1989 Stone DrKingsport, TN 37660

Property Details for 1989 Stone Dr

Year built

1986

Construction

FRAME

Lot size

1.22 AC

Property size (Sq ft)

25,848 SF

Property type

Office properties

APN

082047P A 00510

APU

082047PA00510

Description

This Class A, 23,000 square foot office building in Kingsport, Tennessee, is available for sale. Located at 1989 East Stone Dr., this four-story, 1.22-acre property offers a unique opportunity for owner-users or investors. The building, constructed in 1987, boasts a striking all-glass design and a highly visible corner location at a major intersection (SR-93 & US-11 interchange), experiencing 43,901 vehicles per day. With 70 surface parking spaces, the property is ideal for a variety of uses, including corporate headquarters, R&D, medical, high-tech, executive suites, or government/institutional offices. The asking price is $699,000 ($28.04/sq ft), and the building is currently vacant, with an occupancy date of September 1, 2022. The property's prime location within the Tri-Cities MSA's primary retail corridor ensures high traffic and excellent visibility. Its flexible layout makes it suitable for a range of businesses seeking a prestigious and easily accessible location. The neighboring anchor tenant is New People's Bank. All information should be verified by the buyer.

• CAP approach

  CAP return

  Valuation

  6%

  $4,992,056

  6.5%

  $4,608,052

  7%

  $4,278,906

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,128,066

  Geo Method

  $2,128,066

• Alternative Use

  Use

  Valuation

  Residential

  $5,713,984

  Hospitality

  $5,233,980

  Educational

  $4,354,610

  Medical

  $4,504,371

  Retail

  $6,773,836

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5446

Longitude

-82.5116

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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