Mixed-Use Income Property with
227 E Sullivan Street Kingsport, TN 37660
For Sale
$1,050,000
COMMERCIAL - Kingsport, TN
Property Size8,600 SF
Lot Size0.10 Acres
Price / SF$122.09
Days on Market154
Property Features for 227 E Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Standard status
Active
APN
046i D 023.00
Size
8,600 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
3495
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Ceiling Fan(s), Heat Pump
Water source
Public
Building Details
Year built
1917
Building materials
Brick
Roof type
Rubber
Listing Agency:
eXp Realty, LLC
(888) 519-5113
Listed By:
Matthew McCrory · License #347285
(423) 557-7839
Added: Feb 26
Changed: Jul 1
Last Checked: Jul 30 at 9:06AM
MLS# 9991607
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 income property combines two commercial storefronts with four residential apartments, creating diversified cash flow in a single, established building. The configuration supports both street-facing retail presence and long-term residential occupancy, offering an operator the flexibility to manage multiple revenue streams under one roof.
The property is located along E Sullivan Street in Kingsport, Tennessee, with nearby activity from established restaurants, retail shops, professional offices, and entertainment venues. Public remarks cite proximity to Model City Tap House, Main Street Pizza Company, The Mustard Seed Cafe, Kingsport Carousel & Park, and the Kingsport Farmers Market, contributing to a steady level of daytime and community traffic. The surrounding mix also includes local boutiques, service businesses, financial institutions, and municipal offices, reinforcing the property’s visibility within the business corridor.
For investors or buyers seeking a value-add opportunity, this asset provides a diversified foundation with commercial and residential components. The presence of both storefront and apartment space may appeal to tenants and operators looking for an income-producing setup in a well-established area. Buyer’s agent and buyer should verify all information, as details are deemed reliable but not guaranteed.
The property is located along E Sullivan Street in Kingsport, Tennessee, with nearby activity from established restaurants, retail shops, professional offices, and entertainment venues. Public remarks cite proximity to Model City Tap House, Main Street Pizza Company, The Mustard Seed Cafe, Kingsport Carousel & Park, and the Kingsport Farmers Market, contributing to a steady level of daytime and community traffic. The surrounding mix also includes local boutiques, service businesses, financial institutions, and municipal offices, reinforcing the property’s visibility within the business corridor.
For investors or buyers seeking a value-add opportunity, this asset provides a diversified foundation with commercial and residential components. The presence of both storefront and apartment space may appeal to tenants and operators looking for an income-producing setup in a well-established area. Buyer’s agent and buyer should verify all information, as details are deemed reliable but not guaranteed.
Key Highlights
- Mixed‑use building with 2 commercial storefronts and 4 residential apartments
- Built in 1917 with brick construction
- Public water and public sewer service
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.2k | $15.60 |
| − Vacancy | −$13.4k | −$1.56 |
| EGI | $120.7k | $14.04 |
| − OpEx | −$45.3k | −$5.27 |
| NOI | $75.5k | $8.77 |
8,600 SF · lease $15.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.21M
NOI $132,875 @ 7.0% cap · market cap 12.65%
Second Best
Mixed Use
$1.08M
$943.3K – $1.26M
NOI $75,465 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,438 @ 7.0% cap · market cap 21.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Two commercial storefronts and four apartments offer diversified income in a B2 business corridor with strong visibility.
Where is this quadplex located?
The property is located at 227 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Mixed‑use building with 2 commercial storefronts and 4 residential apartments; Built in 1917 with brick construction; Public water and public sewer service
