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Blue Ridge Properties Listing
2020 East Center Street, Kingsport, TN 37664 (MLS #9975108)
Basic Information:
Bedrooms: 0
Full Bathrooms: 0
Half Bathrooms: 0
Type: Commercial Sale
Sub Type:
MLS Number: 9975108
Lot Acreage: 0.09000
Living Area: 6,700
Year Built:1920
Elementary School:
Middle School:
High School:
Public Remarks: 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 Courtesy:Greater Impact Realty Jonesborough
More Listing Info:
AC:Window Unit(s): true
Business Type:Residential2: true
Contract Info:Foreclosure: No
Development Status:Other35: true
Electric Service:Other34: true
Exterior Finish:Brick4: true
General Property Description:# Restrooms: 11
General Property Description:Acres: 0.09
General Property Description:Annual Lease: 80400.0
General Property Description:HOA YN: No
General Property Description:Lease: No
General Property Description:Lot Size2: 25 X 145
General Property Description:Stories3: 2.0
General Property Description:Total SqFt Finished: 6700.0
General Property Description:Total SqFt Unfinished: 2100.0
General Property Description:Zoning2: Commercial
Heating:Radiant: true
Info Available:Rental Roles: true
Location Tax Legal Info:Block: 8
Location Tax Legal Info:City Taxes: 1580.26
Location Tax Legal Info:County Taxes: 1902.82
Location Tax Legal Info:Deed Book #: 3456
Location Tax Legal Info:Deed Page #: 899
Location Tax Legal Info:Lot #: P 6
Other Equipment:Basement4: true
Property Condition:Below Average: true
Remarks Misc:Directions3: On I-26 W, take exit 4 for TN-92 S. Continue straight onto Old Wilcox Dr. Continue onto Sheridan Square/S Wilcox Dr. Turn Right onto E Center St. 2020 E Center St will be on the left.
Remarks Misc:Public Remarks2: 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.
Restrictions:Other37: true
Road Access:City Street: true
Roof:Rubber: true
Sale Includes:Other38: true
Sewer:Public Sewer: true
Water:Public: true
