217 Broad St Kingsport, TN 37660

13,200 SF 0.16 ac lot Built 1920

Individually Owned 1-yr Hold ~ Est. High Equity

Property ID

US80-0324591

$619,000 13,200 SF

217 Broad St, Kingsport, TN 37660
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This three-story, 6,217 square foot mixed-use property at 217 Broad Street, Kingsport, TN 37660, is a fully occupied, multi-tenant (five tenants) retail building with residential lofts. Built in 1920 and renovated in 2010, it sits on a 6,949 square foot lot and offers a strong 8.44% cap rate with a current NOI of $75,520. The asking price is $894,809 ($125/sq ft). The property features a triple-net (NNN) lease structure with a remaining lease term of approximately two years (expiring August 31, 2025). The first floor comprises retail space, while the second floor houses residential lofts, with one currently available for sale out of nine. This Class B building presents a compelling value-add opportunity in a thriving Opportunity Zone, benefiting from its prime downtown location, diverse income streams, and potential for lease optimization and renovations. The property's strong occupancy (100%) and existing cash flow make it an attractive investment for various profiles, including 1031 exchange buyers and those seeking a sale-leaseback arrangement. The seller is motivated and open to selling the property as part of a larger portfolio or individually.