For Sale
$1,722,033

1736 Eastman Rd Kingsport, TN 37664

Brightspeed NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a 12,540-square-foot industrial net lease property located at 1736 N Eastman Rd, Kingsport, Tennessee. The property, built in 1994 and fully renovated in 2024, sits on a 2.01-acre lot and boasts one loading dock and one dock-high door. Currently 100% occupied by Brightspeed, a subsidiary of Apollo Global Management, Inc., this single-tenant building offers a secure, long-term investment with a new 10-year lease commencing July 1, 2024, and expiring June 30, 2034. The lease includes a favorable triple-net (NNN) structure, where the tenant is responsible for all taxes, insurance, and common area maintenance (CAM) expenses. Rent increases of 10% are built into the lease every five years, providing significant long-term growth potential. The property's strategic location in Kingsport, within one mile of Eastman Chemical Company and the East Stone Dr retail corridor, ensures high visibility and accessibility. The asking price is $1,722,033, representing a compelling cap rate of 7.25% and a price per square foot of $137.32. The strong tenant, backed by a billion-dollar parent company, coupled with the property's recent renovation and favorable lease terms, makes this an attractive investment in a high-growth area experiencing significant residential and retail development. The property's Net Operating Income (NOI) is $124,847. Kingsport's robust economic climate, fueled by the presence of Eastman Chemical Company and new retail developments, further enhances the investment's appeal.

Highlights

  • High-growth Kingsport, TN location with strong residential and retail development.
  • Investment-grade tenant, Brightspeed, backed by Apollo Global Management.
  • Newly renovated (2024), 12,540 SF building on a 2+ acre lot; desirable asset class.
  • 10-year NNN lease with 10% rent increases every 5 years.
  • Tenant pays all taxes, insurance, and CAM.
  • Prime Kingsport location near Eastman Chemical Company and major retail corridor.

Property Details for 1736 Eastman Rd

Property type
Retail properties, Industrial properties
Square Feet
12,540 SF
Year Built/Renovated
1994/2024
Buildings
1
Lot Size (sq. ft)
87,556 SF
Units
1

Location Insight

City
Kingsport
County
Sullivan
State
Tennessee
Latitude
36.540786246459
Longitude
-82.523365910866

FAQs

What type of property is this?
Retail property - Brightspeed NNN Lease, High ROI
Where is the retail property located?
The property is located at 1736 Eastman Rd Kingsport, TN.
What is the asking price?
The asking price for this property is $1,722,033.
What are key features of this property?
This property features: High-growth Kingsport, TN location with strong residential and retail development.; Investment-grade tenant, Brightspeed, backed by Apollo Global Management.; Newly renovated (2024), 12,540 SF building on a 2+ acre lot; desirable asset class.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1736 Eastman Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message