4-Unit
1157 Ridgecrest Ave, Kingsport, TN 37665
For Sale
$800,000
All four residences are currently leased, with commercial zoning and established rental history.
Property Size5,760 SF
Price / SF$138.89
Days on Market32
Property Features for 1157 Ridgecrest Ave
General Information
Standard status
Size
Property subtype
Zoning
Financials
Gross Income
Average Monthly Rent
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Red Realty, LLC
(615) 896-2733
Listed By:
Martha Durham · License TN #387853
(615) 801-5563
Source:
Concordrealty
Added: Oct 9
Changed: Nov 7
Last Checked: Nov 8 at 5:17PM
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 Red Realty, LLC
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Investment Insights
Based on property information with market context.
This 4-unit quadplex in Kingsport, Tennessee, was built in 1969 and measures 5,760 square feet. All four units are currently rented, and the property has a commercial zoning designation.
The roof is approximately 8 years old. HVAC systems are of varying ages, with most under 5 years old.
The roof is approximately 8 years old. HVAC systems are of varying ages, with most under 5 years old.
Key Highlights
- Four units, all currently rented
- 5,760 square feet; built in 1969
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,977
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,540
$859.5K
Cap Rate 7%
$613,957
$614.0K
Cap Rate 9%
$477,522
$477.5K
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$65.7K $11.40/SF
− Vacancy
−$4.3K −$0.74/SF
EGI
$61.4K $10.66/SF
− OpEx
−$18.4K −$3.20/SF
NOI
$43.0K $7.46/SF
Area
Sullivan County, TN
Vacancy
6.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,540
Cap Rate 7%
$613,957
Cap Rate 9%
$477,522
Alternative Uses
Best Use
Multifamily LT 5
$614.0K
$537.2K – $716.3K
NOI $42,977 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $150,991 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 37665, TN
5,204
Population
2,397
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
3.0 sq mi
ZIP Area
1,735
Density / Sq Mi
$46,565
Median Household Income
$30,167
Median Earnings
$937
Median Rent
$110,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are currently leased, with commercial zoning and established rental history.
Where is this quadplex located?
The property is located at 1157 Ridgecrest Ave Kingsport, TN.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four units, all currently rented; 5,760 square feet; built in 1969; Commercial zoning
