Historic Bank Building Adaptive
For Sale
$2,499,000
255 Broad St, Kingsport, TN 37660
Three-story historic landmark with cellar, rooftop deck, and intact bank vault in Kingsport’s B-2 Central Business District.
Property Size27,200 SF
Price / SF$95.75
Days on Market92
Property Features for 255 Broad St
General Information
Standard status
Active
Size
27,200 SF
Class
B
Property subtype
Other
Zoning
B-2
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
27,200 SF
Year Built
1927
Stories
3
Units
121
Listing Agency:
eXp Commercial
Listed By:
Carson Lee Jones · License #382989
(214) 718-7079
Source:
Commercialcafe
Added: Jul 11
Changed: Oct 9
Last Checked: Oct 9 at 4:27PM
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.
Originally constructed in 1927 as the First National Bank of Kingsport, this iconic historic landmark totals 26,100± SF across three stories plus a historic cellar. The building features an expansive rooftop deck, an elegant marble and limestone facade, exposed brick interiors, soaring ceilings, original architectural details, an intact bank vault, and a passenger elevator.
Located within Kingsport’s B-2 Central Business District and designated as an Opportunity Zone site, the property supports a wide range of permitted and conditional uses intended to encourage downtown redevelopment. The offering is situated along Broad Street with visibility and walk-ability, just steps from City Hall, restaurants, retail, entertainment, downtown employers, public parking, and ongoing public and private investment.
The redevelopment concept can be tailored to a range of hospitality, residential, office, entertainment, or retail formats, including the potential to assemble with neighboring downtown buildings under common ownership for a larger, coordinated destination.
Located within Kingsport’s B-2 Central Business District and designated as an Opportunity Zone site, the property supports a wide range of permitted and conditional uses intended to encourage downtown redevelopment. The offering is situated along Broad Street with visibility and walk-ability, just steps from City Hall, restaurants, retail, entertainment, downtown employers, public parking, and ongoing public and private investment.
The redevelopment concept can be tailored to a range of hospitality, residential, office, entertainment, or retail formats, including the potential to assemble with neighboring downtown buildings under common ownership for a larger, coordinated destination.
Key Highlights
- Historic 1927 building originally built as the First National Bank of Kingsport with 26,100± SF and three stories plus a historic cellar.
- Elegant marble and limestone facade with exposed brick interiors, soaring ceilings, original architectural details, and an intact bank vault.
- Passenger elevator and expansive rooftop deck, creating built‑in amenity space for redevelopment concepts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,647
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,272,940
$3.3M
Cap Rate 7%
$2,337,814
$2.3M
Cap Rate 9%
$1,818,300
$1.8M
Market Conditions
NOI Build-Up for 26,100 SF
Gross rent
$391.5K $15.00/SF
− Vacancy
−$47.0K −$1.80/SF
EGI
$344.5K $13.20/SF
− OpEx
−$180.9K −$6.93/SF
NOI
$163.6K $6.27/SF
Area
Sullivan County, TN
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,272,940
Cap Rate 7%
$2,337,814
Cap Rate 9%
$1,818,300
Alternative Uses
Best Use
Hotel Hospitality
$2.34M
$2.05M – $2.73M
NOI $163,647 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.77M
$8.55M – $11.40M
NOI $684,179 @ 7.0% cap · market cap 27.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,960
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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Frequently Asked Questions
What type of property is this?
Hotel - Three-story historic landmark with cellar, rooftop deck, and intact bank vault in Kingsport’s B-2 Central Business District.
Where is this hotel located?
The property is located at 255 Broad St Kingsport, TN.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Historic 1927 building originally built as the First National Bank of Kingsport with 26,100± SF and three stories plus a historic cellar.; Elegant marble and limestone facade with exposed brick interiors, soaring ceilings, original architectural details, and an intact bank vault.; Passenger elevator and expansive rooftop deck, creating built‑in amenity space for redevelopment concepts.
