Fully Leased Historic Retail
For Sale
$619,000
217 Broad St., Kingsport, TN 37660
Street-level retail on the first floor is fully occupied by six tenants in a renovated 1920 structure.
Property Size4,621 SF
Price / SF$133.95
Days on Market92
Property Features for 217 Broad St.
General Information
Standard status
Active
Size
4,621 SF
Class
B
Property subtype
Retail - Street Retail
Occupancy
100%
Building Details
Building Size
4,621 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
eXp Commercial
Listed By:
Carson Lee Jones · License #382989
(214) 718-7079
Source:
Commercialcafe
Added: Jul 10
Changed: Sep 29
Last Checked: Oct 9 at 4:39PM
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.
Situated at 217 Broad St. in the historic core of Downtown Kingsport, this renovated 1920 building offers stabilized, fully leased commercial space with street-level retail on the first floor. Approximately 4,621 square feet of storefront space is 100% occupied by six established tenants, supported by a tenant mix that spans retail, personal service, wellness, and e-commerce.
The second and third floors are occupied by high-end residential lofts above the storefronts, providing a mixed-use configuration within the revitalized Broad Street corridor.
With the property fully occupied and income-producing from the first month of ownership, it is structured as a low-friction acquisition for investors, including those considering a 1031 exchange replacement. Rent roll and full financials are available upon execution of a confidentiality agreement (NDA). Buyers should consult their qualified intermediary and tax advisor regarding 1031 requirements.
The second and third floors are occupied by high-end residential lofts above the storefronts, providing a mixed-use configuration within the revitalized Broad Street corridor.
With the property fully occupied and income-producing from the first month of ownership, it is structured as a low-friction acquisition for investors, including those considering a 1031 exchange replacement. Rent roll and full financials are available upon execution of a confidentiality agreement (NDA). Buyers should consult their qualified intermediary and tax advisor regarding 1031 requirements.
Key Highlights
- First‑floor street‑level commercial space totals ±4,621 SF and is fully occupied by six established tenants.
- Renovated 1920 building with stabilized, fully leased income‑producing street‑level retail.
- Second and third floors are occupied by residential lofts above the storefronts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,549
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,980
$811.0K
Cap Rate 7%
$579,271
$579.3K
Cap Rate 9%
$450,544
$450.5K
Market Conditions
NOI Build-Up for 4,621 SF
Gross rent
$72.1K $15.60/SF
− Vacancy
−$7.2K −$1.56/SF
EGI
$64.9K $14.04/SF
− OpEx
−$24.3K −$5.27/SF
NOI
$40.5K $8.77/SF
Area
Sullivan County, TN
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,980
Cap Rate 7%
$579,271
Cap Rate 9%
$450,544
Alternative Uses
Best Use
Retail
$1.02M
$892.5K – $1.19M
NOI $71,397 @ 7.0% cap · market cap 11.53%
Second Best
Mixed Use
$579.3K
$506.9K – $675.8K
NOI $40,549 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,134 @ 7.0% cap · market cap 19.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Food City Florists — 300 Clinchfield St, Kingsport, TN 37660
- Holston Florist Shop Inc — 1006 Gibson Mill Rd, Kingsport, TN 37660
Frequently Asked Questions
What type of property is this?
Storefront property - Street-level retail on the first floor is fully occupied by six tenants in a renovated 1920 structure.
Where is this storefront property located?
The property is located at 217 Broad St. Kingsport, TN.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: First‑floor street‑level commercial space totals ±4,621 SF and is fully occupied by six established tenants.; Renovated 1920 building with stabilized, fully leased income‑producing street‑level retail.; Second and third floors are occupied by residential lofts above the storefronts.
