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27146334
27819943

244-252 Broad Street, Kingsport, TN 37660

JS
TN TN 305457
NAI Koella | RM Moore
LM
TN TN 13164228
NAI Koella | RM Moore
Listed by NAI Koella | RM Moore
$1,570,000
390 days on market
Updated 63 days ago
Opportunity zone

244-252 Broad Street

Details
Property Type Hospitality, Multifamily (+1)
Sub Type Restaurant
Square Footage 25,043
Cap Rate 3.18%
NOI $50,000
Occupancy 52%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 8.79%
Pro-Forma NOI $138,000
Price per SqFt $63
Broker Co-Op Yes
Class C
Year Built 1927
Buildings 1
Stories 2
Acreage 0.254
Zoning B-2
Investment Type Value Add
Tenant Credit No Credit Rating

Value Add - Mixed Use Opportunity ZONE - Kingsport, TN

Marketing description

  • Value Add Mixed Use (retail/residential, or office)

  • 11,500 square feet of renovated retail leased space with tenants including Kingsport GellyBall, The Bagel Exchange, and Impressions Fine Art Gallery.

  • The 2nd floor presents a redevelopment opportunity of +/- 8K SF stripped down and ready for transformation into luxury residential lofts.

  • Convenient passenger elevator.

  • Located in a designated Opportunity Zone.

Investment highlights

  • 11,500 SF Redeveloped

  • $62/SF

  • Adjacent to newly constructed 400-space public parking garage

  • Prime Broad and Center Intersection- 20K+ CPD

  • Ideal for mixed-use: restaurant, retail, residential lofts, boutique hotel

  • Detailed original brick facade

  • Historic Architectural Features

  • Grant Opportunities Available

  • Located in a Qualified Opportunity Zone

  • Passanger Elevator

Listing Contacts

JS
TN TN 305457
NAI Koella | RM Moore
LM
TN TN 13164228
NAI Koella | RM Moore
Listed by NAI Koella | RM Moore

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$50,000.00
$4,166.67/mo

Valuation Metrics

0
DSCR
3.18%
Cap Rate
3.18%
ROI

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Additional Information

Name
Justin Sterling
License
TN 305457
Brokerage Address
255 North Peters Road
Name
Lauren Morgan
License
TN 13164228
Brokerage
NAI Koella Moore
Brokerage Phone
865-531-6400
Title
Real Estate Broker
Brokerage Address
255 North Peters Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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