10% Cap Rate - 1031 Exchange - 100% Leased 217 Broad St 7,294 SF 100% Leased Retail Building Kingsport, TN 37660 $870,933 CAD ($119.40 CAD/SF) 10% Cap Rate

Stabilized, fully leased commercial space in the historic core of Downtown Kingsport. The first floor of 217 Broad Street offers ±4,621 square feet of street-level commercial space, 100% occupied by six established tenants, in a beautifully renovated 1920 building on Kingsport's revitalized Broad Street corridor. High-end residential lofts occupy the second and third floors above, putting a built-in customer base directly on top of the storefronts. Unlike value-add projects that require lease-up, build-out, or repositioning, this property produces strong, diversified, stable cash flow from day one — collect rent from the first month of ownership.
Rent roll and full financials are available upon execution of a confidentiality agreement (NDA)
Current Tenants:
- HBZ Sports Cards — Regional destination for sports cards and collectibles; its e-commerce arm, Times Digital Group, operates the online store from the same location, extending sales well beyond foot traffic.
- Boomtown & Co. — Boutique gift, apparel, and lifestyle retailer with a strong regional following and active downtown presence.
- Sneaks & Geeks — Video games, sneakers, and collectible merchandise with an established repeat-customer base.
- Mane on Broad — Full-service hair salon with sticky clientele and recurring monthly revenue.
- Lindsi Lashes — Eyelash and esthetics studio serving loyal repeat clients.
- Shakti's Touch Massage & Bodywork — Licensed massage and wellness practice with consistent appointment-based demand.

Retail destination, boutique shopping, entertainment and collectibles, personal services, beauty, wellness, and online commerce — that diversity reduces reliance on any single industry and creates multiple reasons for people to visit the block every day.
Why Kingsport — Steady Growth Without the Boom-Bust Risk
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.
Residential Lofts Above — A Built-In Customer Base
The second and third floors of 217 Broad Street are high-end residential lofts, placing residents — and their daily spending — directly above the storefronts. This mixed-use dynamic is exactly what downtown Kingsport's momentum is built on: over 1,200 residential permits issued in the last five years have added approximately 2,500 new residential units downtown and nearby, a growing built-in customer base for street-level retail and services on Broad Street.
Zoning: B-2 — Central Business District (CBD)
The property is located within the heart of Downtown Kingsport's B-2 Central Business District, one of the city's most flexible commercial zoning districts. B-2 is intended to encourage a vibrant, pedestrian-oriented downtown by allowing a broad mix of commercial, office, retail, restaurant, entertainment, residential, and mixed-use development. Permitted and commonly supported uses include retail storefronts, professional and medical offices, restaurants and coffee shops, personal service businesses, creative office and coworking space, entertainment venues, and multifamily/upper-floor residential conversions. The district is designed to support higher-density urban development while preserving the character of Downtown Kingsport — existing infrastructure, walkability, public parking, and nearby civic amenities make the location well suited for long-term investment.

Diverse, Fully Leased Street-Level Tenant Mix
The first floor is occupied by a complementary mix of retail, personal service, wellness, and e-commerce tenants that generate consistent pedestrian activity throughout the day. The roster spans destination retail, boutique shopping, salon and beauty services, and massage therapy — creating a well-balanced income stream with limited concentration risk. No single industry dominates the rent roll, and the service tenants bring the kind of sticky, appointment-based clientele and recurring revenue that keep occupancy resilient through market cycles.
Ideal 1031 Exchange Replacement Property
Fully renovated, 100% occupied, and income-producing from day one, this property is an excellent 1031 exchange replacement asset. With a diversified rent roll and no lease-up or renovation risk, it offers a stable, low-friction acquisition for exchange buyers. Buyers should consult their qualified intermediary and tax advisor regarding 1031 requirements.