2020 Center St Kingsport, TN 37664

Property Details for 2020 Center St

Year built

1920

Lot size

25.00 lot acres

Property size

8,800 SF

Property type

Retail space

APN

082061D E 01300

APU

082061DE01300

Description

This exceptional 8,800 square foot commercial property at 2020 E Center Street, Kingsport, TN, presents a remarkable investment opportunity. Situated on a 0.09-acre lot, this historic building, formerly known as the Palmer Building, boasts a rich history and a proven track record as a highly successful apartment complex. Currently operating at 100% occupancy nearly year-round, the property generates a substantial $6,700 in monthly rental income ($80,400 annually). The eleven units comprise one two-bedroom, one-bathroom unit and ten one-bedroom, one-bathroom units, totaling twelve bedrooms and eleven bathrooms. All units are currently occupied. Its prime location offers unparalleled convenience, within walking distance of Dobyns-Bennett High School and minutes from the amenities of East Stone Drive. The versatile space is ideal for a variety of uses, including office spaces, restaurants, or other commercial ventures. The property benefits from the owner paying all utilities, and there are no HOA or CAM fees. Detailed rent rolls and expense reports are available upon request. This turnkey investment offers excellent cash flow with significant potential for increased returns through future improvements. Don't miss this chance to acquire a high-performing asset in a desirable Kingsport location. The asking price is $449,900.