Kingsport Multifamily Investment
For Sale
$1,149,999
1433 Stratford Road, Kingsport, TN 37664
11-unit, fully renovated multifamily property in Kingsport, Tennessee.
Property Size6,750 SF
Days on Market194
Property Features for 1433 Stratford Road
General Information
Standard status
Active
Size
6,750 SF
Property subtype
Multifamily
Building Details
Building Size
6,750 SF
Year Built
1971
Listing Agency:
SVN | Accel Commercial Real Estate
Listed By:
Brian Truman
(615) 260-2121
Source:
Svn
Added: Feb 26
Changed: Aug 26
Last Checked: Sep 8 at 4:54AM
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 SVN | Accel Commercial Real Estate
Investment Insights
Based on property information with market context.
Magnolia Ridge Apartments, located at 1433 Stratford Road in Kingsport, Tennessee, presents an 11-unit multifamily investment opportunity. The property has been fully renovated, with approximately $250,000+ in capital expenditures completed. The unit mix includes one 3-bedroom/2-bathroom unit, four 1-bedroom/1-bathroom units, and six 2-bedroom/1-bathroom units. The property features separately metered electrical systems. Water and trash services are billed back to tenants. The property offers turnkey operations with minimal near-term capital expenditure needs and the opportunity for future rent growth. It is located in a growing Kingsport market with limited multifamily inventory, offering immediate in-place cash flow with continued upside.
Key Highlights
- Fully renovated 11‑unit multifamily asset with approx. $250k+ in CapEx completed.
- Immediate in‑place cash flow.
- Turnkey operations with minimal near‑term CapEx.
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
$47,152
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
4.10%
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%
$943,040
$943.0K
Cap Rate 7%
$673,600
$673.6K
Cap Rate 9%
$523,911
$523.9K
Market Conditions
NOI Build-Up for 6,750 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
$90.7K $13.44/SF
− Vacancy
−$5.0K −$0.74/SF
EGI
$85.7K $12.70/SF
− OpEx
−$38.6K −$5.72/SF
NOI
$47.2K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$943,040
Cap Rate 7%
$673,600
Cap Rate 9%
$523,911
Alternative Uses
Best Use
Apartment 5plus
$673.6K
$589.4K – $785.9K
NOI $47,152 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,943 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
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?
Apartment building - 11-unit, fully renovated multifamily property in Kingsport, Tennessee.
Where is this apartment building located?
The property is located at 1433 Stratford Road Kingsport, TN.
What is the asking price?
The asking price for this property is $1,149,999.
What are key features of this property?
This property features: Fully renovated 11‑unit multifamily asset with approx. $250k+ in CapEx completed.; Immediate in‑place cash flow.; Turnkey operations with minimal near‑term CapEx.
