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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    212 E Sullivan St Kingsport, TN 37660

    • Warehouses
    • 11,300 SF
    • 120.00 lot acres
    For Sale
    View listing
    $680,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0880572
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 212 E Sullivan St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    120.00 lot acres
    Property size
    11,300 SF
    Property type
    Warehouses
    APN
    082046I E 03400
    APU
    082046IE03400

    Description

    This vacant, 11,609 square foot mixed-use property, located at 212 E Sullivan St, Kingsport, TN 37660, presents a compelling investment opportunity. Built in 1930, this single-story building sits on a 20,623 square foot lot and offers 18 parking spaces. Currently vacant, it provides a blank canvas for redevelopment, capitalizing on the revitalization efforts in Kingsport's bustling downtown district. The property's location offers proximity to local amenities, government incentives, and a strong community. The asking price is $680,000, translating to $58.58 per square foot. This property is ideally suited for a value-add strategy, leveraging the potential for increased returns through renovations and lease optimization. Kingsport's designation as an Opportunity Zone provides additional tax incentives for qualified investors. The property's diverse potential uses, including restaurant and executive office space, cater to a wide range of tenants. The strong community growth and proximity to amenities further enhance its appeal and potential for future profitability. This presents a unique chance to contribute to the ongoing revitalization of downtown Kingsport while securing a potentially lucrative investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $239,000
      Market price range: $209k - $763k
      AI Estimate
      $280,000
      Market price range: $269k - $877k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $490,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.5575
    Latitude
    36.5479
    CBSA code
    28700
    CBSA name
    KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $23,760
    $43,440
    $67,200
    -
    $59,400
    $108,600
    $168,000

    Comparable in this City

    • Value Estimation
      $295,000
      2,920 SF

      4136 Sullivan Gdns Dr

      WAREHOUSE, STORAGE • 2,920 SF
      4136 Sullivan Gdns Dr, Kingsport, TN 37660-7703
      View Details
    • Value Estimation
      $385,000
      3,444 SF

      3024 Brookside Dr

      WAREHOUSE, STORAGE • 3,444 SF
      3024 Brookside Dr, Kingsport, TN 37660-6642
      View Details
    • Value Estimation
      $350,000
      7,540 SF

      2001 Brookside Ln

      WAREHOUSE, STORAGE • 7,540 SF
      2001 Brookside Ln, Kingsport, TN 37660-6637
      View Details
    • Value Estimation
      $295,000
      6,240 SF

      1900 Brookside Ln

      WAREHOUSE, STORAGE • 6,240 SF
      1900 Brookside Ln, Kingsport, TN 37660-6633
      View Details
    • Value Estimation
      $325,000
      10,865 SF

      500 Main St

      WAREHOUSE, STORAGE • 10,865 SF
      500 Main St, Kingsport, TN 37660-4820
      View Details
    • Value Estimation
      $325,000
      6,225 SF

      240 Main St

      WAREHOUSE, STORAGE • 6,225 SF
      240 Main St, Kingsport, TN 37660-4302
      View Details

    Similar Nearby for Sale

    • $245,000
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      Remodeled Commercial Property in Kingsport

      Remodeled commercial property with apartment and warehouse space in downtown Kingsport.
      917 E Sullivan St, Kingsport, TN 37660
      View Details
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      East Stone Drive Commercial Property

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      Renovated Kingsport Retail/Warehouse Building

      Renovated retail and warehouse space with historic charm.
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      Versatile Commercial Property in Kingsport

      5,600+/- SF commercial property with fenced lot in high-traffic area.
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      Kingsport Flex Industrial Building

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      Kingsport Commercial Space For Sale

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    Similar Nearby for Lease

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      $1,976 /Mo
      1,694 SF

      Medical/Mixed-Use Building For Lease

      Medical/mixed-use building in prime Kingsport location with optional warehouse space.
      1526 Bridgewater Ln, Kingsport, TN 37660
      View Details
    • $1,750,000
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      Kingsport Commercial Property For Lease

      Commercial property with warehouse and office space, available January 2026.
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      View Details
    • $1,800 /Mo
      1,800 SF

      Downtown Kingsport Commercial Space Available

      1800 SF commercial space with roll-up doors in Kingsport.
      422 E Market St, Kingsport, TN 37660
      View Details
    • New
      $3,197 /Mo
      2,740 SF

      Medical Mixed-Use Building For Lease

      Medical mixed-use building for lease in prime Kingsport, Tennessee location.
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      View Details
    • $10 SF/Yr
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      West Park Medical Office Suites

      Kingsport, TN medical office space available.
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      View Details
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      Kingsport Centre: Prime Office Space

      Historic Downtown Kingsport Office & Retail
      108 Main St, Kingsport, TN 37660
      View Details
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    212 E Sullivan St
    Kingsport, TN 37660
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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