From Cellar Entertainment Hub to Loft/Office Redevelopment
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 that is actively expanding its footprint up into the building's mezzanine level. This tenant growth story provides immediate in-place cash flow from day one alongside near-term upside as the mezzanine is built out and folded into the lease.
An owner-user could continue to collect rent on this space while occupying the upper floors, or an investor can step into a stabilized, expanding ground-floor tenancy in one of Kingsport's most active retail corridors.
Third Floor — Redevelopment-Ready Canvas
The vacant top floor has been stripped down and is ready for redevelopment. With exposed brick, original structural character, and large street-facing windows, the layout is well suited for:
- Residential loft conversion — urban loft product is in high demand and limited supply across Downtown 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 historic character
Cellar — Blank-Canvas Destination Venue
The building includes an expansive, undeveloped cellar — a genuinely rare feature in this market. The space is sized and configured for a high-concept destination use, with multiple potential build-outs including:
- 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 wood carve-out has been framed at the front of the building to accommodate a second staircase descending directly from Broad Street into the cellar level — giving a future operator the option to deliver a true street-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 rather than back-of-house space.
Downtown Parking — 1,800+ Public Spaces
1,800+ public parking spaces in Downtown Kingsport — nearby 364-space garage, 3-minute walk (~100 yards away).
Kingsport Market — Tight Fundamentals, Construction-Cost Advantage
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.
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.
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.
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, and the City's Redevelopment Grant and Downtown Loan programs — projects achieve a superior basis and stronger risk-adjusted returns.
| Multifamily Construction Cost Comparison | ||
|---|---|---|
| City | Cost to Build ($/sq ft, hard cost) | Cost to Build per Unit (1,000 sq ft) |
| Kingsport | $175 | $175,000 |
| Chattanooga | $200 | $200,000 |
| Knoxville | $210 | $210,000 |
| Nashville | $245 | $245,000 |
| Asheville, NC | $235 | $235,000 |
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.
Downtown Kingsport Incentives
Beyond the Opportunity Zone, the property's location inside Kingsport's Central Business District makes it eligible for additional local incentive programs, which may include the Façade Grant Program, Redevelopment Grant Program, and Downtown Kingsport Loan Program — designed to help offset the cost of purchase, renovation, and facade improvements.
B-2 Central Business District — Exceptionally Broad Permitted Uses
The building sits inside Kingsport's B-2 Central Business District, the city's most flexible and use-permissive commercial zone. Permitted principal uses include — but are far from limited to — the following, making this property suitable for a wide range of tenant mixes or owner-user concepts:
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; banks and credit unions; medical, dental, optometry, chiropractic, and physical therapy; mental health and counseling; tax preparation; marketing, advertising, and PR agencies; software and tech startups; co-working spaces; nonprofit and association offices; small accessory data centers.
Personal Services
Hair and nail salons, barbershops, day spas, massage therapy, tanning, tailoring and alterations, dry cleaners and laundromats, shoe repair, tattoo and piercing studios.
Entertainment, Culture, & Recreation
Movie and performing-arts theaters, music venues and concert halls, dance/yoga/pilates studios, indoor fitness and gyms, martial arts, art classes and maker studios, escape rooms, arcades, museums, galleries, event venues and banquet halls, private clubs.
Lodging
Hotels, boutique hotels, and bed & breakfasts.
Residential
Residential uses permitted (except single-family detached dwellings) — supporting the top-floor loft-conversion play.
Retail + Office + Service Hybrids
Plumbing/HVAC showroom + office, electrical contractor with counter sales, appliance and kitchen/bath showrooms, flooring and window/door companies, printing and sign shops, commercial/ghost kitchens, tech repair, light indoor fabrication, AV/low-voltage, security, and fire protection system companies.
