237-245 Broad Street

Rare Three Story Building Plus Mezzaninine with Tenant Growth. A rare large-format downtown asset in the heart of Kingsport's revitalized Broad Street corridor. One of the most substantial single-building opportunities available in Downtown Kingsport, approximately 22, 300 square feet across three stories plus mezzanine, with an expansive cellar level below. Situated in an opportunity zone and $50, 000+ in grants available, make this a unique opportunity for investors. The first-floor and mezzanine spaces provide strong in-place cash flow with a highly attractive basis, offering investors tenant diversification, value-add upside, and potential Opportunity Zone tax advantages—positioning the property as a compelling alternative to comparable investments 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. Kingsport buying power per dollar of retail rent is 10% to 24% higher than Knoxville, Nashville, and Asheville, NC. This metric is critical: rent is ultimately funded by tenant revenue, which is directly tied to the purchasing power of the surrounding population. In Kingsport, that relationship is more favorable. The same construction-cost advantage shown for multifamily holds true for retail and remodel work. Kingsport hard costs run meaningfully below peer markets across the board, and when paired with incentives — Opportunity Zone tax advantages, façade improvement grants of up to $50, 000, and the City’s Redevelopment Grant and Downtown Loan programs — projects achieve a superior basis and stronger risk-adjusted returns. The property features 53 feet of continuous frontage on Broad Street, and a mix of character-rich original detail: exposed brick walls, prominent steel joists, Terrazzo floors, original hardwood, and street-facing windows that flood the interior with natural light. Portions of the building have been thoughtfully redeveloped to preserve these historic elements while modernizing the usable space. The vacant top floor has been stripped down and is ready for redevelopment.