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Downtown Kingsport Mixed-Use Opportunity

300 E Sullivan Street Kingsport, TN 37660

Claim this Listing
For Sale
$495,000

COMMERCIAL - Kingsport, TN

Property size:
6,308 SF
Lot size:
0.07 Acres
Price / SF:
$78.47/SF
Added:
Feb 5, 2026
Days on Market:
159
Last Refresh:
Jul 14 at 3:06 am

Property Features for 300 E Sullivan Street

General Information

Property type
Commercial Sale
Property subtype
Other
Zoning
B2
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 agent Lynn Shipley License #347057

Listing office TCI Group - Jerry Petzoldt Agency, LLC 5 Red Bush Court Suite 20, TN

Listing date Feb 5, 2026

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.

Located in Downtown Kingsport on the corner of Sullivan and Cherokee Streets, this two-story mixed-use building offers an opportunity for investors or owner-occupants. Constructed in 1920, the building has approximately 6308 square feet and was originally two separate buildings combined into one. From 2018 to 2020, the brick exterior was cleaned, the roof was replaced, and new windows were installed. The interior has been largely cleared of walls. The property is partially built out to house four loft apartments, with plans specifying two 1-bedroom units and one 2-bedroom unit on the second floor, and one 2-bedroom unit on the main level. The main level also includes an open area of about 1400 square feet suitable for retail space, a cafe, or additional loft units. City parking is available on the opposite street corner. Construction plans are available for review. The property is zoned B2 and sits on a lot of approximately 0.07 acres.

Key Highlights

  • Opportunity for investor or owner/occupant.
  • Located in Downtown Kingsport on the corner of Sullivan and Cherokee Streets.
  • Partially built out to house 4 loft apartments (two 1‑bedroom, two 2‑bedroom).

Local Financial Insights For Apartment 5plus

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 $84.8k $13.44
− Vacancy −$4.7k −$0.74
EGI $80.1k $12.70
− OpEx −$36.1k −$5.72
NOI $44.1k $6.99
6,308 SF · lease $13.44/SF/yr · vacancy 5.50% · expense 45.00%

Alternative Uses

Best Use
Retail
$1.39M
$1.22M – $1.62M (±1% cap)
NOI $97,463 @ 7.0% cap · market cap 19.69%
Second Best
Mixed Use
$790.8K
$691.9K – $922.6K (±1% cap)
NOI $55,353 @ 7.0% cap · market cap 11.18%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M (±1% cap)
NOI $165,356 @ 7.0% cap · market cap 33.41%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Auto Parts Store Storage Facility Garden Center Big Box & Wholesale Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store Gym & Fitness Center Wine and Liquor Store HVAC Service

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

FAQs

What type of property is this?
Mixed-use property - Two-story building in downtown Kingsport with retail and residential potential.
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: Opportunity for investor or owner/occupant.; Located in Downtown Kingsport on the corner of Sullivan and Cherokee Streets.; Partially built out to house 4 loft apartments (two 1‑bedroom, two 2‑bedroom).
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