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    Property profile & analytics

    247 Broad St Kingsport, TN 37660

    • Retail space
    • 20,800 SF
    • 50.00 lot acres
    For Sale
    View listing
    $2,466,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1424029
    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

    • Appalachian Title / Title Company
    • iInvest Solutions / Investment Company / Financial Planner
    • Home Helpers & Direct Link of the Tri-Cities / Home Health Care Service
    • Literacy Council of Kingsport / Non-Profit Organization
    • Urban Brews & Creamery / Coffee Shop

    Property Details for 247 Broad St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    50.00 lot acres
    Property size
    20,800 SF
    Property type
    Retail space
    APN
    082046P B 02600
    APU
    082046PB02600

    Description

    This exceptional investment opportunity encompasses a diverse portfolio of eleven mixed-use buildings totaling 153,110 square feet in downtown Kingsport, Tennessee. Located within a mile radius, these properties offer a compelling blend of retail, office, and multifamily units, presenting a significant value-add potential. Currently boasting 50 units and 20 pads, the portfolio sits on a combined lot size ranging from 1,474 to 20,623 square feet, with a land value of $439,400 per square foot. Built in 1930 and renovated between 2010 and 2017, the three-story buildings are classified as Class C and operate under a net lease agreement with multi-tenant occupancy. The portfolio currently enjoys a 46% occupancy rate, generating a net operating income (NOI) of $850,332, and is priced at $13,166,417 ($85.99 per square foot). Situated in a designated Opportunity Zone, this portfolio offers substantial tax advantages for qualified investors. The prime downtown location benefits from ongoing revitalization efforts, proximity to amenities, and strong community support. The portfolio's diverse income streams, coupled with the potential for lease optimization and renovations, make it an attractive investment for those seeking both immediate cash flow and long-term appreciation. The seller is open to selling portions of the portfolio or individual buildings. This is an ideal opportunity for 1031 exchange buyers, opportunity zone funds, and investors seeking to capitalize on the significant growth potential of downtown Kingsport.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.5598
    Latitude
    36.547
    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
    $12,040
    $241,840
    $253,880
    -
    $30,100
    $604,600
    $634,700

    Comparable in this City

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      2204 Bloomingdale Rd

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      620 Boone St

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      1401 Bridgewater Ln

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    • Value Estimation
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      144 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 720 SF
      144 Broad St, Kingsport, TN 37660
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    • Value Estimation
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      11,250 SF

      139 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 11,250 SF
      139 Broad St, Kingsport, TN 37660-4201
      View Details

    Similar Nearby for Sale

    • $319,000
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      Kingsport Mixed-Use Investment Opportunity

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      Kingsport Commercial Opportunity For Sale

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    • $1,570,000
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      Retail property with redevelopment opportunity in Kingsport, Tennessee.
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    Similar Nearby for Lease

    • $16 SF/Yr
      1,021 SF

      Remodeled Kingsport Building For Lease

      Remodeled building with retail and office suites available for lease.
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      Kingsport Retail Space For Rent

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    • New
      $949 /Mo
      500 SF

      Kingsport Retail Space For Lease

      Retail spaces available with storefront and included utilities in Kingsport.
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    • $1,500 /Mo
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      Kingsport Retail Space For Rent

      975 SF retail space in busy Stonegate Plaza.
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    • $1,650 /Mo
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      Kingsport Commercial Space For Rent

      Commercial space with plumbing, ideal for salons or medical offices.
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      View Details
    • Contact for pricing
      5,280 SF

      Retail Space Available For Rent

      Up to 27000 sq. ft. retail space available.
      4300 W Stone Dr, Kingsport, TN 37660
      View Details
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    247 Broad 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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