237-245 Broad St 22,300 SF 42% Leased Retail Building Kingsport, TN 37660 $2,276,944 CAD ($102.11 CAD/SF)

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.
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 thatis actively expanding its footprint up into the building's mezzanine level. This tenant growth story providesimmediate in-place cash flow from day one alongside near-term upside as the mezzanine is built out andfolded into the lease. An owner-user could continue to collect rent on this space while occupying theupper floors, or an investor can step into a stabilized, expanding ground-floor tenancy in one ofKingsport'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, originalstructural character, and large street-facing windows, the layout is well suited for any of the following:
• Residential loft conversion — urban loft product is in high demand and limited supply acrossDowntown Kingsport
• Office of any kind — creative, professional, medical, co-working, or flagship headquarters build-out
• Retail — boutique, showroom, gallery, or experiential concept leveraging the building's historiccharacter
Cellar — Blank-Canvas Destination Venue
The building includes an expansive, undeveloped cellar — a genuinely rare feature in this market. Thespace is sized and configured for a high-concept destination use, with multiple potential build-outsincluding:
• Music venue / live performance space
• Cigar lounge
• Fine dining
• Indoor golf simulator concept
• Mini bowling
The cellar is accessed today by a stairwell at the rear of the building. In addition, a dedicated woodcarve-out has been framed at the front of the building to accommodate a second staircase descendingdirectly from Broad Street into the cellar level — giving a future operator the option to deliver a truestreet-front entrance to the downstairs venue, separate from the ground-floor tenant.
That direct-from-the-sidewalk access is what unlocks the cellar as a stand-alone destination concept ratherthan back-of-house space.
Qualified Opportunity Zone — Significant Tax Advantages
The property sits inside a federally designated Qualified Opportunity Zone, one of the most powerful tax incentives currently available to real estate investors. 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 capital gains
• Reduction of the deferred gain (depending on holding period)
• Elimination of federal tax on new gains generated by the Opportunity Zone investment if held for 10+ years Buyer should consult their CPA or tax advisor regarding eligibility and current IRS rules.
B-2 Central Business District
Retail & Shopping
Clothing and apparel boutiques, gift and card shops, bookstores, antique and consignment, jewelry, art galleries and artist studios, home goods and furniture showrooms, florists, specialty food retailers
(butcher, bakery, cheese, chocolatier), wine and liquor stores, music and record shops, sporting goods and bike shops, toy and hobby stores, pet supply, cigar/tobacco, novelty and souvenir shops. Golf cart sales were explicitly approved by the Kingsport Board of Zoning Appeals in 2025 as a B-2 principal use.
Food & Drink
Sit-down, fast-casual, ethnic, and fine dining restaurants; cafés, coffee shops, tea houses; bakeries and pastry shops; ice cream, gelato, and frozen yogurt; juice and smoothie bars; delis and sandwich shops; bars, taverns, lounges, and wine bars. The code also expressly permits brewpubs and craft breweries (up to 10,000 SF of production area in commercial zones), craft wineries, and distilleries with tasting rooms —a natural fit for the cellar or ground-floor space. Cat cafés were approved by BZA for the Boops & Beans concept in 2024.
Professional & Office
Law, accounting, and CPA offices; architecture, engineering, and design firms; real estate, insurance, and financial advisory.