Downtown Mixed-Use Live-Work
427 & 431 East Sullivan Street Kingsport, TN 37660
427 & 431 East Sullivan Street, Kingsport, TN, 37660
$450,000
For Sale
$450,000
Two-parcel live-work property with studio apartment, flexible office/retail space, courtyard, and detached rear buildings.
Property Size4,430 SF
Price / SF$101.58
Days on Market224
Property Features for 427 & 431 East Sullivan Street
General Information
- Standard status
- Active
- Size
- 4,430 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1920
Listing agency
Selling Stateline Real Estate Group
(423) 343-9026
Listed by
Keisha Manis · License #333012
Source
Xome
Added: Dec 11, 2025 Updated: Jul 21 at 1:47AM Checked: Jul 22 at 3:50AM
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 Selling Stateline Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use live-work property is offered as two parcels and includes a studio apartment along with flexible office or retail space. Outdoor amenities feature a rare grass courtyard, supported by a pergola and a storage building. At the rear of the property, there are two additional detached buildings, expanding possibilities for added rental opportunities, creative workspaces, or other business use. The property also includes dedicated parking to support on-site operations.
Located in the heart of Downtown Kingsport along E Sullivan Street, the property is described as highly visible and walkable. The listing also notes that the property is positioned in an Opportunity Zone. Recent improvements include a new HVAC system, and the roof has been inspected and confirmed to be in good condition. Buyer and buyer’s agent should verify all information.
Located in the heart of Downtown Kingsport along E Sullivan Street, the property is described as highly visible and walkable. The listing also notes that the property is positioned in an Opportunity Zone. Recent improvements include a new HVAC system, and the roof has been inspected and confirmed to be in good condition. Buyer and buyer’s agent should verify all information.
Key Highlights
- Two‑parcel live‑work property in downtown Kingsport with a studio apartment plus flexible office/retail space
- Includes dedicated parking and a rare grass courtyard with a pergola and storage building
- Rear of property features two additional detached buildings for expanded rental or business use
Local Financial Insights For Mixed Use
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 | $69.1k | $15.60 |
| − Vacancy | −$6.9k | −$1.56 |
| EGI | $62.2k | $14.04 |
| − OpEx | −$23.3k | −$5.27 |
| NOI | $38.9k | $8.77 |
4,430 SF · lease $15.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$924.1K
$808.6K – $1.08M
NOI $64,685 @ 7.0% cap · market cap 14.37%
Second Best
Mixed Use
$555.3K
$485.9K – $647.9K
NOI $38,873 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,127 @ 7.0% cap · market cap 25.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Two-parcel live-work property with studio apartment, flexible office/retail space, courtyard, and detached rear buildings.
Where is this live-work space located?
The property is located at 427 & 431 East Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑parcel live‑work property in downtown Kingsport with a studio apartment plus flexible office/retail space; Includes dedicated parking and a rare grass courtyard with a pergola and storage building; Rear of property features two additional detached buildings for expanded rental or business use
