. The property is positioned in a convenient and well-established area of Kingsport, with direct access to Fort Henry Drive, Stone Drive, and major regional corridors including I-81 and I-26. It is located minutes from a growing employment base anchored by major manufacturers and corporate employers such as Eastman Chemical Company and Domtar. The area benefits from a diversified economy spanning healthcare, industrial, and service sectors. The property is suitable for various investment strategies, including selling off individual buildings, exploring short-term rentals where permitted, or continuing to enjoy cash flow from a stabilized asset. The lot size is 1.82 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$2.02M
NOI $182,205 @ 9.00% cap · cautious / downside scenario
Moderate
$2.60M
NOI $182,205 @ 7.00% cap · market / base-case scenario
Aggressive
$3.64M
NOI $182,205 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.4k | $11.40 |
| − Vacancy | −$18.1k | −$0.74 |
| EGI | $260.3k | $10.66 |
| − OpEx | −$78.1k | −$3.20 |
| NOI | $182.2k | $7.46 |
24,420 SF · lease $11.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$2.60M
$2.28M – $3.04M
NOI $182,205 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,584 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$9.14M
$8.00M – $10.67M
NOI $640,140 @ 7.0% cap · market cap 29.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Kingsport
- County
- Sullivan
- State
- Tennessee
- Longitude
- -82.510878
- Latitude
- 36.522876
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - 24-unit multifamily property in Kingsport, TN with value-add potential.
Where is this quadplex located?
The property is located at 1425-1405 Stratford Road Kingsport, TN.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Immediate Value‑Add Opportunity: Seven vacant units provide immediate upside by leasing at market rates (pro forma rents $900-$950), significantly increasing NOI.; Strong Cash Flow with Upside: Property currently generates a strong return with potential to achieve $180,000-$190,000 annual NOI through lease‑up and market‑rate renewals.; Flexible Investment: Individually deeded quadplexes allow for selling individual buildings to offset capital or exploring alternative strategies like short‑term rentals.
