Mixed-Use Property with 8-Unit
For Sale
$449,900
3209 Memorial Boulevard, Kingsport, TN 37664
Commercial Sale, Kingsport, TN
Property Size3,996 SF
Lot Size1.34 Acres
Price / SF$112.59
Days on Market205
Property Features for 3209 Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3
Subdivision
Green Acres
Directions
From downtown Kingsport, take East Center Street toward Memorial Blvd. Turn right onto Memorial Boulevard. Property is located at the corner of Memorial Blvd and Clover Street. See sign.
Standard status
Active
APN
062h H 00100 001
Size
3,996 SF
Lot size
1.34 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Annual Amount
994
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Building materials
Brick
Buildings
1
Listing Agency:
Selling Stateline Real Estate Group
(423) 343-9026
Listed By:
Brittany Reed · License #330034
(423) 773-9374
Added: Apr 13
Changed: Nov 2
Last Checked: Nov 3 at 5:06PM
MLS# 9993799
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.
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Investment Insights
Based on property information with market context.
This 1.34-acre mixed-use package includes an 8-unit motel, a separate office building, a historic home, and two additional lots. The home measures approximately 2,706 square feet and has 3 bedrooms and 2 bathrooms. The property has 3,996 square feet of listed building area and is served by public water and sewer.
Located at 3209 Memorial Boulevard in Kingsport, the package includes the home, motel, office building, and lots on Clover Street. The buildings and land are offered together.
Located at 3209 Memorial Boulevard in Kingsport, the package includes the home, motel, office building, and lots on Clover Street. The buildings and land are offered together.
Key Highlights
- 8‑unit motel
- Approximately 2,706‑square‑foot historic home with 3 bedrooms and 2 bathrooms
- 3,996 square feet of listed property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,065
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,300
$701.3K
Cap Rate 7%
$500,929
$500.9K
Cap Rate 9%
$389,611
$389.6K
Market Conditions
NOI Build-Up for 3,996 SF
Gross rent
$62.3K $15.60/SF
− Vacancy
−$6.2K −$1.56/SF
EGI
$56.1K $14.04/SF
− OpEx
−$21.0K −$5.27/SF
NOI
$35.1K $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%
$701,300
Cap Rate 7%
$500,929
Cap Rate 9%
$389,611
Alternative Uses
Best Use
Office B
$833.5K
$729.4K – $972.5K
NOI $58,348 @ 7.0% cap · market cap 12.97%
Second Best
Mixed Use
$500.9K
$438.3K – $584.4K
NOI $35,065 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,750 @ 7.0% cap · market cap 23.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines lodging, office space, a historic home, and two additional lots.
Where is this mixed-use property located?
The property is located at 3209 Memorial Boulevard Kingsport, TN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 8‑unit motel; Approximately 2,706‑square‑foot historic home with 3 bedrooms and 2 bathrooms; 3,996 square feet of listed property area
