Mixed-Use Property with
For Sale
$550,000
3209 Memorial Boulevard, Kingsport, TN 37664
Commercial Sale, Kingsport, TN
Property Size3,996 SF
Lot Size1.34 Acres
Price / SF$137.64
Days on Market162
Property Features for 3209 Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3
Subdivision
Green Acres
Directions
From downtown Kingsport, take East Center Street toward Memorial Blvd. Turn right onto Memorial Boulevard. Property is located at the corner of Memorial Blvd and Clover Street. See sign.
Standard status
Active
APN
062h H 00100 001
Size
3,996 SF
Lot size
1.34 Acres
Taxes and HOA fees
Tax Annual Amount
994
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Building materials
Brick
Listing Agency:
Selling Stateline Real Estate Group
(423) 343-9026
Listed By:
Brittany Reed · License #330034
(423) 773-9374
Added: Apr 13
Changed: Sep 7
Last Checked: Sep 21 at 1:06AM
MLS# 9993799
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 package combines an 8-unit motel, a separate office building, an approximately 2,706-square-foot historic home, and two additional lots. The brick home, built in 1950, includes 3 bedrooms and 2 bathrooms, with potential for residential or commercial use subject to applicable zoning. The motel requires renovation and may support continued lodging use or other permitted uses. The office building provides space for multiple office suites or business operations.
The property encompasses 1.34 acres at 3209 Memorial Boulevard in Kingsport, with Memorial Boulevard frontage and access to public water and public sewer. The package includes parcels 062H H 001.00, 062H H 010.00, and 062H H 011.00, including Clover Street Lots 14 and 15. Total reported property size is 3,996 square feet.
The property encompasses 1.34 acres at 3209 Memorial Boulevard in Kingsport, with Memorial Boulevard frontage and access to public water and public sewer. The package includes parcels 062H H 001.00, 062H H 010.00, and 062H H 011.00, including Clover Street Lots 14 and 15. Total reported property size is 3,996 square feet.
Key Highlights
- 8‑unit motel included in the property package
- Approximately 2,706 square feet historic home with 3 bedrooms and 2 bathrooms
- Separate office building with potential for multiple office suites
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
$35,065
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
6.38%
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%
$701,300
$701.3K
Cap Rate 7%
$500,929
$500.9K
Cap Rate 9%
$389,611
$389.6K
Market Conditions
NOI Build-Up for 3,996 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
$62.3K $15.60/SF
− Vacancy
−$6.2K −$1.56/SF
EGI
$56.1K $14.04/SF
− OpEx
−$21.0K −$5.27/SF
NOI
$35.1K $8.77/SF
Area
Sullivan County, TN
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$701,300
Cap Rate 7%
$500,929
Cap Rate 9%
$389,611
Alternative Uses
Best Use
Office B
$833.5K
$729.4K – $972.5K
NOI $58,348 @ 7.0% cap · market cap 10.61%
Second Best
Mixed Use
$500.9K
$438.3K – $584.4K
NOI $35,065 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,750 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-building commercial package with lodging, office, residential, and additional lot components along Memorial Boulevard.
Where is this mixed-use property located?
The property is located at 3209 Memorial Boulevard Kingsport, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 8‑unit motel included in the property package; Approximately 2,706 square feet historic home with 3 bedrooms and 2 bathrooms; Separate office building with potential for multiple office suites
