Former Restaurant Retail
1916 Sherwood Road Kingsport, TN 37664
For Sale
$189,500
Retail property in Kingsport, Tennessee, formerly a restaurant.
Property Size1,596 SF
Lot Size0.18 Acres
Price / SF$118.73
Days on Market604
Property Features for 1916 Sherwood Road
General Information
Standard status
Active
Size
1,596 SF
Lot size
0.18 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1940
Listing Agency:
Bob Quillen Realtors
(423) 360-1000
Listed By:
Bob Quillen · License #11726
(423) 360-1000
Source:
Exitrealty
Added: Dec 2, 2024
Changed: Jul 6
Last Checked: Jul 28 at 7:36AM
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 Bob Quillen Realtors
Investment Insights
Based on property information with market context.
This 1596-square-foot property, formerly a restaurant, is available for sale in Kingsport, Tennessee. The property is being sold in its current condition and presents a retail opportunity in a favorable location. It is suitable for storefront, retail, restaurant, and other commercial real estate purposes.
Key Highlights
- Great location
- Former restaurant location (Nicks Restaurant)
- Retail spot
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.9k | $15.00 |
| − Vacancy | −$1.4k | −$0.90 |
| EGI | $22.5k | $14.10 |
| − OpEx | −$5.6k | −$3.53 |
| NOI | $16.9k | $10.58 |
1,596 SF · lease $15.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Retail
$352.3K
$308.2K – $411.0K
NOI $24,659 @ 7.0% cap · market cap 13.01%
Second Best
Specialty Retail
$241.1K
$211.0K – $281.3K
NOI $16,878 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$597.7K
$523.0K – $697.3K
NOI $41,837 @ 7.0% cap · market cap 22.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Retail property in Kingsport, Tennessee, formerly a restaurant.
Where is this storefront property located?
The property is located at 1916 Sherwood Road Kingsport, TN.
What is the asking price?
The asking price for this property is $189,500.
What are key features of this property?
This property features: Great location; Former restaurant location (Nicks Restaurant); Retail spot
