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    809 E Sullivan St Kingsport, TN 37660

    Sponsored
    For Sale
    $319,900

    COMMERCIAL - Kingsport, TN

    Property size:
    3,198 SF
    Lot size:
    0.16 Acres
    Days on Market:
    157
    Last Refresh:
    Jan 29 at 2:06 am

    Property Features for 809 E Sullivan St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    046o H 049.00
    Size
    3,198 SF
    Lot size
    0.16 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Heat Pump, Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Petra Becker
    Petra Becker

    RE/MAX Checkmate Realtors Inc. (423) 282-0432

    Listing agent Petra Becker (423) 791-9000 License #298523

    Listing date Aug 26, 2025

    MLS# 9979223

    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.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Building in Downtown Kingsport

    This two-story mixed-use building, constructed in the 1940s, is located in Downtown Kingsport and features 50 feet of road frontage on East Sullivan. The updated and maintained brick building offers street-grade retail, service, or office possibilities on the first level, which measures 1690 square feet and includes one bathroom, a large office or conference room in the rear, storage, two offices, a large reception or retail area, and washer-dryer hookups. The second level comprises an approximately 1508-square-foot apartment with two or three bedrooms, a living area, exposed brick walls, a walk-in closet, one full bathroom, appliances, a copper sink, barn doors at the washer-dryer, a large exterior patio, a yard, and a pool, all enclosed by privacy fencing. Signage is allowed on the building, which benefits from high visibility and high traffic counts near downtown Kingsport. The 0.16-acre site can be rented out, used by an owner-operator, or solely for passive income. The versatility of these units makes it suitable for various investment strategies. The property's gross rents are $30,000 per year, with a cap rate of 7.95%.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brents Rental Property Property Management Company Kla Construction And Maintenance Contractor

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.553008
    Latitude
    36.541938

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story mixed-use building with retail and residential units.
    Where is this mixed-use property located?
    The property is located at 809 E Sullivan St Kingsport, TN.
    What is the asking price?
    The asking price for this property is $319,900.
    What are key features of this property?
    This property features: - High visibility location in Downtown Kingsport with 50 feet of road frontage and high traffic counts.; - Mixed-use building offering versatile income potential with retail/office space on the first floor and a residential apartment on the second floor.; - Updated and well-maintained 1940s brick building with a 7.95% cap rate and $30,000 gross rents/year.
    (423) 791-9000
    Request Owner's contact information
    809 E Sullivan St Kingsport, TN 37660
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    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
    809 E Sullivan St Kingsport, TN 37660
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    We can help!
    Listing Contact
    Petra Becker
    Petra Becker
    Real Estate License ID: 298523
    (423) 791-9000
    Learn more
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