1736 Eastman RdKingsport, TN 37664

Property Details for 1736 Eastman Rd

Year built

1994

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.01 AC

Property size (Sq ft)

12,420 SF

Property type

Warehouses

APN

082046M L 00320

APU

082046ML00320

Description

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.

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5415

Longitude

-82.5214

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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