Location & Parking
Location Highlights
- Prime Broad Street frontage in the core of Downtown Kingsport
- 53' of continuous storefront exposure on the city's primary retail corridor
- Surrounded by regional and national operators including Starbucks, Food City, Beef 'O' Brady's, Truist, First Horizon Bank, Regions Bank, HomeTrust Bank, and CrossFit
- Public parking nearby — 1,800+ public spaces in Downtown Kingsport
- Exceptionally drivable location with fairly walkable and bikeable access within the downtown core
- ±22,300 SF historic landmark on Broad Street
- Rare three-story plus mezzanine configuration with cellar level — unmatched flexibility downtown
- Qualified Opportunity Zone — significant federal tax advantages available
- Ground floor leased to Shooter's Billiards with active expansion into the mezzanine — in-place income plus tenant growth
- Vacant, redevelopment-ready top floor — residential loft, office of any kind, or retail
- Expansive undeveloped cellar — music venue, cigar lounge, fine dining, indoor golf, or mini bowling potential
- Cellar accessed via rear stairwell, with a framed wood carve-out at the front of the building ready for a dedicated street-front staircase to the lower level
- Art Deco facade with partially redeveloped historic interior finishes: exposed brick, steel joists, Terrazzo, hardwood
- B-2 Central Business District — one of Kingsport's most flexible zoning classifications
- Eligible for downtown façade, redevelopment, and loan incentive programs
- Investment or owner-user sale
Regional Reach
- Dollywood (Pigeon Forge) — roughly 1 hour 34 minutes by car
- Smoky Mountains National Park (North Entrance) — 90 miles
- 5 Minutes to Trout Fishing on the Holston River
Floor Plans
Property Snapshot
- Address
- 237 - 245 Broad St., Kingsport, TN 37660
- Property Type
- Historic Downtown Mixed-Use — Retail + Office + Entertainment / Redevelopment
- Building Size
- ±22,300 SF across three stories plus mezzanine, with expansive cellar level below
- Frontage
- 53' of continuous frontage on Broad Street
- Ground Floor
- Leased to Shooter's Billiards (expanding into mezzanine)
- Top Floor
- Vacant, stripped, redevelopment-ready — residential loft, office, or retail
- Cellar
- Undeveloped — music venue, cigar lounge, fine dining, indoor golf, mini bowling, etc. (framing in place for dedicated street-front stair)
- Zoning
- B-2 Central Business District (City of Kingsport) — one of the city's most permissive commercial zones
- Tax Status
- Qualified Opportunity Zone (federally designated)
- Incentives
- Eligible for Façade Grant, Redevelopment Grant, and Downtown Kingsport Loan Program
- Historic Character
- Art Deco facade; exposed brick, steel joists, Terrazzo floors, original hardwood
- Sale Type
- Investment or Owner-User
- Sale Price
- $1,659,000
Location & Demographics
| Population | 0.25 mi | 0.5 mi | 1 mi |
|---|---|---|---|
| Total Population | 450 | 1,395 | 5,140 |
| Average Age | 43.0 | 39.8 | 36.8 |
| Total Households | 230 | 662 | 2,294 |
| Average HH Income | $71,413 | $66,224 | $57,719 |
| Average House Value | $175,235 | $173,247 | $183,986 |
Source: 2023 American Community Survey (ACS)
Other Possible Uses
Beyond the uses outlined above, Kingsport's B-2 Central Business District is one of the most permissive commercial classifications in the city, designed to welcome a wide mix of tenant concepts. The categories below are illustrative of the broader universe of uses a buyer or tenant could explore at 237–245 Broad — particularly given the building's 22,300 SF footprint, three-story-plus-mezzanine configuration, prominent storefront frontage, and rare cellar level.
