Move-In Ready Office & Co-Working Space in Downtown
Progress Building| 26,000 SqFt
Marketing description
The Progress Building at 247 Broad Street — offers move-in ready office space on Kingsport's revitalized Broad Street corridor, available for sale. Unlike value-add projects that require months of build-out, this property is positioned for immediate purchase: ideal for a medical office, law firm, dental practice, technology office, or coworking operator seeking a prominent downtown address. With $50,000+ in local grants available, the property is a compelling opportunity for owner-users and investors alike.
Steady Growth Without the Boom-Bust Risk
Kingsport's steady, measured growth is its quiet advantage. Fast-growing markets like Nashville often overbuild during boom cycles and pay for it in vacancy spikes. Kingsport doesn't carry that risk. Commercial fundamentals here are unusually tight across every sector — Office at 4.0% vacancy, Retail at 1.5%, and Multifamily at 5.6%, all outperforming national averages.
What makes this property a rare opportunity is the location: the historic core of downtown, where the inventory is finite and effectively irreplaceable. You can't build more historic buildings, and the city isn't adding new ones to the downtown center anytime soon.
The property sits inside Kingsport's Central Business District — a TIF District, PILOT District, federally designated Qualified Opportunity Zone, and Tennessee Main Street area — making it eligible for the City's Façade Grant, Redevelopment Grant, and Downtown Kingsport Loan programs.
Investment highlights
- Medical & Dental Office — urgent care, primary care, dental and orthodontic, optometry, dermatology, physical therapy, behavioral health and counseling, telehealth hubs, med spa and aesthetics.
- Law Office — law, accounting and CPA, title and escrow, court reporting, mediation and arbitration offices, and other professional practices seeking a prestigious downtown address near civic and county offices.
- Technology Office — software and tech startups, IT managed services, cybersecurity firms, AI and data consultancies, creative and media agencies, and small accessory data center uses.
- Coworking & Executive Suites — coworking spaces, business incubators and accelerators, and furnished executive suite concepts serving downtown Kingsport's growing professional community.
- Financial & Professional Services — banking, mortgage and lending, insurance, real estate, financial advisory, wealth management, and marketing/PR agencies.
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