Downtown Location | Mixed-Use | Urban Loft 152-156 Broad Street

SVN | Accel Commercial Real Estate, in tandem with Ten-X, is pleased to offer this 14,125-square-foot mixed-use asset primed for redevelopment and centrally located in Downtown Kingsport’s large Opportunity Zone (attention ALL capital gains).

The old saying, \"They don't make them like they used to\" is certainly true of this beautiful architectural gem that presents investors with a rare value-add opportunity at well below replacement cost. In this era of high construction costs, interest rates, and inflation, this is your chance to save significant capital on the front end, buying it for less than you could build it new.

The iconic architectural aesthetic & integrity of this cornerstone building exemplify a bygone era that many investors are taking note of in Southeast communities such as Asheville, NC, Greenville, SC, and Chattanooga, TN. Downtown Kingsport, \"the largest planned city in the U.S. between 1915 and 1965\", boasts a perfectly designed grid system with wide streets and sidewalks, strategic roundabouts, excellent alleys for key infrastructure, ample free parking, and beautiful streetscapes.

This prime corner building has the perfect character and architecture for upscale urban lofts. The eye-popping historical exterior details are complemented by the interior exposed brick arches, detailed woodwork, and a second floor wrapped in large windows. Additionally, the exterior and interior structural walls are 3-bricks thick (14\" total), not only providing a solid foundation but also allowing brick walls to be showcased for aesthetic appeal.

Three large retail storefronts approximately 2,500SF each, present open layouts perfect for revitalization with brick walls on all sides, solid continuously poured concrete slab, and original pressed tin ceiling throughout. Not only do these spaces possess inherent detail and character, the value of the existing structure allows for a more economical restoration of the building. The result is a unique finished product that is perfect for a variety of commercial tenants with significant potential for a solid ROI.

The Appalachian Highlands region is breathtakingly beautiful. Kingsport, a significant urban center of this region, is an emerging secondary market in the heart of the booming Southeast. Positioned less than 10 minutes from the Tennessee-Virginia state border and 40 minutes from the TN-North Carolina border, Kingsport is accessibly located within a day's-drive of 70% of the U.S. population at the intersection of I-81 & I-26 in the Northeast corner of Tennessee - one of the most business-friendly states in the nation. This region is strategically positioned to be THE hub for ecotourism and outdoor recreation in the Southeast, surrounded by established and well-funded tourist destinations such as the Smokies, W. North Carolina, and SW Virginia.

Kingsport, despite its modest size, is experiencing remarkable growth, making it an attractive destination for investment. The area surrounding 152 Broad Street has seen its population expand by an impressive 2.5% annually since 2020—more than double the national average. This robust growth trend is projected to continue throughout the decade. Alongside population growth, consumer spending has surged, with $57.4 million spent within a 1-mile radius of the property in 2023. This combination of rising population and consumer demand highlights Kingsport’s promising economic trajectory, positioning it as a prime location for outside investment.

The City of Kingsport has continued to focus on rejuvenating its downtown area alongside the increased interest and development in the entire region. The Appalachian Highlands/ Tri-Cities Region is regarded as one of the top places to reside in the nation. Residents of Downtown Kingsport enjoy an urban atmosphere surrounded by abundant outdoor recreation, a perfect combination that boasts numerous bars, restaurants, coffee shops, parks, rivers and trails for its residents to enjoy.

The city’s government has significantly invested millions into its Downtown infrastructure and streetscapes. Additionally, the City offers many economic incentives that future owners of 152 Broad Street can utilize upon purchase. These programs include the Façade Program and Redevelopment Program, both of which are grant programs that encourage the revitalization of Kingsport’s downtown properties. The locality also offers the Downtown Kingsport Loan Program, which provides financial opportunities for small business owners, property owners, or investors to purchase or renovate a downtown property or to purchase equipment for the direct purpose of business creation, expansion, or retention.

Individuals with capital gains from non-real estate assets (CRYPTO, stocks, business sales) who are seeking tax-advantaged investment options should strongly consider Opportunity Zones (OZs). While these investors are unable to leverage Section 1031 like real estate investors, OZs, governed by Section 1400Z of the IRS Code, provide a unique opportunity for these individuals to defer, reduce, or eliminate capital gains taxes by reinvesting in qualifying real estate or business assets, such as this property.

Located in one of the most favorable Opportunity Zones in the Southeast, this architectural gem presents one of the best mixed-use development opportunities for urban redevelopment. The OZ Program is a government-backed incentive that offers significant tax advantages for investors under the federal Tax Cuts and Jobs Act of 2017. This innovative community redevelopment program incentivizes investment in select areas by providing substantial capital gains deferral and tax savings, which grow more lucrative the longer the investment is held. For investors seeking both tax mitigation and financial growth, this location presents a unique opportunity to maximize returns while contributing to Kingsport's ongoing revitalization and economic expansion.

This prime corner building, with its classic brick façade and solid masonry structure, is perfectly positioned for revitalization and offers an exceptional opportunity for urban loft development. Future residents will enjoy a distinctive living experience in Downtown Kingsport, a vibrant, accessible area close to major employers and abundant amenities. Within walking distance are multiple bus stops and the Kingsport Area Transit System hub, providing seamless access to key employers, including Eastman Chemical Co. Global HQ (1 mile), Ballad Health and Holston Medical Group (0.8 mile), Domtar (0.4 mile), and BAE Systems (5 miles).