Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1920 Bowater Dr Kingsport, TN 37660

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    197-unit multifamily portfolio in Bristol and Kingsport, Tennessee.

    Type:Multifamily
    Added:
    Mar 6, 2026
    Days on Market:
    26
    Last Refresh:
    Mar 26 at 12:43 am

    Property Features for 1920 Bowater Dr

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1971

    We can help!

    Listing Contact
    Jon Roosen
    Jon Roosen

    Listing agent Jon Roosen License #366234

    Listing office SVN | Wood Properties

    Listing date Mar 6, 2026

    Source Svnwood

    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 | Wood Properties

    Overview

    Multifamily Portfolio in Tri-Cities Region

    This offering presents the opportunity to acquire Bristol Square and Bridgewater Retreat, a 197-unit multifamily portfolio. The properties are located in Bristol and Kingsport, Tennessee, within the Tri-Cities region of Northeast Tennessee, an area with nearly 600,000 residents. The local economy is supported by Ballad Health, Eastman Chemical Company, East Tennessee State University, KVAT Food Stores, and VA Mountain Home Healthcare. The Tri-Cities region is a hub for tourism and entertainment, anchored by Bristol Motor Speedway, the Tri-Cities Airport, and the Hard Rock Hotel & Casino Bristol. Bridgewater Retreat, built in 1971, consists of 100 units at 1920 Bowater Dr, Kingsport, TN 37660, including 40 one-bedroom/one-bathroom units (average rent $930), 50 two-bedroom/one-bathroom units (average rent $1,020), and 10 three-bedroom/one-bathroom units (average rent $1,144). Bristol Square Apartments, built in 1969, features 97 units at 104 Stafford St, Bristol, TN 37630, including 8 one-bedroom/one-bathroom units (average rent $975), 73 two-bedroom/one-bathroom units (average rent $1,054), and 16 three-bedroom/one-bathroom units (average rent $1,156). The Hard Rock, located across State Street from Bristol Square, includes 303 hotel rooms, over 1,500 slots, 75 table games, dining venues, and a 2,000-seat entertainment space.
    Location Intelligence

    Current Use by Public Records

    Kingsport Manor Apartments Apartment Building Bridgewater Retreat Apartments Apartment Complex ATM (Sunshine Mart) Atm Speedway Inn Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Gym & Fitness Center Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.5208
    Latitude
    36.5513

    Nearby Similar for Sale

    • $995,000
      4,000 SF

      Versatile Commercial Building in Kingsport

      4,000 sqft commercial building on almost an acre.
      3930 E Stone Drive, Kingsport, TN 37660
      View Details
    • $419,000
      4,121 SF

      Kingsport Retail/Commercial Opportunity For Sale

      Versatile commercial space with high visibility and flexible owner financing.
      3504 Fort Henry Drive, Kingsport, TN 37664
      View Details
    • $1,750,000
      8,000 SF

      Versatile Kingsport Industrial Property

      Industrial property with two buildings totaling 8,000 square feet.
      401 Tilthammer Drive, Kingsport, TN 37663
      View Details
    • $2,790,000
      4,498 SF

      New Construction Industrial Warehouse/Office Facility

      New construction industrial warehouse and office facility on 10 acres.
      2640 Stone W Drive, Kingsport, TN 37660
      View Details
    • $575,000
      3,393 SF

      Kingsport Medical Office Space Available

      First-floor medical office space in a prime Kingsport location.
      444 Clinchfield Street unit: 102, Kingsport, TN 37660
      View Details
    • $450,000
      4,430 SF

      Versatile Commercial Property in Kingsport

      Mixed-use property with income potential in downtown Kingsport.
      427 & 431 E Sullivan Street, Kingsport, TN 37660
      View Details
    • $599,000
      7,912 SF

      Kingsport Commercial Property For Sale

      Retail and industrial property near Walmart and Fort Henry Mall.
      2303 Fort Henry Dr, Kingsport, TN 37664
      View Details
    • $1,265,000
      8,760 SF

      High Visibility Kingsport Commercial Property

      Mixed-use investment or owner-operator opportunity in a busy business district.
      733 W Stone Drive, Kingsport, TN 37660
      View Details
    • $239,000
      4,582 SF

      Downtown Kingsport Commercial Space

      Cleared commercial space in downtown Kingsport, ready for new business.
      104 W Main Street, Kingsport, TN 37660
      View Details
    • $949,900
      800 SF

      Versatile Commercial Property in Kingsport

      5,600+/- SF commercial property with fenced lot in high-traffic area.
      475 Morelock Street, Kingsport, TN 37660
      View Details
    • $439,900
      4,160 SF

      Kingsport Church with Ample Parking

      Church building with sanctuary, classrooms, office, and baptism pool.
      2225 Ashwood Avenue, Kingsport, TN 37664
      View Details
    • $749,900
      24,930 SF

      Kingsport Office Building For Sale

      Four-story office building with value-add potential in a prime location.
      1989 E Stone Drive, Kingsport, TN 37660
      View Details

    FAQs

    What type of property is this?
    Apartment building - 197-unit multifamily portfolio in Bristol and Kingsport, Tennessee.
    Where is this apartment building located?
    The property is located at 1920 Bowater Dr Kingsport, TN.
    What are key features of this property?
    This property features: 197‑unit multifamily portfolio in Bristol and Kingsport, Tennessee.; Strategically located in the Tri‑Cities region with a resilient economy.; Close proximity to the Hard Rock Hotel & Casino Bristol.
    (865) 202-6767
    We can help!
    Listing Contact
    Jon Roosen
    Jon Roosen
    Real Estate License ID: 366234
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!