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    Downtown Kingsport Opportunity Zone Portfolio Kingsport, TN 37660

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    For Sale
    $13,437,000

    Portfolio in a dynamic economic hub with growth potential.

    Property size:
    166,135 SF

    Property Features for Downtown Kingsport Opportunity Zone Portfolio

    General Information

    Size
    166,135 SF

    We can help!

    Listing Contact
    Lauren Morgan
    Source: Naiglobal

    Listing Agent: Lauren Morgan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Kingsport Opportunity Zone Portfolio

    This portfolio is located in Downtown Kingsport, which has seen 641 families from 46 states relocate to the city in the past year, averaging 3 arrivals per workday. Kingsport is East Tennessee's most dynamic economic hub with exceptional growth momentum and market resilience. The area is among the region's tightest markets with a supply-demand imbalance. Kingsport has a rich industrial heritage dating to the early 1900s, anchored by major employers. From its origins as the highest navigable river port on the Holston River in the 1840s to its planned development as a "Model City" in 1917, Kingsport has enduring significance as a commercial center. Downtown Kingsport is poised for growth with existing lifestyle amenities and investment in urban renewal. Many of the properties in this portfolio have open layouts perfect for historic preservation and upscale lofts. The portfolio is an attractive value-add investment within an Opportunity Zone, offering an attractive cap rate, iconic architectural aesthetic and integrity, eye-popping historical exterior details, and is surrounded by free public parking. The property has a size of 166135 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Map

    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.6162
    Latitude
    36.4877

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    FAQs

    What type of property is this?
    Storefront property - Portfolio in a dynamic economic hub with growth potential.
    Where is this storefront property located?
    The property is located at Downtown Kingsport Opportunity Zone Portfolio Kingsport, TN.
    What is the asking price?
    The asking price for this property is $13,437,000.
    What are key features of this property?
    This property features: - Located in East Tennessee's most dynamic economic hub with exceptional growth momentum.; - Value-add investment opportunity within an Opportunity Zone.; - Attractive Cap Rate.
    (865) 315-8463
    Request Owner's contact information
    Downtown Kingsport Opportunity Zone Portfolio Kingsport, TN 37660
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Downtown Kingsport Opportunity Zone Portfolio Kingsport, TN 37660
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    We can help!
    Listing Contact
    Lauren Morgan
    Real Estate License ID: #13164228
    (865) 315-8463
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