Two-Story Mixed-Use
For Sale
$495,000
300 E Sullivan Street, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size6,308 SF
Lot Size0.07 Acres
Price / SF$78.47
Days on Market247
Property Features for 300 E Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Directions
Center Street to Sullivan Street
Subdivision
412 - Highland, Fairacres, Preston For
Standard status
Active
APN
046p D 018.00
Size
6,308 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1198
Building Details
Year built
1920
Building materials
Brick
Listing Agency:
TCI Group - Jerry Petzoldt Agency, LLC
(423) 230-0255
Listed By:
Lynn Shipley · License #347057
(423) 612-4905
Added: Feb 5
Changed: Oct 2
Last Checked: Oct 10 at 2:06AM
MLS# 9990886
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.
This two-story mixed-use building contains approximately 6,308 square feet on a 0.07-acre parcel and was constructed in 1920. The former two-building configuration has been integrated into one structure, with brick construction and a largely open interior. The property is partially built out for four loft apartments, with plans identifying two 1-bedroom units and one 2-bedroom unit upstairs, plus a 2-bedroom unit on the main level.
A roughly 1,400-square-foot open area on the main floor offers space identified for retail, a cafe, or additional loft units. Exterior work completed from 2018 to 2020 included brick cleaning, roof replacement, and new windows. Located at the corner of E Sullivan Street and Cherokee Streets in Downtown Kingsport, the property has access to city parking at the opposite street corner. B2 zoning and construction plans are also included in the property information.
A roughly 1,400-square-foot open area on the main floor offers space identified for retail, a cafe, or additional loft units. Exterior work completed from 2018 to 2020 included brick cleaning, roof replacement, and new windows. Located at the corner of E Sullivan Street and Cherokee Streets in Downtown Kingsport, the property has access to city parking at the opposite street corner. B2 zoning and construction plans are also included in the property information.
Key Highlights
- Approximately 6,308 square feet on a 0.07‑acre parcel
- Two‑story brick building constructed in 1920
- Partially built out for 4 loft apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,064
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,280
$881.3K
Cap Rate 7%
$629,486
$629.5K
Cap Rate 9%
$489,600
$489.6K
Market Conditions
NOI Build-Up for 6,308 SF
Gross rent
$84.8K $13.44/SF
− Vacancy
−$4.7K −$0.74/SF
EGI
$80.1K $12.70/SF
− OpEx
−$36.1K −$5.72/SF
NOI
$44.1K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,280
Cap Rate 7%
$629,486
Cap Rate 9%
$489,600
Alternative Uses
Best Use
Mixed Use
$790.8K
$691.9K – $922.6K
NOI $55,353 @ 7.0% cap · market cap 11.18%
Second Best
Apartment 5plus
$629.5K
$550.8K – $734.4K
NOI $44,064 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,356 @ 7.0% cap · market cap 33.41%
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
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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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 downtown building with loft apartment plans and flexible main-level commercial space.
Where is this mixed-use property located?
The property is located at 300 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Approximately 6,308 square feet on a 0.07‑acre parcel; Two‑story brick building constructed in 1920; Partially built out for 4 loft apartments
