Historic 10-Unit Apartment
2000 Netherland Inn Road, Kingsport, TN 37660
For Sale
$1,149,000
Commercial Sale, Kingsport, TN
Property Size10,034 SF
Lot Size0.60 Acres
Price / SF$114.51
Days on Market135
Property Features for 2000 Netherland Inn Road
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
washer/dryer in select apartments
Building Details
Year built
Building materials
Roof type
Listing Agency:
Wallace
(865) 321-1111
Listed By:
Daniel Shew · License TN #0225216304, TN #342411
(276) 274-5271
Added: Jun 29
Changed: Nov 3
Last Checked: Nov 10 at 5:06PM
MLS# 9997509
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1937, this 10,034-square-foot brick apartment property includes 10 residential units: eight two-bedroom apartments and two one-bedroom apartments. Approximately eight units have received extensive renovations, with substantial plumbing replacement completed during the work. New appliances are installed in many apartments, and select units include washers and dryers. Heat pump systems provide heating and cooling, while the property is served by public water and public sewer. The building sits on 0.6 acres and carries PVD zoning.
Located at 2000 Netherland Inn Road in Kingsport, the property overlooks the Holston River and Riverfront Park. Downtown amenities are accessible from the riverfront setting. Tenants are responsible for their own electric and water utilities.
Located at 2000 Netherland Inn Road in Kingsport, the property overlooks the Holston River and Riverfront Park. Downtown amenities are accessible from the riverfront setting. Tenants are responsible for their own electric and water utilities.
Key Highlights
- 10,034‑square‑foot apartment property on 0.6 acres
- 10 residential units: eight 2‑bedroom apartments and two 1‑bedroom apartments
- Approximately eight of the ten units extensively renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,092
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,401,840
$1.4M
Cap Rate 7%
$1,001,314
$1.0M
Cap Rate 9%
$778,800
$778.8K
Market Conditions
NOI Build-Up for 10,034 SF
Gross rent
$134.9K $13.44/SF
− Vacancy
−$7.4K −$0.74/SF
EGI
$127.4K $12.70/SF
− OpEx
−$57.3K −$5.72/SF
NOI
$70.1K $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 Rate 5%
$1,401,840
Cap Rate 7%
$1,001,314
Cap Rate 9%
$778,800
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$876.2K – $1.17M
NOI $70,092 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $263,029 @ 7.0% cap · market cap 22.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
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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
$177,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Kingsport, TN
Properties on Market for Apartment buildings in Kingsport
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated brick apartments overlook the Holston River near Riverfront Park and downtown Kingsport.
Where is this apartment building located?
The property is located at 2000 Netherland Inn Road Kingsport, TN.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 10,034‑square‑foot apartment property on 0.6 acres; 10 residential units: eight 2‑bedroom apartments and two 1‑bedroom apartments; Approximately eight of the ten units extensively renovated
