As-Is Restaurant
For Sale
$189,500
1916 Sherwood Rd, Kingsport, TN 37664
Restaurant building and lot offered together for a new or continued food-service use.
Property Size1,596 SF
Price / SF$118.73
Days on Market48
Property Features for 1916 Sherwood Rd
General Information
Standard status
Active
Size
1,596 SF
Building Details
Year Built
1940
Listing Agency:
Bob Quillen Realtors
Listed By:
Bob Quillen · License #11726
(423) 360-1000
Source:
Thecolinandcarlygroup
Added: Sep 7
Changed: Oct 10
Last Checked: Oct 23 at 12:20PM
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
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Investment Insights
Based on property information with market context.
This conventional restaurant property includes a building and lot offered in their existing condition. The site previously operated as a restaurant, providing a commercial setting associated with food-service use.
Located at 1916 Sherwood Rd in Kingsport, Tennessee, the property was built in 1940. The building and lot are being offered together, with the sale structured on an as-is basis.
Located at 1916 Sherwood Rd in Kingsport, Tennessee, the property was built in 1940. The building and lot are being offered together, with the sale structured on an as-is basis.
Key Highlights
- Conventional restaurant property with building and lot included
- Previously operated as a restaurant
- Offered in as‑is condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,878
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,560
$337.6K
Cap Rate 7%
$241,114
$241.1K
Cap Rate 9%
$187,533
$187.5K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$23.9K $15.00/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$22.5K $14.10/SF
− OpEx
−$5.6K −$3.53/SF
NOI
$16.9K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,560
Cap Rate 7%
$241,114
Cap Rate 9%
$187,533
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.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Ming Garden Chinese Restaurant — 1207 N Eastman Rd, Kingsport, TN 37664
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building and lot offered together for a new or continued food-service use.
Where is this conventional restaurant located?
The property is located at 1916 Sherwood Rd 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: Conventional restaurant property with building and lot included; Previously operated as a restaurant; Offered in as‑is condition
