1505 Stone DrKingsport, TN 37660

Property Details for 1505 Stone Dr

Year built

1968

Lot size

3.97 AC

Property size (Sq ft)

112,512 SF

Property type

Retail properties

Property subtype

Retail space

APN

082046L A 01500

APU

082046LA01500

Description

This turnkey Sunoco-branded convenience store and gas station, located at 1505 W Stone Dr, Kingsport, TN 37660, presents a compelling investment opportunity. The 4,898 square foot building, situated on a 0.7-acre lot zoned B-3, underwent a complete renovation in 2019. Improvements include a new roof, HVAC system (12-ton and 8-ton units), paint, flooring, walk-in coolers and freezer, refrigerated displays, and a beer cave. The property boasts five gas islands with new EMV-ready card readers and media-ready pumps dispensing regular, premium, and diesel fuels. A new lighted pylon sign with electronic pricing is also featured. The fuel supply is secured by a 10-year rack-plus-penny contract. Three 12,000-gallon underground steel tanks are regularly inspected and compliant. The business includes a fully equipped kitchen with restaurant-grade fire suppression, fryer, grill, and pressure fryer, capable of resuming cooked food service and deli operations. Additional revenue streams include Chester's Chicken, a deli, pizza sales, novelties, U-Haul rentals, and a Bitcoin-capable ATM. The property enjoys high visibility on West Stone Drive, with over 50,000 average daily vehicles passing by, and is conveniently located within 450 feet of I-26 Exit 1. The asking price is $2,825,000, with a 2023 NOI of $183,625 and a 6.5% cap rate. All FF&E is included. Financial details will be provided to qualified buyers upon execution of a Confidentiality Agreement, non-binding LOI, credit reports, and proof of funds. The owner will consider a 5-year lease with a 5-year renewal option, requiring a $375,000 non-refundable deposit plus inventory, with monthly rent at $5,500 (10% increase during the option period). The business operates Monday-Saturday 7 AM to 10 PM and Sunday 8 AM to 9 PM.

• CAP approach

  CAP return

  Valuation

  6%

  $31,916,124

  6.5%

  $29,461,036

  7%

  $27,356,678

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,343,044

  Geo Method

  $23,343,044

• Alternative Use

  Use

  Valuation

  Residential

  $24,851,486

  Hospitality

  $22,763,828

  Educational

  $18,939,238

  Medical

  $19,590,588

  Retail

  $29,461,036

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5479

Longitude

-82.5212

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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