Brick Townhome Apartment
For Sale
Contact for pricing
Pending
730 Sir Echo Dr, Kingsport, TN 37663
Ten two-bedroom townhomes with individual HVAC and covered entries, plus on-site coin laundry and tenant storage facilities.
Property Size10,584 SF
Days on Market153
Property Features for 730 Sir Echo Dr
General Information
Standard status
Pending
Size
10,584 SF
Property subtype
Multifamily
Zoning
R3
Occupancy
80%
Investment Type
Value Add
Additional Details
Business Included
Yes
Multifamily Units
10
Building Details
Year Built
1968
Buildings
1
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
SVN | Wood Properties
Listed By:
Jon Roosen · License #TN 366234
(865) 936-9999
Source:
Crexi
Added: Apr 6
Changed: Aug 27
Last Checked: Aug 31 at 11:31AM
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 SVN | Wood Properties
Investment Insights
Based on property information with market context.
730 Sir Echo Dr is a 10-unit townhome community featuring ten two-bedroom, one-and-a-half-bath residences. Each unit provides washer and dryer hookups, replacement low-maintenance windows, individual HVAC systems, and covered front entryways with storm doors. Select homes include full-length covered back porches.
The property is constructed with brick on all four sides and has been systematically updated by ownership. Recent improvements include a new roof, updated gutters, fresh asphalt paving and striped parking areas, and new water heaters in select units. On-site laundry is available through a dedicated laundry facility with commercial coin-operated machines, and each unit also has access to tenant storage with lockable closets.
This is a self-contained multifamily setup designed for day-to-day resident convenience, combining individual unit systems with shared laundry and secure storage for each home.
The property is constructed with brick on all four sides and has been systematically updated by ownership. Recent improvements include a new roof, updated gutters, fresh asphalt paving and striped parking areas, and new water heaters in select units. On-site laundry is available through a dedicated laundry facility with commercial coin-operated machines, and each unit also has access to tenant storage with lockable closets.
This is a self-contained multifamily setup designed for day-to-day resident convenience, combining individual unit systems with shared laundry and secure storage for each home.
Key Highlights
- 10 two‑bedroom townhomes built in 1968, each with 1.5 bathrooms and 950 SF of living space
- Brick construction on all four sides; covered front entryways with storm doors
- Each unit has its own HVAC system, plus washer and dryer hookups
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
$73,934
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
6.16%
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%
$1,478,680
$1.5M
Cap Rate 7%
$1,056,200
$1.1M
Cap Rate 9%
$821,489
$821.5K
Market Conditions
NOI Build-Up for 10,584 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
$142.2K $13.44/SF
− Vacancy
−$7.8K −$0.74/SF
EGI
$134.4K $12.70/SF
− OpEx
−$60.5K −$5.72/SF
NOI
$73.9K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$1,478,680
Cap Rate 7%
$1,056,200
Cap Rate 9%
$821,489
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$924.2K – $1.23M
NOI $73,934 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.96M
$3.47M – $4.62M
NOI $277,446 @ 7.0% cap · market cap 23.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 37663, TN
14,392
Population
6,679
Households
2.2
Avg Household Size
47
Median Age
34%
College-Educated
95%
High-School Grad
25.8 sq mi
ZIP Area
558
Density / Sq Mi
$76,122
Median Household Income
$45,399
Median Earnings
$886
Median Rent
$224,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten two-bedroom townhomes with individual HVAC and covered entries, plus on-site coin laundry and tenant storage facilities.
Where is this apartment building located?
The property is located at 730 Sir Echo Dr Kingsport, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 10 two‑bedroom townhomes built in 1968, each with 1.5 bathrooms and 950 SF of living space; Brick construction on all four sides; covered front entryways with storm doors; Each unit has its own HVAC system, plus washer and dryer hookups
