Two-Building Mixed-Use
New
For Sale
$620,000
Pending
1833&1837 Netherland Inn Road, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size2,610 SF
Lot Size0.59 Acres
Days on Market3
Property Features for 1833&1837 Netherland Inn Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PVD
Directions
From I-81, take Exit 59A onto I-26 W/US-23 N toward Kingsport. Take Exit 1 (West Stone Dr), continue east, turn right onto Center St., then left onto Netherland Inn Rd.
Subdivision
401 - City/Northwest
Standard status
Pending
APN
045k D 00600 000
Size
2,610 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Annual Amount
2133
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1983
Building materials
Aluminum Siding, Wood Siding
Roof type
Metal, Shingle
Listing Agency:
The Elite Team Agency
(423) 656-0333
Listed By:
Michael Mansy · License #387498
(423) 426-4141
Added: Sep 22
Last Checked: Sep 24 at 6:06AM
MLS# 10001230
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.
Investment Insights
Based on property information with market context.
This mixed-use property includes two commercial buildings at 1833 and 1837 Netherland Inn Road. The 2,610-square-foot property was built in 1983 and includes a restaurant and hospitality building alongside a second structure described as flexible commercial space. Construction includes aluminum and wood siding, with natural gas heating, central air, heat pump cooling, public water, public sewer, and metal and shingle roofing.
The 0.59-acre site lies along the Holston River corridor near the Kingsport Greenbelt, historic Netherland Inn, Long Island of the Holston, Downtown Kingsport, and surrounding residential areas. The property is zoned PVD, or Planned Village District. Its dual-address configuration provides separate building identities and supports operation as a unified commercial property or as two independently occupied spaces, subject to applicable requirements and approvals.
The 0.59-acre site lies along the Holston River corridor near the Kingsport Greenbelt, historic Netherland Inn, Long Island of the Holston, Downtown Kingsport, and surrounding residential areas. The property is zoned PVD, or Planned Village District. Its dual-address configuration provides separate building identities and supports operation as a unified commercial property or as two independently occupied spaces, subject to applicable requirements and approvals.
Key Highlights
- Two commercial buildings at 1833 and 1837 Netherland Inn Road
- 2,610 square feet on 0.59 acres
- Zoned PVD, or Planned Village District
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,601
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$552,020
$552.0K
Cap Rate 7%
$394,300
$394.3K
Cap Rate 9%
$306,678
$306.7K
Market Conditions
NOI Build-Up for 2,610 SF
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.
Gross rent
$39.2K $15.00/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$36.8K $14.10/SF
− OpEx
−$9.2K −$3.53/SF
NOI
$27.6K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$552,020
Cap Rate 7%
$394,300
Cap Rate 9%
$306,678
Alternative Uses
Best Use
Specialty Retail
$394.3K
$345.0K – $460.0K
NOI $27,601 @ 7.0% cap · market cap 4.45%
Second Best
Mixed Use
$327.2K
$286.3K – $381.7K
NOI $22,903 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$977.4K
$855.2K – $1.14M
NOI $68,418 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 37660, TN
39,479
Population
20,405
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
65.7 sq mi
ZIP Area
601
Density / Sq Mi
$46,913
Median Household Income
$34,164
Median Earnings
$833
Median Rent
$177,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant and flexible commercial improvements occupy a river corridor site with Planned Village District zoning.
Where is this mixed-use property located?
The property is located at 1833&1837 Netherland Inn Road Kingsport, TN.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Two commercial buildings at 1833 and 1837 Netherland Inn Road; 2,610 square feet on 0.59 acres; Zoned PVD, or Planned Village District
