Listed by NAI Koella | RM Moore
$8,768,000
Downtown Kingsport Opportunity Zone Investment Portfolio
Details
Property Type Mixed Use
Sub Type retail
Square Footage 111,798
Tenancy Multi
Lease Type Modified
Price per SqFt $78
Broker Co-Op Yes
Zoning CBD - B2
Mixed use - Investment Portfolio - Kingsport, TN
Marketing description
An unparalleled investment opportunity in the heart of the Southeast, centrally located in Downtown Kingsport.
Driven by market expansion, investors are poised to capture value from market growth, expanding consumer amenities, and invest in a historic revitalization. Investors have the opportunity to renovate and lease up at a very attractive cap rate or convert the building into condos and sell them individually as there is a limited supply of renovated condos in the area with outpaced demand.
The existing buildings possess iconic historic architectural features, exemplifying a Bygone Era. Features include exterior details such as original pressed tin ceilings, exposed brick walls, and high ceilings, providing a strong foundation for unique developments.
Investment highlights
- Historic mixed-use buildings with notable architectural character.
- Tenant types include residential, retail shops, restaurants, entertainment venues, distilleries, salons, and more.
- Downtown Kingsport thrives with a diverse mix of restaurants (from casual to sushi), antique shops, boutiques, art
- galleries, live music venues, theaters, cigar lounge, and breweries.
- Positioned for redevelopment and economic growth being in an Opportunity Zone.
- Value Add Investment within an Opportunity Zone
- Attractive Cap Rate
- Iconic Architectural Aesthetic and Integrity
- Beautiful historic details
- Surrounded by free public parking
- Substantial tax advantages: capital gains deferral and potential tax-free growth.
- Positioned in the “Model City,” central to major regional markets and outdoor destinations.
- Adaptive reuse strategy offers high upside at a lower cost than new construction.
- Rising property values reflect early-stage growth similar to Knoxville and Asheville.
- Ideal entry point into Kingsport’s revitalized healthcare and materials innovation hub.
- Distinctive architectural character: pressed tin ceilings, tall windows, exposed brick.
Listing Contacts
Listed by NAI Koella | RM Moore
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