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

    242 Main St Kingsport, TN 37660-4302

    • Turn key restaurants
    • 5,750 SF
    • 25.00 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1981954
    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

    • The Main Street Pizza Company - Kingsport / Pizza Restaurant / Restaurant

    Property Details for 242 Main St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    25.00 lot acres
    Property size
    5,750 SF
    Property type
    Turn key restaurants
    APN
    082046P C 00200
    APU
    082046PC00200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $301,000
      Market price range: $301k - $822k

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.56
    Latitude
    36.5443
    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
    $4,120
    $116,600
    $120,720
    -
    $10,300
    $291,500
    $301,800

    Comparable in this City

    • Value Estimation
      $315,000
      1,539 SF

      815 Ctr St

      RESTAURANT • 1,539 SF
      815 Ctr St, Kingsport, TN 37660-3166
      View Details
    • Value Estimation
      $390,000
      3,528 SF

      301 Ctr St Ste B

      RESTAURANT • 3,528 SF
      301 Ctr St Ste B, Kingsport, TN 37660-3791
      View Details
    • Value Estimation
      $380,000
      646 SF

      1648 Stone Dr

      RESTAURANT • 646 SF
      1648 Stone Dr, Kingsport, TN 37660-4610
      View Details
    • Value Estimation
      $770,000
      5,501 SF

      818 Jonathan Way

      RESTAURANT • 5,501 SF
      818 Jonathan Way, Kingsport, TN 37660-1277
      View Details
    • Value Estimation
      $365,000
      1,587 SF

      1700 Stone Dr

      RESTAURANT • 1,587 SF
      1700 Stone Dr, Kingsport, TN 37660-4612
      View Details
    • Value Estimation
      $385,000
      6,815 SF

      1750 Stone Dr

      RESTAURANT • 6,815 SF
      1750 Stone Dr, Kingsport, TN 37660-4612
      View Details

    Similar Nearby for Sale

    • $875,000
      3,365 SF

      Existing Restaurant on Stone Drive

      Pizza Hut location for sale in Kingsport, Tennessee.
      4414 W Stone Dr, Kingsport, TN 37660
      View Details
    • $1,595,000
      13,000 SF

      Iconic Kingsport Property For Sale

      Over 13,000 sqft on 0.97 acres with B3 zoning.
      1225 E Stone Dr, Kingsport, TN 37660
      View Details
    • $675,000
      0.48 Acres

      Prime Corner Lot on Stone

      Half-acre corner lot ideal for quick-serve restaurant on busy street.
      1401 W Stone Dr, Kingsport, TN 37660
      View Details
    • $239,900

      Kingsport Bar/Restaurant Opportunity For Sale

      Neighborhood bar with outdoor deck on 0.7 acres.
      2705 N John B Dennis Hwy, Kingsport, TN 37660
      View Details
    • $239,900
      1,848 SF

      Kingsport Commercial Opportunity For Sale

      Commercial property suited for bar, restaurant, or retail use.
      2705 N John B Dennis Hwy, Kingsport, TN 37660
      View Details
    • $300,000
      6,756 SF

      Historic Theater with Redevelopment Potential

      Former 700-seat theater suitable for entertainment, events, or restaurant.
      155 Broad St, Kingsport, TN 37660
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      5,300 SF

      Corner Restaurant Space For Lease

      High-visibility corner unit ideal for restaurant use.
      935 Wilcox Ct, Kingsport, TN 37660
      View Details
    • $12 SF/Yr
      4,281 SF

      Press Commons: Kingsport Office Space

      Prime Kingsport office suites available.
      300 Clinchfield St, Kingsport, TN 37660
      View Details
    • $11 SF/Yr
      38,304 SF

      Kingsport Centre: Prime Office Space

      Historic Downtown Kingsport Office & Retail
      108 Main St, Kingsport, TN 37660
      View Details
    • $16 SF/Yr
      1,021 SF

      Remodeled Kingsport Building For Lease

      Remodeled building with retail and office suites available for lease.
      301 E Main St, Kingsport, TN 37660
      View Details
    • $1,650 /Mo
      1,609 SF

      Kingsport Retail Space For Rent

      Commercial space suitable for salons, groomers, or medical offices.
      2906-2908 Bloomingdale Rd, Kingsport, TN 37660
      View Details
    • New
      $949 /Mo
      500 SF

      Kingsport Retail Space For Lease

      Retail spaces available with storefront and included utilities in Kingsport.
      244 E Center St, Kingsport, TN 37660
      View Details
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    242 Main St
    Kingsport, TN 37660-4302
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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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