Two-Story Brick Live-Work
For Sale
$319,900
809 E Sullivan Street, Kingsport, TN 37660
COMMERCIAL - Kingsport, TN
Property Size3,198 SF
Lot Size0.16 Acres
Price / SF$100.03
Days on Market93
Property Features for 809 E Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B 2E
Subdivision
City Of Kingsport
Directions
From I-26, take exit #4 for TN-93 S, continue straight onto Wilcox Drive, go 2.6 miles, turn left onto E Sullivan Street, property is on your right, see sign.
Standard status
Active
APN
046o H 049.00
Size
3,198 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1097
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
back patio
hot-tub
storage building
privacy fence
in-ground pool
Building Details
Year built
1940
Building materials
Brick
Roof type
Metal
Listing Agency:
REMAX Checkmate, Inc. Realtors · RE/MAX International
(423) 282-0432
Listed By:
Petra Becker · License #298523
(423) 791-9000
Added: May 31
Changed: Aug 4
Last Checked: Aug 31 at 9:06AM
MLS# 9996152
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 two-story brick live-work building was built in 1940 and offers a street-level storefront plus an upstairs apartment. The upstairs unit is approximately 1,508 SF and includes a 2 or 3 bedroom layout with a living room, kitchen with stainless-steel appliances, an updated bathroom with copper sink, barn doors, exposed brick walls, and washer and dryer. Additional exterior and storage amenities include a back patio, hot tub, storage building, privacy fence, and an in-ground pool.
The street-level first floor provides approximately 1,690 SF with a storefront, one bathroom, a large office or conference room in the rear, storage, two offices, and a large reception or retail area. Washer and dryer hook-ups are also available on the street level. Heating is provided by heat pump and electric systems, and cooling is central air. Public water and public sewer are available, and the roof is metal.
The property is situated in downtown Kingsport at 809 E Sullivan Street.
The street-level first floor provides approximately 1,690 SF with a storefront, one bathroom, a large office or conference room in the rear, storage, two offices, and a large reception or retail area. Washer and dryer hook-ups are also available on the street level. Heating is provided by heat pump and electric systems, and cooling is central air. Public water and public sewer are available, and the roof is metal.
The property is situated in downtown Kingsport at 809 E Sullivan Street.
Key Highlights
- 1940 two‑story brick live‑work building with street‑level storefront and upstairs apartment
- Upstairs apartment approx 1,508 SF with 2 or 3 bedrooms, updated bath, stainless‑steel appliances, and washer dryer included
- Street‑level storefront approx 1,690 SF with large reception or retail area, rear office or conference room, and one bathroom
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
$28,062
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
8.77%
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%
$561,240
$561.2K
Cap Rate 7%
$400,886
$400.9K
Cap Rate 9%
$311,800
$311.8K
Market Conditions
NOI Build-Up for 3,198 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
$49.9K $15.60/SF
− Vacancy
−$5.0K −$1.56/SF
EGI
$44.9K $14.04/SF
− OpEx
−$16.8K −$5.27/SF
NOI
$28.1K $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%
$561,240
Cap Rate 7%
$400,886
Cap Rate 9%
$311,800
Alternative Uses
Best Use
Office B
$667.1K
$583.7K – $778.3K
NOI $46,696 @ 7.0% cap · market cap 14.60%
Second Best
Mixed Use
$400.9K
$350.8K – $467.7K
NOI $28,062 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,832 @ 7.0% cap · market cap 26.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,487
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Two-story brick building with street-level storefront plus an upstairs apartment, with public water and sewer.
Where is this live-work space located?
The property is located at 809 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 1940 two‑story brick live‑work building with street‑level storefront and upstairs apartment; Upstairs apartment approx 1,508 SF with 2 or 3 bedrooms, updated bath, stainless‑steel appliances, and washer dryer included; Street‑level storefront approx 1,690 SF with large reception or retail area, rear office or conference room, and one bathroom
