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    2020 Center St Kingsport, TN 37664

    For Sale
    $449,900

    High-Yield Multi-Unit Property in Kingsport

    Property size:
    8,800 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 8,800 square foot commercial property at 2020 E Center Street, Kingsport, TN, presents a remarkable investment opportunity. Situated on a 0.09-acre lot, this historic building, formerly known as the Palmer Building, boasts a rich history and a proven track record as a highly successful apartment complex. Currently operating at 100% occupancy nearly year-round, the property generates a substantial $6,700 in monthly rental income ($80,400 annually). The eleven units comprise one two-bedroom, one-bathroom unit and ten one-bedroom, one-bathroom units, totaling twelve bedrooms and eleven bathrooms. All units are currently occupied. Its prime location offers unparalleled convenience, within walking distance of Dobyns-Bennett High School and minutes from the amenities of East Stone Drive. The versatile space is ideal for a variety of uses, including office spaces, restaurants, or other commercial ventures. The property benefits from the owner paying all utilities, and there are no HOA or CAM fees. Detailed rent rolls and expense reports are available upon request. This turnkey investment offers excellent cash flow with significant potential for increased returns through future improvements. Don't miss this chance to acquire a high-performing asset in a desirable Kingsport location. The asking price is $449,900.

    Property Features for 2020 Center St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    8,800 SF
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1920
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.52386
    Latitude
    36.53752

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    FAQs

    What type of property is this?
    Commercial real estate - High-Yield Multi-Unit Property in Kingsport
    Where is this commercial real estate located?
    The property is located at 2020 Center St Kingsport, TN.
    What is the asking price?
    The asking price for this property is $449,900.
    (423) 973-8634
    Request Owner's contact information
    2020 Center St Kingsport, TN 37664
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    Kingsport, TN 37664
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    Realmo Value Estimation

    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.

    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.

    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
    2020 Center St Kingsport, TN 37664
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