Mixed-Use Commercial Parcel
For Sale
$550,000
3209 Memorial Boulevard, Kingsport, TN 37664
COMMERCIAL - Kingsport, TN
Property Size3,996 SF
Lot Size1.34 Acres
Price / SF$137.64
Days on Market129
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
Taxes and HOA fees
Tax Annual Amount
994
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Building materials
Brick
Listing Agency:
Selling Stateline Real Estate Group
(423) 343-9026
Listed By:
Brittany Reed · License #330034
(423) 773-9374
Added: Apr 13
Changed: Aug 4
Last Checked: Aug 19 at 1:06PM
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.
Investment Insights
Based on property information with market context.
This for-sale package includes multiple buildings and lots: an approximately 2,706-square-foot historic home, an 8-unit motel, and a separate office building that may accommodate multiple tenants or business operations. The historic home includes 3 bedrooms and 2 bathrooms and is described as retaining original character, with flexible potential for residential or commercial use subject to zoning. The motel is positioned as a renovation opportunity with continued lodging use or other permitted uses, and the office building offers space for business activity.
The property is located at 3209 Memorial Boulevard in Kingsport, Tennessee, and is described as having prime Memorial Blvd. frontage with convenient access and visibility. The package is sold together as parcels 062H H 001.00 (house + motel/office) and Clover St Lots 14 & 15 (062H H 010.00 & 062H H 011.00). All are zoned B-3 and R-1.
The seller notes that buyers and buyer’s agents should verify all information, including square footage, zoning, permitted uses, and development potential.
The property is located at 3209 Memorial Boulevard in Kingsport, Tennessee, and is described as having prime Memorial Blvd. frontage with convenient access and visibility. The package is sold together as parcels 062H H 001.00 (house + motel/office) and Clover St Lots 14 & 15 (062H H 010.00 & 062H H 011.00). All are zoned B-3 and R-1.
The seller notes that buyers and buyer’s agents should verify all information, including square footage, zoning, permitted uses, and development potential.
Key Highlights
- Zoned B‑3 and R‑1; being sold as a package including parcels 062H H 001.00 and Clover St Lots 14 & 15 (062H H 010.00 & 062H H 011.00).
- Includes an approximately 2,706 SF historic brick home built in 1950 with 3 bedrooms and 2 bathrooms.
- Also includes an 8‑unit motel with renovation potential and continued lodging use or other permitted uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$501,100
$501.1K
Cap Rate 7%
$357,929
$357.9K
Cap Rate 9%
$278,389
$278.4K
Market Conditions
NOI Build-Up for 3,996 SF
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.
Gross rent
$59.9K $15.00/SF
− Vacancy
−$7.2K −$1.80/SF
EGI
$52.7K $13.20/SF
− OpEx
−$27.7K −$6.93/SF
NOI
$25.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$501,100
Cap Rate 7%
$357,929
Cap Rate 9%
$278,389
Alternative Uses
Best Use
Office B
$833.5K
$729.4K – $972.5K
NOI $58,348 @ 7.0% cap · market cap 10.61%
Second Best
Hotel Hospitality
$357.9K
$313.2K – $417.6K
NOI $25,055 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,750 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - Package includes a historic home, an 8-unit motel, an office building, and two additional lots, all zoned B-3.
Where is this motel located?
The property is located at 3209 Memorial Boulevard Kingsport, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Zoned B‑3 and R‑1; being sold as a package including parcels 062H H 001.00 and Clover St Lots 14 & 15 (062H H 010.00 & 062H H 011.00).; Includes an approximately 2,706 SF historic brick home built in 1950 with 3 bedrooms and 2 bathrooms.; Also includes an 8‑unit motel with renovation potential and continued lodging use or other permitted uses.
