Two-Story Mixed-Use
For Sale
$319,900
809 E Sullivan Street, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size3,198 SF
Lot Size0.16 Acres
Price / SF$100.03
Days on Market124
Property Features for 809 E Sullivan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B 2E
Subdivision
City Of Kingsport
Directions
From I-26, take exit #4 for TN-93 S, continue straight onto Wilcox Drive, go 2.6 miles, turn left onto E Sullivan Street, property is on your right, see sign.
Standard status
Active
APN
046o H 049.00
Size
3,198 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1097
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
stainless-steel appliances
updated bathroom
copper sink
barn doors
exposed brick walls
washer and dryer included
back patio
hot-tub
storage building
privacy fence
in-ground pool
Building Details
Year built
1940
Building materials
Brick
Roof type
Metal
Listing Agency:
REMAX Checkmate, Inc. Realtors · RE/MAX International
(423) 282-0432
Listed By:
Petra Becker · License #298523
(423) 791-9000
Added: May 31
Changed: Sep 13
Last Checked: Oct 1 at 5:06PM
MLS# 9996152
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.
Built in 1940, this two-story brick property contains 3,198 square feet on a 0.16-acre parcel. The 1,690-square-foot first floor provides a storefront or retail area, reception space, two offices, a rear office or conference room, storage, one bathroom, and washer-dryer hookups. The 1,508-square-foot upper level is configured as a two- or three-bedroom apartment with a living area, kitchen, updated bathroom, stainless-steel appliances, and included washer and dryer. The upper unit also has access to a back patio, hot tub, storage building, privacy fence, and in-ground pool.
Located in downtown Kingsport, the property is near shopping and dining with access to I-26. It is zoned B 2E and has public water and public sewer service. Heating and cooling are provided by heat pump systems, with central air also present.
Located in downtown Kingsport, the property is near shopping and dining with access to I-26. It is zoned B 2E and has public water and public sewer service. Heating and cooling are provided by heat pump systems, with central air also present.
Key Highlights
- 3,198 SF two‑story brick building constructed in 1940
- 1,690 SF street‑level storefront with offices, reception or retail area, storage, and bathroom
- 1,508 SF upstairs apartment with 2 or 3 bedrooms
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
$28,062
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
8.77%
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%
$561,240
$561.2K
Cap Rate 7%
$400,886
$400.9K
Cap Rate 9%
$311,800
$311.8K
Market Conditions
NOI Build-Up for 3,198 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
$49.9K $15.60/SF
− Vacancy
−$5.0K −$1.56/SF
EGI
$44.9K $14.04/SF
− OpEx
−$16.8K −$5.27/SF
NOI
$28.1K $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 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%
$561,240
Cap Rate 7%
$400,886
Cap Rate 9%
$311,800
Alternative Uses
Best Use
Retail
$705.9K
$617.6K – $823.5K
NOI $49,411 @ 7.0% cap · market cap 15.45%
Second Best
Mixed Use
$400.9K
$350.8K – $467.7K
NOI $28,062 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,832 @ 7.0% cap · market cap 26.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,487
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property combining a street-level retail suite with an upstairs apartment and separate entrances.
Where is this mixed-use property located?
The property is located at 809 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 3,198 SF two‑story brick building constructed in 1940; 1,690 SF street‑level storefront with offices, reception or retail area, storage, and bathroom; 1,508 SF upstairs apartment with 2 or 3 bedrooms
