Six-Unit Mixed-Use
For Sale
$429,900
Pending
105 Brookfield Drive, Kingsport, TN 37663
Multi Family, Kingsport, TN
Property Size4,347 SF
Lot Size0.35 Acres
Days on Market48
Property Features for 105 Brookfield Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B 3
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3
Subdivision
Brookfield Place
Elementary school
Miller Perry
Middle school
Sullivan Heights Middle
High school
West Ridge
Directions
From Kingsport or Johnson City, take Hwy 36 into Colonial Heights and turn onto Brookfield Dr. Building almost immediately on right. (Pay attention not to confuse this Brookfield Dr with Brookfield Ln a few streets down.)
Standard status
Pending
APN
107p A 01700 000
Size
4,347 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Annual Amount
1655
Utilities
Sewer type
Septic Tank
Cooling system
Wall Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
6
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
KW Johnson City · Keller Williams Realty
(423) 433-6500
Listed By:
Ryan McKinney · License #322580
(423) 773-1607
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 31 at 3:06AM
MLS# 9998181
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.
105 Brookfield Drive is a fully leased mixed-use property with six occupied units. The lower level includes three one-bedroom residential apartments, while the upper level is home to three fully occupied commercial suites, creating separate spaces for residential income and commercial tenants under one roof.
The commercial component is approximately 1,850 square feet divided into three suites of approximately 400, 600, and 850 square feet. The property is zoned B-3 and sits on a 0.35-acre lot with a total building size of 4,347 square feet. Built in 1970, the building has vinyl siding, a shingle roof, and window and wall unit cooling. Water is provided by public source, and the sewer is a septic tank.
Recent exterior and mechanical updates include replacement windows, siding, and roof approximately five years ago, along with two water heaters approximately six years old. The property currently uses gross leases due to the existing plumbing configuration, where water heaters serving Units 4 and 6 also supply neighboring units. A separately located utility, management, and storage area supports building operations. Convenient parking is available at the rear for residential tenants, with dedicated street-level parking for commercial customers and clients.
The commercial component is approximately 1,850 square feet divided into three suites of approximately 400, 600, and 850 square feet. The property is zoned B-3 and sits on a 0.35-acre lot with a total building size of 4,347 square feet. Built in 1970, the building has vinyl siding, a shingle roof, and window and wall unit cooling. Water is provided by public source, and the sewer is a septic tank.
Recent exterior and mechanical updates include replacement windows, siding, and roof approximately five years ago, along with two water heaters approximately six years old. The property currently uses gross leases due to the existing plumbing configuration, where water heaters serving Units 4 and 6 also supply neighboring units. A separately located utility, management, and storage area supports building operations. Convenient parking is available at the rear for residential tenants, with dedicated street-level parking for commercial customers and clients.
Key Highlights
- Fully leased six‑unit mixed‑use property with three residential apartments and three commercial suites
- Commercial space totals approximately 1,850 SF with three suites at approx. 400, 600, and 850 SF
- Zoned B‑3 on a 0.35‑acre lot with 4,347 SF building size
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
$30,366
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
7.06%
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%
$607,320
$607.3K
Cap Rate 7%
$433,800
$433.8K
Cap Rate 9%
$337,400
$337.4K
Market Conditions
NOI Build-Up for 4,347 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
$58.4K $13.44/SF
− Vacancy
−$3.2K −$0.74/SF
EGI
$55.2K $12.70/SF
− OpEx
−$24.8K −$5.72/SF
NOI
$30.4K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$607,320
Cap Rate 7%
$433,800
Cap Rate 9%
$337,400
Alternative Uses
Best Use
Apartment 5plus
$433.8K
$379.6K – $506.1K
NOI $30,366 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,951 @ 7.0% cap · market cap 26.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 37663, TN
14,392
Population
6,679
Households
2.2
Avg Household Size
47
Median Age
34%
College-Educated
95%
High-School Grad
25.8 sq mi
ZIP Area
558
Density / Sq Mi
$76,122
Median Household Income
$45,399
Median Earnings
$886
Median Rent
$224,900
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Zoned B-3 and fully leased, with three residential apartments and three commercial suites on separate levels.
Where is this apartment building located?
The property is located at 105 Brookfield Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Fully leased six‑unit mixed‑use property with three residential apartments and three commercial suites; Commercial space totals approximately 1,850 SF with three suites at approx. 400, 600, and 850 SF; Zoned B‑3 on a 0.35‑acre lot with 4,347 SF building size
