Mixed-Use Building with
For Sale
$998,900
227 E Sullivan Street, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size8,600 SF
Lot Size0.10 Acres
Price / SF$116.15
Days on Market224
Property Features for 227 E Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Subdivision
Not In Subdivision
Directions
From Johnson City, take I-26/US-23 N toward Kingsport for about 18-20 miles. Take Exit 7 for E Center St/E Stone Dr. Turn right onto E Center St, left on Broad St, then right onto E Sullivan St. 227 E Sullivan St will be on your right. Approx. 20-25 minutes.
Standard status
Active
APN
046i D 023.00
Size
8,600 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
3495
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1917
Building materials
Brick
Roof type
Rubber
Listing Agency:
eXp Realty, LLC
(888) 519-5113
Listed By:
Matthew McCrory · License #347285
(423) 557-7839
Added: Feb 26
Changed: Oct 2
Last Checked: Oct 8 at 6:06AM
MLS# 9991607
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.
Investment Insights
Based on property information with market context.
Located at 227 E Sullivan Street, this mixed-use property contains 8,600 square feet on a 0.1-acre site. The building includes two commercial storefronts and four residential apartments, creating a combined commercial and residential configuration. Originally built in 1917, it features brick construction and a rubber roof.
The property is positioned near restaurants, retail shops, professional offices, entertainment venues, municipal offices, and the Kingsport Farmers Market. Named nearby destinations include Model City Tap House, Main Street Pizza Company, The Mustard Seed Cafe, Kingsport Carousel & Park, and Kingsport Farmers Market. Public water and public sewer serve the property. Heating includes natural gas and heat pumps, while cooling is provided by heat pumps and ceiling fans.
The property is positioned near restaurants, retail shops, professional offices, entertainment venues, municipal offices, and the Kingsport Farmers Market. Named nearby destinations include Model City Tap House, Main Street Pizza Company, The Mustard Seed Cafe, Kingsport Carousel & Park, and Kingsport Farmers Market. Public water and public sewer serve the property. Heating includes natural gas and heat pumps, while cooling is provided by heat pumps and ceiling fans.
Key Highlights
- 8,600‑square‑foot mixed‑use building on a 0.1‑acre site
- Two commercial storefronts paired with four residential apartments
- B2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,465
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,509,300
$1.5M
Cap Rate 7%
$1,078,071
$1.1M
Cap Rate 9%
$838,500
$838.5K
Market Conditions
NOI Build-Up for 8,600 SF
Gross rent
$134.2K $15.60/SF
− Vacancy
−$13.4K −$1.56/SF
EGI
$120.7K $14.04/SF
− OpEx
−$45.3K −$5.27/SF
NOI
$75.5K $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%
$1,509,300
Cap Rate 7%
$1,078,071
Cap Rate 9%
$838,500
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.21M
NOI $132,875 @ 7.0% cap · market cap 13.30%
Second Best
Mixed Use
$1.08M
$943.3K – $1.26M
NOI $75,465 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,438 @ 7.0% cap · market cap 22.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines commercial storefronts with residential apartments in a B2-zoned business corridor.
Where is this mixed-use property located?
The property is located at 227 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $998,900.
What are key features of this property?
This property features: 8,600‑square‑foot mixed‑use building on a 0.1‑acre site; Two commercial storefronts paired with four residential apartments; B2 zoning
