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    2008 Bloomingdale Rd Kingsport, TN 37660

    Sponsored
    For Sale
    $425,000

    MULTI_FAMILY - Other - Kingsport, TN

    Property size:
    5,100 SF
    Lot size:
    0.27 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 13 at 7:06 pm

    Property Features for 2008 Bloomingdale Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R 1
    Rooms
    Bedroom 7, Bedroom 10, Bedroom 11, Bedroom 12, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 3, Basement, Bedroom 1, Bedroom 9, Bedroom 8, Bedroom 6, Bedroom 4, Bathroom 2
    Bedrooms
    12
    APN
    031h A 00600 000
    Patio and Porch features
    Porch
    Basement
    Crawl Space
    Size
    5,100 SF
    Lot size
    0.27 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1972
    Floors in Building
    2
    Number of units
    6
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Dave Smith
    Dave Smith

    A Team Real Estate Professionals, Inc. (423) 360-3446

    Listing agent Dave Smith (423) 833-1444 License #334591

    Listing date Feb 13, 2026

    MLS# 9991166 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Kingsport Multifamily Investment Opportunity

    This six-unit multifamily property in Kingsport, constructed in 1972, offers an investment opportunity with value-add potential. The building, totaling approximately 5,096 square feet, features a brick exterior and an architectural shingle roof. Each of the six units has an identical layout, including a galley kitchen with rear deck access, a main-level living area, and an upstairs floor plan with two bedrooms and a full hallway bath. HVAC systems, hot water heaters, and kitchen appliances vary in age but are operational. Flooring also varies by unit, with both carpet and LVP present, and is overall in good condition. Bathrooms are functional in all units except one, which requires a full renovation in the tub/shower and is currently non-operational. The property is situated on a 0.27-acre lot. Current rents are $0 for Unit 1 (vacant/non-functional), $300 per month for Unit 2, and $600 per month for Units 3-6, resulting in a total monthly income of $2,700 and an annual income of $32,400. The property is in good overall condition and presents an opportunity for investors to increase value through updates and renovations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Skin Care Clinic Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.518775
    Latitude
    36.574662

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    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property with value-add potential and existing cash flow.
    Where is this apartment building located?
    The property is located at 2008 Bloomingdale Rd Kingsport, TN.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Income-producing 6-unit multifamily property with value-add potential.; - Existing cash flow with a total monthly income of $2,700 and annual income of $32,400.; - Identical unit layouts featuring 2 bedrooms, 1 bath, galley kitchen with rear deck access, and main-level living area.
    (423) 833-1444
    Request Owner's contact information
    2008 Bloomingdale Rd Kingsport, TN 37660
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    Kingsport, TN 37660
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2008 Bloomingdale Rd Kingsport, TN 37660
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    We can help!
    Listing Contact
    Dave Smith
    Dave Smith
    Real Estate License ID: 334591
    (423) 833-1444
    Learn more
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