Government & Civic Offices
Federal, state, county, and municipal office space — including U.S. Post Office and USPS retail, Social Security Administration (SSA) field offices, U.S. Department of Veterans Affairs (VA) clinics and benefits offices, IRS taxpayer assistance centers, USDA service centers, U.S. Census Bureau offices, Department of Labor / workforce development and career centers, military recruiting stations, congressional and U.S. Senate district offices; Tennessee Department of Human Services, Health, Safety / driver services (DMV), Revenue, TBI satellite offices; Sullivan County clerk, register of deeds, trustee, assessor, election commission, juvenile services, probation/parole, and child support satellite offices; City of Kingsport administrative annex, planning & zoning, code enforcement, economic development, public works, parks & recreation, and public library branch space; courthouse annex, public defender, district attorney satellite, and mediation/arbitration offices; chamber of commerce, visitor center, Main Street program offices.
Healthcare, Wellness & Medical Services
Urgent care, primary care, pediatric and women's health clinics, dental and orthodontic, optometry and vision, dermatology, ENT, allergy, audiology, physical and occupational therapy, sports medicine and rehabilitation, dialysis centers, imaging and diagnostic labs, blood donation centers, behavioral health and counseling, substance use treatment, telehealth hubs, med spa and aesthetics.
Childcare & Family Services
Licensed daycare, preschools, Montessori and learning centers, after-school enrichment programs, family resource centers, adoption and foster-support agencies.
Maker, Creative & Media Production
Maker spaces and shared shop bays, woodworking and metal-fabrication studios, podcast and recording studios, photography and videography studios, film and content production, graphic design and creative agencies.
Financial Services
Bank branches and credit union locations, ATM lobbies, mortgage and lending offices, tax preparation, wealth management, family offices, fintech storefronts.
Entertainment, Culture & Recreation (Expanded)
Movie theaters, performing arts and music venues, comedy clubs, dance/yoga/pilates/barre studios, fitness centers, CrossFit boxes, martial arts and boxing gyms, escape rooms, arcades, virtual-reality and immersive experience venues, golf simulators, axe-throwing, bowling alleys, mini bowling, billiards/pool halls, rock climbing walls, tactical/defensive training facilities, gaming and esports venues, museums, galleries, event and banquet venues, private clubs, speakeasy and lounge concepts, cigar lounges.
Lodging & Residential-Style Uses (Expanded)
Boutique hotels, bed & breakfasts, short-term and extended-stay rentals, urban lofts, corporate housing, furnished executive suites, hostel-style or themed lodging concepts.
Education & Instruction (Expanded)
Tutoring centers, test-prep, language schools, music/art/dance instruction, coding bootcamps, indoor trade and vocational schools, culinary schools, continuing education and professional certification, charter or micro-school satellite locations.
Light Trade, Industrial & Specialty Uses
Plumbing/HVAC, electrical, flooring, kitchen & bath, appliance, window & door showrooms; printing and sign shops; tech repair; AV/low-voltage, security and fire-protection contractors; light indoor fabrication; small accessory data centers; secure asset storage (exotic/vintage vehicles, precious metals, financial assets, art, and other high-value assets).
Contact the Listing Agent
Carson Lee Jones
eXp Commercial
carson.jones@expcommercial.com
Serious inquiries only — tours available upon request.
eXp Commercial, LLC, its direct and indirect parents and their subsidiaries (together, "We") obtained the information above from sources believed to be reliable, however, We have not verified its accuracy and make no guarantee, warranty or representation, expressed or implied, about such information. The information contained above is submitted subject to the possibility of errors, omissions, price changes, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. Any projections, opinions, assumptions or estimates of the information contained above or provided in connection therewith, either expressed or implied, are for example only, and they may not represent current or future performance of the subject property. You, together with your tax and legal advisors, should conduct your own thorough investigation of the subject property and potential investment. Prospective purchasers should verify all square footage, zoning compliance, Opportunity Zone boundaries, incentive program eligibility, and permitted uses with the appropriate authorities and their own professional advisors.
Downtown Kingsport
Parking & Access
Downtown Kingsport carries 1,800+ free public parking spaces, including a 364-space parking garage roughly a 3-minute walk (~250 yards) from the property.
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