Sobels Building Redevelopment Opportunity!

Retail-Commercial for Sale
Catylist Listing ID: 30815389
Building Size (RSF): 13,533 SF
Gross Building Area: See Agent
Gross Land Area: 0.12 Acres
Sale Price: $425,000
Unit Price: $31.40 PSF
Ceiling: 20 ft.
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Sobels Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/22/2022

Overview / Comments

SVN Wood Properties is pleased to present the redevelopment opportunity of the historic Sobels Building in Downtown Kingsport Tennessee. Sobel's was a renowned fine men's clothier in East Tennessee and operated at this location until January 2000. More historic information is available at kingsportlibrary.org. The Downtown area is rapidly growing and Kingsport was recently ranked 29th on Wall Street Journal and Realtor.com's study of emerging housing markets. Neighboring Johnson City was also ranked 3rd on the list.

The subject property contains a basement and two stories of development ready shell space. There are stairs in the rear of the building to all three floors and an elevator that can be operable with some maintenance. The street level is prime for two separate retail spaces or one large bar/restaurant entertainment space. Both sides of the ground floor have high ceilings with stairs up to a small mezzanine. The upper floor is roughly 4600 square feet and is Ideal for 4 to 6 one or two bedroom apartment units.

Attachments & Media

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 082046IE01300
Zoning: B2
Area Description: This property is located in the heart of downtown Kingsport, TN on the corner of the 200 block of Center Street and Commerce. The property is only two blocks south of Church Circle. It sits less than two miles from the Eastman Chemical plant and the I-26 exit at Stone Drive.
Number of Stories: 3
Typical SF / Floor: 4,600 SF
Year Built: 1948

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,531 40,259 67,781
Median Age: 39.08 43.38 43.63
Households: 2,411 17,961 29,709

Contact

Photograph of Listing Agent

Matthew Strother

SVN I Wood Properties KAAR CIE Member
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