4-Unit Two-Story
For Sale
Contact for pricing
133 E Ravine, Kingsport, TN 37660
Fully leased property near Holston Valley Medical Center with covered rear parking.
Property Size3,362 SF
Price / SF$133.85
Days on Market147
Property Features for 133 E Ravine
General Information
Standard status
Active
Size
3,362 SF
Property subtype
Multifamily
Building Details
Year Built
1963
Buildings
2
Stories
2
Units
4
Listing Agency:
TCI Group – Jerry Petzoldt Agency LLC
Listed By:
R. Lynn Shipley, Jr. · License #TN 347057
Source:
Crexi
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 30 at 11:34PM
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 TCI Group – Jerry Petzoldt Agency LLC
Investment Insights
Based on property information with market context.
Located at 133 E Ravine in Kingsport, this 1963 quadplex contains four residential units within a two-story, 3,362-square-foot building. The layout includes two apartments on each level, with every unit configured as a two-bedroom, one-bath residence. A covered parking area is positioned behind the building.
The property sits in an established neighborhood bordering the medical district and near Holston Valley Medical Center. All four units are currently leased, providing an occupied multifamily asset with a consistent configuration across the building.
The property sits in an established neighborhood bordering the medical district and near Holston Valley Medical Center. All four units are currently leased, providing an occupied multifamily asset with a consistent configuration across the building.
Key Highlights
- Four‑unit quadplex with 3,362 square feet
- Built in 1963
- Each apartment offers 2 BR and 1 BA
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
$25,085
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
5.57%
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%
$501,700
$501.7K
Cap Rate 7%
$358,357
$358.4K
Cap Rate 9%
$278,722
$278.7K
Market Conditions
NOI Build-Up for 3,362 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
$38.3K $11.40/SF
− Vacancy
−$2.5K −$0.74/SF
EGI
$35.8K $10.66/SF
− OpEx
−$10.8K −$3.20/SF
NOI
$25.1K $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 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%
$501,700
Cap Rate 7%
$358,357
Cap Rate 9%
$278,722
Alternative Uses
Best Use
Multifamily LT 5
$358.4K
$313.6K – $418.1K
NOI $25,085 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$335.5K
$293.6K – $391.4K
NOI $23,485 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,131 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,197
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased property near Holston Valley Medical Center with covered rear parking.
Where is this quadplex located?
The property is located at 133 E Ravine Kingsport, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,362 square feet; Built in 1963; Each apartment offers 2 BR and 1 BA
