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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
7654114
7654116

1526 E Stone Dr, Kingsport, TN 37660 For Sale

GP
TN TN 326486, VA VA 0225224327
TCI Group – Jerry Petzoldt Agency LLC
Listed by TCI Group – Jerry Petzoldt Agency LLC
$699,000
1457 days on market
Updated 6 days ago

Prime Stone Drive Retail Investment Property

Details
APN 082046LB01010
Property Type Retail
Sub Type Storefront
Square Footage 2,210
Net Rentable (SqFt) 2,210
Cap Rate 6.32%
NOI $44,200
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 7
Remaining Term 7
Lease Options ONE 5-YEAR WITH 10% RENT INCREASE
Price per SqFt $316
Year Built 1982
Year Renovated 2022
Buildings 1
Stories 1
Acreage 0.330
Zoning B-3
Investment Type Net Lease
Lease Commencement 04/30/2022
Occupancy Date 04/30/2022
Ground Lease No
Ownership fee simple

REDUCED - Attention Investors! Newly updated commercial property with 7-year initial term

Marketing description

Value-Adjusted Pricing | Investment Opportunity

Now is an excellent time to consider this quality NNN investment property featuring a proven long-term tenant in one of Kingsport's busiest commercial corridors.

Property Highlights:

• Newly renovated 2,210 SF commercial building

• Long-term tenant: Apotheca, a leading regional CBD and plant medicine dispensary

• Initial 7-year NNN lease commenced in May 2022

• Well-established business with multiple Southeast locations

• Ample front parking plus rear employee parking and access

• Dual access from Stone Drive and Bridgewater Lane

• High-visibility location between O'Reilly Auto Parts and Appalachian Community Federal Credit Union

With value-adjusted pricing, this turnkey investment presents an outstanding opportunity to acquire a stabilized asset with dependable income and long-term upside.

Contact agent for the investment package, financial information, or to schedule a private property tour.

Investment highlights

  • Newly executed Lease effective May 1, 2022, 7-year term

  • Located in Primary Retail Corridor

  • Strong local demographics

  • Expanding National Tenant

  • Five Star Customer Rated

  • Pylon sign along East Stone Drive

  • Multiple locations across 3 states with multiple planned store openings in 2022


Listing Contacts

GP
TN TN 326486, VA VA 0225224327
TCI Group – Jerry Petzoldt Agency LLC
Listed by TCI Group – Jerry Petzoldt Agency LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$44,200.00
$3,683.33/mo

Valuation Metrics

0
DSCR
6.32%
Cap Rate
6.32%
ROI

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Additional Information

Name
Glenn Perkins
License
TN 326486
Brokerage Phone
4232300255
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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