237-245 Broad Street
237 - 245 Broad Street | Kingsport, TN 37660, US
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Three Distinct Value Opportunities Under One Roof Ground Floor + Mezzanine — In-Place Income with Tenant Growth The first floor is leased to Shooter’s Billiards, a growing, well-trafficked downtown destination tenant actively expanding its footprint up into the building’s mezzanine. This provides immediate in-place cash flow alongside near-term upside as the mezzanine is built out and folded into the lease. An owner-user could continue collecting rent here while occupying the upper floors, or an investor can step into a stabilized, expanding ground-floor tenancy in one of Kingsport’s most active retail corridors. Top Floor — Redevelopment-Ready Canvas The vacant top floor has been stripped down and is ready for redevelopment. With exposed brick, original structural character, and large street-facing windows, it is well suited for residential loft conversion (urban loft product is in high demand and limited supply downtown), office of any kind (creative, professional, medical, co-working, or flagship HQ), or retail (boutique, showroom, gallery, or experiential concept leveraging the building’s historic character). Cellar — Blank-Canvas Destination Venue An expansive, undeveloped cellar — a genuinely rare feature in this market — is sized for a high-concept destination use: music or live performance venue, cigar lounge, fine dining, indoor golf simulator, or mini bowling. The cellar is accessed today by a rear stairwell, and a wood carve-out has been framed at the front of the building for a second staircase descending directly from Broad Street into the cellar — giving a future operator a true street-front entrance separate from the ground-floor tenant. That direct-from-sidewalk access unlocks the cellar as a stand-alone destination concept rather than back-of-house space. Qualified Opportunity Zone — Significant Tax Advantages The property sits inside a federally designated Qualified Opportunity Zone. Investors who roll capital gains into a Qualified Opportunity Fund that acquires and substantially improves property in the zone may be eligible for deferral of federal tax on the rolled-in gains, reduction of the deferred gain (depending on holding period), and elimination of federal tax on new gains if held 10+ years. Buyer should consult their CPA or tax advisor regarding eligibility and current IRS rules. B-2 Central Business District — Exceptionally Broad Permitted Use List The building sits inside Kingsport’s B-2 Central Business District, the city’s most flexible commercial zone. Permitted principal uses span retail and shopping; food & drink (including brewpubs, craft breweries up to 10, 000 SF, and distilleries with tasting rooms); professional & office (legal, medical, financial, tech, co-working, nonprofit); personal services; entertainment, culture & recreation (theaters, music venues, studios, fitness, arcades, museums, event venues); lodging; education & instruction; residential uses (except single-family detached, supporting the top-floor loft play); and retail/office/service hybrids. overnment or Government Services Federal, state, county, and municipal office space is also a strong fit for the building given its scale, configuration, and Broad Street prominence. Downtown Kingsport Incentives Beyond the Opportunity Zone, the property’s CBD location makes it eligible for additional local programs, which may include the Façade Grant Program, Redevelopment Grant Program, and Downtown Kingsport Loan Program — designed to offset purchase, renovation, and façade costs. Buyer to verify program availability and eligibility with the City of Kingsport and Downtown Kingsport Association.
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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.