1101 Eastman RdKingsport, TN 37664

Property Details for 1101 Eastman Rd

Lot size

12.04 AC

Property size (Sq ft)

156,474 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Green Acres Shopping Center presents a compelling value-add opportunity in Kingsport, Tennessee. This 156,474 square foot, multi-tenant shopping center sits on 12.04 acres and boasts 26 tenants across three, single-story buildings. Currently operating at 16.5% occupancy, the property offers significant upside potential through leasing approximately 25,896 square feet of available space, including various bay sizes and a prime end cap. The existing tenant mix includes national, regional, and local businesses, with several having occupied their spaces for over a decade. Key anchors include Ollie's Bargain Outlet and American Freight, complemented by Dollar General, Goodwill, and Jersey Mike's Subs. The property benefits from a strong location near major retailers like Big Lots, Food City, and Walgreens, and is adjacent to Ross N. Robinson Middle School and Dobyns-Bennett High School, serving over 2,100 students. Its proximity to the Eastman Chemical headquarters, a major employer in the area, further enhances its appeal. The center features 555 parking spaces and provides opportunities for rent bumps. With a current NOI of $695,410, this property offers a significant return on investment, especially considering its location in the Tri-City area, a region with a combined population exceeding 500,000 and a substantial daily influx of workers. The property is priced far below replacement cost. This is an exceptional opportunity to capitalize on a strong market and a proven retail location.

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5299

Longitude

-82.5301

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