Turnkey Kitchen & Bar Hospitality
215-223 Commerce Street, Kingsport, TN 37660
New
Historic downtown building with a turnkey commercial kitchen and bar build-out, plus drive-in capable overhead doors.
Type:Hospitality
Property size:
17,750 SFPrice / SF:
$129/SF- Added:
- Jun 25, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 27 at 2:04 am
Property Features for 215-223 Commerce Street
General Information
- Standard status
- Active
- Size
- 17,750 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1933
Listing office EXP Commercial (214) 718-7079
Listing date Jun 25, 2026
Source 7s
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
HighLights
- Historic downtown building totaling 17,750 SF across 215 and 223 Commerce (sold together as one building).
- 100% occupied with four active tenants, including short‑term leases for owner‑operator flexibility.
- Turnkey commercial kitchen and bar build‑out in place (Ole Crow Tavern) plus a craft distillery with tasting room (King City Distillery).
- 223 Commerce includes industrial‑size overhead doors in the gym bay, drive‑in capable; B‑2 Central Business District zoning.
- Qualified federal Opportunity Zone with TIF District, PILOT District, and eligibility for Façade Grant, Redevelopment Grant, and Downtown Kingsport Loan Program.
- Flood Zone B/X reported as outside the 100‑year floodplain (buyer to verify); Year built 1933.
Overview
This historic downtown building totals 11,750 SF across two street addresses (215 + 223 Commerce) and is offered as one property under a single transaction. The building is currently 100% occupied by four active tenants. A turnkey commercial kitchen and bar build-out is in place for Ole Crow Tavern, and the property also includes a working craft distillery with a tasting room for King City Distillery.
The 223 Commerce gym bay features industrial-size overhead doors described as drive-in capable, supporting flexible operations for the right tenant. The property is located in a B-2 Central Business District area and is positioned for reuse considerations associated with that zoning classification. It is identified as being in a Qualified Federal Opportunity Zone, and reference is also made to a TIF District and PILOT District, along with a Tennessee Main Street boundary.
For buyers and operators, the combination of existing food-and-beverage build-out, an active distillery/tasting room, and the drive-in capable overhead doors can reduce early-site improvements and support established hospitality or related uses. Additional program eligibility is referenced, including potential façade grant, redevelopment grant, and a Downtown Kingsport loan program. Flood Zone B/X is noted as outside the 100-year floodplain, with the buyer asked to verify.
The 223 Commerce gym bay features industrial-size overhead doors described as drive-in capable, supporting flexible operations for the right tenant. The property is located in a B-2 Central Business District area and is positioned for reuse considerations associated with that zoning classification. It is identified as being in a Qualified Federal Opportunity Zone, and reference is also made to a TIF District and PILOT District, along with a Tennessee Main Street boundary.
For buyers and operators, the combination of existing food-and-beverage build-out, an active distillery/tasting room, and the drive-in capable overhead doors can reduce early-site improvements and support established hospitality or related uses. Additional program eligibility is referenced, including potential façade grant, redevelopment grant, and a Downtown Kingsport loan program. Flood Zone B/X is noted as outside the 100-year floodplain, with the buyer asked to verify.
Local 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 | $266.3k | $15.00 |
| − Vacancy | −$16.0k | −$0.90 |
| EGI | $250.3k | $14.10 |
| − OpEx | −$62.6k | −$3.53 |
| NOI | $187.7k | $10.58 |
17,750 SF · lease $15.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,706 @ 7.0% cap · market cap 8.18%
Second Best
Industrial
$1.68M
$1.47M – $1.96M
NOI $117,565 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$6.65M
$5.82M – $7.75M
NOI $465,294 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Places Nearby
- The Sports Mill — 600 E Market St, Kingsport, TN 37660
- Perfect Pour — 117 Broad St, Kingsport, TN 37660
- Inspire Wine Bar — 116 Commerce St Suite 101, Kingsport, TN 37660
- bar — 118 E Market St, Kingsport, TN 37660
- High Voltage — 101 Cherokee St #30, Kingsport, TN 37660
Location Insight
- Map
- Local Demand
- City
- Kingsport
- County
- Sullivan
- State
- Tennessee
- Longitude
- -82.559005
- Latitude
- 36.546231
Nearby Similar for Sale
FAQs
What type of property is this?
Bar & Pub - Historic downtown building with a turnkey commercial kitchen and bar build-out, plus drive-in capable overhead doors.
Where is this bar & pub located?
The property is located at 215-223 Commerce Street Kingsport, TN.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Historic downtown building totaling 17,750 SF across 215 and 223 Commerce (sold together as one building).; 100% occupied with four active tenants, including short‑term leases for owner‑operator flexibility.; Turnkey commercial kitchen and bar build‑out in place (Ole Crow Tavern) plus a craft distillery with tasting room (King City Distillery).
