201 Center St

Investment Highlights

High Flow Traffic Area Muti-use building Great Investment Zone

Executive Summary

Amazing investment / purchase opportunity in downtown Kingsport.We are looking for a partner for a significant expansion to our current business, or potential buyer for our turnkey business and associated property. Kingsport, TN is one of the top cities in Tennessee with new growth and new developments. It currently has over 500 residential development properties within 1/2 mile from this business location. This business is located in the heart of downtown Kingsport - on one of the busiest streets in the city. Recently, our downtown has become home to multiple new businesses, commercial development, and opportunities.InvestorsWe have currently built out the lower level of this 10,000sqft commercial space. It host a thriving business utilizing the 5,000sqft lower level. The upstairs is currently being used as event rental space with an additional 5,000sqft. We would like to partner on the opportunity to open up a second floor, open-air concept, and an additional roof-top concept. Both of these will create beautiful spaces to provide something unique and inviting for people living or visiting downtown Kingsport. Partner will share 50/50 ownership. $950,000 - qualified investors onlyBuyers10,000 sq/ft commercial real-estate, with turnkey business. We are hoping to find a buyer interested in continuing this business?quoted by many to be, ?exactly what downtown Kingsport needs!? The current business model includes event rental bookings and a busy cocktail lounge for drinks, food, and entertainment. This remains a prime piece of property for other development (loft apartments, retail, offices, etc.) but our hope is for someone to maintain/grow the current business model. $1,425,000 (turnkey business + property) - qualified buyers only. Owner is willing to consider financing up to 50% at subprime rate.www.kingsportreserve.comFB/IG @KPTreserveMore about the area:- Brickyard Village Development broke ground on a 450+ residential development spearheaded by Edens investments. Located within 1/4 mile of this investment property.- Spring 2025 welcomes a new Rural King and a new IMAX Theatre. Less than 2 miles away.- Multiple other area developments are underway as well.#7: Kingsport, TN - Trying to figure out if you want to move to Kingsport, TN? Kingsport is a city worth considering because of its rich history and natural scenic beauty. It has a population of around 55,600, seeing a 4% increase since 2017. [Kingsport is also known for it?s schools - specifically Dobyn?s Bennett High School noted as one of the state?s top schools with State Champions in Basketball (2022), Track, Softball, Band and many more.] Wondering what to do in Kingsport, TN? There are many things from relaxing at Bays Mountain Park & Planetarium, Borden Park, and Centennial Park to grabbing a quick bite at Riverfront Seafood Co, The Shack, or Nick?s Family Restaurant. Also, be sure to catch a show at Renaissance Arts Center & Theatre or The LampLight Theatre https://www.redfin.com/blog/fastest-growing-cities-in-tennessee/

• Sale Type    Investment or Owner User
• Sale Condition    Business Value Included
• Property Type    Retail
• Property Subtype    Bar Bar General Retail Storefront Retail/Residential Bar
• Building Size    10,000
• Building Class    B
• Year Built    1971
• Price    1,425,000
• Price Per SF    143
• Business Value    330,000
• Percent Leased    100
• Tenancy    Multiple
• Building Height    2 Stories
• Loading Docks    1 Exterior
• Building FAR    1.91
• Land Acres    0.12 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

• Signalized Intersection