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6604 Kingsport Highway

Gray, TN 37615
  • $600,000
  • STATUS: Active
  • ON SITE: 4 days
  • MLS #: 9925835
New On Site 4 Days Ago
UPDATED: 3 min ago
$600,000
  • 0
    BEDS
  • 0.47
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,200
    SQFT
  • $97
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1965
County:

School Ratings & Info

Description

An investment opportunity with options...currently this all-brick complex offers 6 rental units plus an approximately 3,000 sq. ft space that has been used both for retail (restaurant) and office space in the past. Current owners had plans for turning the space back into residential, but the choice is yours!Between the updates throughout and low-maintenance exterior, this one is ready for your investment and will cash flow well. Sit back and let your money work for you! All units are occupied and vacancy rates have been very low.Rents vary from $625 to $800 with room to increase thanks to floorplans and updates. Current income is $4500 (including a $800 allowance for the owner's rent of unit 3). Conservative potential cap rate of 10% with retail space split into two units bringing $800 ea. As a retail space this was bringing significantly more.Rent roll and income statement available.Note: this listing includes both 6602 Kingsport Hwy and 6604 Kingsport Hwy.Please allow minimum of 24 hours notice for all showings.

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© 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-07-25T11:59:49.937.
www.house2homesearch.com/homes/119491919
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6604 Kingsport Highway Gray, TN 37615

  • Price: $600,000
  • Status: Active
  • Updated: 3 min ago
  • MLS #: 9925835
0
Beds
0
Baths
0
½ Baths
0.47
Acres
6,200
SQFT
$97
$/SQFT
1965
Built
Neighborhood:
Gray/Boones Creek
County:
Washington
Area:
Gray/Boones Creek
Property Description
An investment opportunity with options...currently this all-brick complex offers 6 rental units plus an approximately 3,000 sq. ft space that has been used both for retail (restaurant) and office space in the past. Current owners had plans for turning the space back into residential, but the choice is yours!Between the updates throughout and low-maintenance exterior, this one is ready for your investment and will cash flow well. Sit back and let your money work for you! All units are occupied and vacancy rates have been very low.Rents vary from $625 to $800 with room to increase thanks to floorplans and updates. Current income is $4500 (including a $800 allowance for the owner's rent of unit 3). Conservative potential cap rate of 10% with retail space split into two units bringing $800 ea. As a retail space this was bringing significantly more.Rent roll and income statement available.Note: this listing includes both 6602 Kingsport Hwy and 6604 Kingsport Hwy.Please allow minimum of 24 hours notice for all showings.
Exterior Features

Exterior Finish Brick Lot Size 214 X 190 IRR Road Access County RoadHighway Roof Metal

Interior Features

Ac Central Air Heating CentralForced AirHeat Pump Total Sqft Finished 5000.00 Total Sqft Unfinished 1200.00

Property Features

Annual Lease Amount 4500.00 Auction No Business Type Residential City Taxes 0.00 County Taxes 2114.00 Development Status See Remarks Electric Service 220 Volts Existing Finance Conventional Financing CashConventional Foreclosure No Info Available Books AvailableLeasesRental Roles Other Equipment See Remarks Property Condition Above Average Restrictions See Remarks Sale Includes See Remarks Sewer Public Sewer Short Sale No Water Public Zoning B-1

Listing information © 2021 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Scott Henninger of Exp Realty, Llc.



© 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-07-25T11:59:49.937.
 
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Bridge Pointe Real Estate
504 E Jackson Blvd
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