Ground-Floor Office
For Sale
$169,900
1028 E Center Street, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size1,023 SF
Lot Size0.02 Acres
Price / SF$166.08
Days on Market208
Property Features for 1028 E Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B 3
Subdivision
Not In Subdivision
Directions
From US 11W S, Use the left 2 lanes to turn Left onto N Eastman Road, Turn Right onto E Center Street, continue straight to stay on E Center Street. Arrive at 1028 East Center Street on your Right.
Standard status
Active
APN
046o C 02100 000
Size
1,023 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
438
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
newly renovated bathrooms
fresh new flooring
new AC wall unit
new smoke detectors
certified fire extinguisher
outdoor sign
well-lit area
Building Details
Year built
1930
Building materials
Brick
Roof type
Metal
Listing Agency:
A Team Real Estate Professionals
(423) 726-2260
Listed By:
Dave Smith · License #334591
(423) 833-1444
Added: Feb 4
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 9990859
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 1,023-square-foot office unit is located on the ground floor of a brick building constructed in 1930, with no stairs required for access. Recent improvements include new flooring throughout, renovated bathrooms with updated toilets and a vanity, a new window AC unit, smoke detectors, and a certified fire extinguisher. An outdoor sign is also available for the building.
The property is at 1028 E Center Street in Kingsport, Tennessee, within the 37660 postal area. It carries B 3 zoning and is served by public water and public sewer. Baseboard heating, window-unit cooling, and a metal roof are among the existing building features.
The property is at 1028 E Center Street in Kingsport, Tennessee, within the 37660 postal area. It carries B 3 zoning and is served by public water and public sewer. Baseboard heating, window-unit cooling, and a metal roof are among the existing building features.
Key Highlights
- 1,023 SF ground‑floor office unit with no stairs
- Renovated bathrooms with new toilets and vanity
- Fresh flooring installed throughout the space
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
$14,937
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
8.79%
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%
$298,740
$298.7K
Cap Rate 7%
$213,386
$213.4K
Cap Rate 9%
$165,967
$166.0K
Market Conditions
NOI Build-Up for 1,023 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
$25.5K $24.96/SF
− Vacancy
−$5.6K −$5.49/SF
EGI
$19.9K $19.47/SF
− OpEx
−$5.0K −$4.87/SF
NOI
$14.9K $14.60/SF
Area
Sullivan County, TN
Vacancy
22.00%
Lease Rate
$24.96 /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%
$298,740
Cap Rate 7%
$213,386
Cap Rate 9%
$165,967
Alternative Uses
Best Use
Office B
$213.4K
$186.7K – $249.0K
NOI $14,937 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$383.1K
$335.2K – $447.0K
NOI $26,817 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,206
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?
Office units - Updated office space with renovated restrooms, fresh flooring, and direct ground-level access.
Where is this office units located?
The property is located at 1028 E Center Street Kingsport, TN.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,023 SF ground‑floor office unit with no stairs; Renovated bathrooms with new toilets and vanity; Fresh flooring installed throughout the space
