Turnkey Kitchen & Bar Hospitality Building

215-223 Commerce Street Kingsport, TN 37660

Claim this Listing
For Sale
$2,295,000

Historic downtown building with a turnkey commercial kitchen and bar build-out, plus drive-in capable overhead doors.

Type:Hospitality
Property size:
17,750 SF
Price / SF:
$129/SF
Added:
Jun 25, 2026
Days on Market:
17
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

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


Investment Insights

Based on property information with market context.

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.

Key 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).

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 (±1% cap)
NOI $187,706 @ 7.0% cap · market cap 8.18%
Second Best
Industrial
$1.68M
$1.47M – $1.96M (±1% cap)
NOI $117,565 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$6.65M
$5.82M – $7.75M (±1% cap)
NOI $465,294 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Bars & Pubs

Suggested Use

Auto Parts Store Garden Center Storage Facility Big Box & Wholesale Store Electrical Service Acupuncture (Bike/Boat/Book/etc) Store Carpet & Flooring Store Home Appliance Store Furniture & Home Goods

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

Similar Off Market 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

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).
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