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4006 Memorial Boulevard
Kingsport TN 37664
MLS #9997872 · Listing Courtesy of CENTURY 21 Legacy Fort Henry
$425,000
Active
4,045
Sq Ft
1.28
Acres
1947
Built
Property Description
This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications.
Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management.
Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history.
Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more.
Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.
Property Facts
Property TypeCommercial Sale
MLS Number9997872
City Taxes$1,563.24
County Taxes$1,503.22
Features & Amenities
Interior
Basement
Ceiling Fan(s)
Dumpster
Exterior Lights
Heat Pump
Overhead Doors
Range
Refrigerator
Smoke Detector(s)
Space Heater Heating
Wall Furnace Heating
Window Unit(s)
Exterior
Brick Exterior
City Street
Concrete Exterior
Finished Lot(s)
Metal Roof
Raw Land
Vinyl Siding Exterior
Other
220 Volts
Aerial
Below Average Condition
Electricity Connected
Fee Simple
Floor Plan
Leases
Natural Gas Available
Public Sewer
Public Water
Residential
Sewer Connected
Directions
From the intersection of Hwy 93/John B Dennis Hwy and Hwy 126/Memorial Blvd, travel .6 miles east towards Cooks Valley. Apartments will be on your left, adjacent to Amy Avenue.
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Additional Information
Contract InfoForeclosureNoEasementsNoneYesGeneral Property Description# Parking Spaces15# Restrooms8Annual Lease66,960HOANoLeaseNoLot Size233M X 282M IRR & 75 X 150 IRRLease Price/SqFt16.55Road Frontage Length85Total Finished SqFt4,045Unfinished SqFt1,634ZoningR 4Info AvailableOtherYesLocation Tax Legal InfoBlockADeed Book #3,273Deed Page #320Lot #-1Other EquipmentSee RemarksYesRestrictionsSee RemarksYes
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