Flex Space with Garage
For Sale
$547,500
1100 E Center St, Kingsport, TN 37660
B3-zoned commercial building includes office, showroom potential, storage, and recent exterior and interior improvements.
Property Size4,448 SF
Price / SF$123.09
Days on Market26
Property Features for 1100 E Center St
General Information
Standard status
Active
Size
4,448 SF
Listing Agency:
The Addington Agency Bristol
(276) 275-7883
Listed By:
Dominick Abate · License #373146
(276) 275-7883
Source:
Exprealty
Added: Jul 17
Changed: Aug 11
Last Checked: Aug 11 at 8:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Addington Agency Bristol
Investment Insights
Based on property information with market context.
This flex-space property combines three 12-foot garage bays with office areas, showroom potential, and ample storage. The building currently houses a garage door company that has operated at the property for more than 20 years. Recent work includes fresh exterior paint, new windows, a new entry door, and updated flooring. A durable truss roof system and well-maintained condition add to the existing improvements.
Located at 1100 E Center St in Kingsport, the property fronts a busy commercial corridor and provides prominent exposure along E Center Street. B3 zoning supports a range of commercial applications, while the combination of service bays, office space, potential showroom area, and storage accommodates varied operational needs.
Located at 1100 E Center St in Kingsport, the property fronts a busy commercial corridor and provides prominent exposure along E Center Street. B3 zoning supports a range of commercial applications, while the combination of service bays, office space, potential showroom area, and storage accommodates varied operational needs.
Key Highlights
- Three 12‑foot garage bays
- B3 zoning
- Office space, showroom potential, and ample storage
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
$35,774
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
6.53%
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%
$715,480
$715.5K
Cap Rate 7%
$511,057
$511.1K
Cap Rate 9%
$397,489
$397.5K
Market Conditions
NOI Build-Up for 4,448 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
$44.3K $9.96/SF
− Vacancy
−$2.2K −$0.50/SF
EGI
$42.1K $9.46/SF
− OpEx
−$6.3K −$1.42/SF
NOI
$35.8K $8.04/SF
Area
Sullivan County, TN
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$715,480
Cap Rate 7%
$511,057
Cap Rate 9%
$397,489
Alternative Uses
Best Use
Office B
$927.8K
$811.9K – $1.08M
NOI $64,948 @ 7.0% cap · market cap 11.86%
Second Best
Warehouse
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,599 @ 7.0% cap · market cap 21.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- Sweet and Savory Catering — 316 Cumberland St, Kingsport, TN 37660
Frequently Asked Questions
What type of property is this?
Flex space - B3-zoned commercial building includes office, showroom potential, storage, and recent exterior and interior improvements.
Where is this flex space located?
The property is located at 1100 E Center St Kingsport, TN.
What is the asking price?
The asking price for this property is $547,500.
What are key features of this property?
This property features: Three 12‑foot garage bays; B3 zoning; Office space, showroom potential, and ample storage
