For Sale
$1,722,033

1736 Eastman RdKingsport, TN 37664

Brightspeed NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
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
1736 Eastman Rd, Kingsport, Tennessee

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1736 Eastman Rd
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