1. Tennessee
  2. Kingsport
  3. 2020 East Center Street
$449,900

2020 East Center Street, Kingsport, TN 37664

  • 6,700 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1920
  • Property Lot Size Icon3,920sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $67/sqft
  • Property List Date Icon Listed 6 months ago

Property Description

Great Investment Opportunity! Discover the charm and potential of this historic building, a proven income-generator with a strong track record as a successful apartment complex. Boasting 100% occupancy nearly year-round and all units currently occupied, this property is a rare find. Formerly known as the Palmer Building, this versatile property boasts a rich history as a pharmacy storefront, medical offices, and more. It offers endless possibilities, whether for office spaces, a restaurant, or any venture you envision. The property features 11 units, generating $6,700 monthly or $80,400 annually. These include one 2-bedroom, 1-bath unit and ten 1-bedroom, 1-bath units, totaling 12 bedrooms and 11 bathrooms. Located within walking distance of Dobyns-Bennett High School and just minutes from East Stone Drive's amenities, the property combines convenience with an unbeatable location. The owner pays utilities and there are no HOA or CAM fees. This property offers excellent cash flow, with the potential for even greater returns with some TLC. Whether you're expanding your portfolio or launching a new endeavor, this is an opportunity you won't want to miss. Rent rolls and expenses are available upon request.

Listing Status:
Active
Date Added:
January 17, 2025 at 06:00AM
Listing Office:
Greater Impact Realty Jonesborough : 423-973-8634
Listing Agent:
Matt Fleenor : 423-973-8634
MLS ID:
9975108
  • A/C: Window Unit(s)
  • Heating: Radiant

This listing courtesy of Matt Fleenor, Greater Impact Realty Jonesborough

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

T

Thomas Jefferson Elementary School

2216 Westmoreland Ave, Kingsport, TN, 37664

Grades PK-5

0.19 miles away

R

Ross N. Robinson Middle School

1517 Jessee St, Kingsport, TN, 37664

Grades 6-8

0.41 miles away

D

Dobyns-Bennett High School

1 Tribe Way, Kingsport, TN, 37664

Grades 9-12

0.27 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.