Property Description

Unique investment opportunity now on the market! Two-story mixed-use building with 50 feet of road frontage on East Sullivan in Downtown Kingsport. This 1940's brick building has been updated, and beautifully maintained, has street grade retail, service, or office possibilities on level one, with level two being a home or apartment that includes privacy fencing, a pool, and a yard with outbuilding. Site can be rented out, used by an owner operator, or solely for passive income. Signage is allowed on building, with high visibility and high traffic counts right near downtown Kingsport. Street level first floor store front is 1690 sq ft. Has one bathroom, one large office or conference room in rear, storage, two offices and large reception or retail area, along with washer dryer hook up.Upstairs apartment is approx. 1508 sq ft, 2 or 3 bedroom house with living area, exposed brick walls, a walk in closet, one full bathroom, appliances, copper sink, barn doors at the washer dryer, large exterior patio, yard, and pool. Use upstairs tenant to offset your mortgage for your business, or live upstairs and rent out the bottom. The versatility of these units makes it a possible for any savvy investor! Cap rate: 7.95%. $30,000 gross rents/year

Property Features