Riverside Hospitality and Flex
For Sale
Contact for pricing
1833-1837 NETHERLAND INN RD, Kingsport, TN 37660
Two buildings on Kingsport's Holston River corridor.
Property Size8,129 SF
Price / SF$98.29
Days on Market98
Property Features for 1833-1837 NETHERLAND INN RD
General Information
Standard status
Active
Size
8,129 SF
Total Parking Spaces
50
Property subtype
Retail, Industrial, Hospitality
Zoning
B-2 PVD
Occupancy
30%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1930
Buildings
2
Units
1
Tenancy
Multi
Listing Agency:
EXP Commercial
(214) 718-7079
Listed By:
Carson Jones · License #382989
Source:
Crexi
Added: May 17
Changed: Aug 8
Last Checked: Jun 26 at 12:00PM
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 EXP Commercial
Investment Insights
Based on property information with market context.
This property features two buildings on Kingsport's historic Holston River corridor, a connector between Downtown Kingsport and the Long Island of the Holston. The primary building is a move-in-ready restaurant and hospitality space positioned to capture Greenbelt, river-recreation, and heritage-tourism traffic. The second building is suited to secondary uses, such as a riverside bar, entertainment venue, light industrial space, showroom, warehouse, or service-trade headquarters. The property's frontage on the Holston River offers access to trout-fishing waters. The restaurant and hospitality building is positioned on the Netherland Inn Road and Holston River corridor, capturing Greenbelt foot traffic, paddle and river-recreation visitors, heritage-tourism flow tied to the Netherland Inn, and commuter and event traffic between Downtown Kingsport and the western residential districts. The elevated floors and above-floodplain positioning support full ground-floor hospitality use. The flexible second building supports a range of complementary uses, including a riverside bar, taproom, or beer garden, an entertainment or live-music venue, light industrial space for production, fabrication, or assembly, a showroom for home goods, outdoor recreation, power sports, or specialty trade display, warehouse space for inventory, equipment, or vehicle storage, or headquarters for a service-based business with showroom, office, and yard or storage. The property totals 8129 square feet. It is located six minutes from Downtown.
Key Highlights
- Rare two‑building property with Holston River frontage, offering two potential income streams.
- Move‑in‑ready restaurant/hospitality building positioned to capture Greenbelt, river‑recreation, and heritage‑tourism traffic.
- Second flex building suitable for a riverside bar, entertainment venue, light industrial, showroom, warehouse, or service‑trade headquarters.
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
$58,968
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
7.38%
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%
$1,179,360
$1.2M
Cap Rate 7%
$842,400
$842.4K
Cap Rate 9%
$655,200
$655.2K
Market Conditions
NOI Build-Up for 8,129 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
$97.5K $12.00/SF
− Vacancy
−$6.8K −$0.84/SF
EGI
$90.7K $11.16/SF
− OpEx
−$31.8K −$3.91/SF
NOI
$59.0K $7.25/SF
Area
Sullivan County, TN
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,179,360
Cap Rate 7%
$842,400
Cap Rate 9%
$655,200
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.07M – $1.43M
NOI $85,964 @ 7.0% cap · market cap 10.76%
Second Best
Flex RnD
$842.4K
$737.1K – $982.8K
NOI $58,968 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $213,092 @ 7.0% cap · market cap 26.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two buildings on Kingsport's Holston River corridor.
Where is this conventional restaurant located?
The property is located at 1833-1837 NETHERLAND INN RD Kingsport, TN.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Rare two‑building property with Holston River frontage, offering two potential income streams.; Move‑in‑ready restaurant/hospitality building positioned to capture Greenbelt, river‑recreation, and heritage‑tourism traffic.; Second flex building suitable for a riverside bar, entertainment venue, light industrial, showroom, warehouse, or service‑trade headquarters.
