Downtown Mixed-Use Condominium
For Sale
$4,250,000
453 E Main St, Kingsport, TN 37660
Combines eight residential condominiums with street-level commercial space, gated parking, and a new elevator.
Property Size23,000 SF
Price / SF$184.78
Days on Market211
Property Features for 453 E Main St
General Information
Standard status
Active
Size
23,000 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Multifamily Units
8
Amenities
gated parking
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Highlands Real Estate Sea Glass
Listed By:
Taylor Bettis · License #349600
(423) 341-2408
Source:
Tnhomesfinder
Added: Mar 19
Changed: Oct 1
Last Checked: Oct 14 at 11:22PM
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 Highlands Real Estate Sea Glass
Investment Insights
Based on property information with market context.
This mixed-use property includes eight condominium units arranged across four floor plans, with individual residences ranging from 1,250 to 1,350 square feet. The building also contains approximately 6,000 square feet of street-level commercial area, creating a combination of residential and commercial components within one asset. A new elevator and gated on-site parking are included, and the property was built in 2026.
Located at 453 E. Main Street in downtown Kingsport, the property offers a walkable setting with visibility along East Main Street. The site is positioned for access to Johnson City and Bristol, placing the asset within the Tri-Cities area. Residential interiors include central air or wall air conditioning, along with dishwashers, washers, dryers, ranges, and refrigerators.
Located at 453 E. Main Street in downtown Kingsport, the property offers a walkable setting with visibility along East Main Street. The site is positioned for access to Johnson City and Bristol, placing the asset within the Tri-Cities area. Residential interiors include central air or wall air conditioning, along with dishwashers, washers, dryers, ranges, and refrigerators.
Key Highlights
- Eight condominium units across 4 floor plans
- Residential units range from 1,250 to 1,350 SF
- Approximately 6,000 square feet of street‑level commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$355,364
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,107,280
$7.1M
Cap Rate 7%
$5,076,629
$5.1M
Cap Rate 9%
$3,948,489
$3.9M
Market Conditions
NOI Build-Up for 23,000 SF
Gross rent
$529.9K $23.04/SF
− Vacancy
−$22.3K −$0.97/SF
EGI
$507.7K $22.07/SF
− OpEx
−$152.3K −$6.62/SF
NOI
$355.4K $15.45/SF
Area
Sullivan County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,107,280
Cap Rate 7%
$5,076,629
Cap Rate 9%
$3,948,489
Alternative Uses
Best Use
Retail
$5.08M
$4.44M – $5.92M
NOI $355,364 @ 7.0% cap · market cap 8.36%
Second Best
Mixed Use
$2.88M
$2.52M – $3.36M
NOI $201,825 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$8.61M
$7.54M – $10.05M
NOI $602,916 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,452
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 - Combines eight residential condominiums with street-level commercial space, gated parking, and a new elevator.
Where is this mixed-use property located?
The property is located at 453 E Main St Kingsport, TN.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Eight condominium units across 4 floor plans; Residential units range from 1,250 to 1,350 SF; Approximately 6,000 square feet of street‑level commercial space
