2485 Wilcox DrKingsport, TN 37660

Property Details for 2485 Wilcox Dr

Year built

2021

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.00 AC

Property size (Sq ft)

47,504 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

082076 00640

APU

8207600640

Description

This exceptional 1.5-acre commercial land parcel presents a prime opportunity for a restaurant development in Kingsport, Tennessee. Ideally situated near the bustling Eastman Chemical Company and the Meadowview Convention Center, this location guarantees high visibility and consistent customer traffic from both local employees and convention attendees. The property's strategic placement within a mile of Interstate 26 ensures easy accessibility for travelers. This is not just a standalone restaurant pad; it's part of a larger, vibrant development project. The site benefits from its inclusion within a planned mixed-use development that will feature a 120-unit apartment complex and two hotels – a Fairfield Inn and a TownePlace Suites, adding up to 181 rooms. This synergistic environment will create a significant pool of potential customers for your restaurant, boosting its success. The restaurant pad offers excellent frontage on South Wilcox Drive, providing optimal visibility and convenient access for patrons. This is a rare opportunity to establish a thriving restaurant business in a high-growth area with a built-in customer base. The property is zoned for commercial use and is ready for immediate development. Don't miss this chance to secure a prime location in a thriving Kingsport commercial hub.

• CAP approach

  CAP return

  Valuation

  6%

  $10,412,110

  6.5%

  $9,611,179

  7%

  $8,924,666

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,190,860

  Geo Method

  $9,190,860

• Alternative Use

  Use

  Valuation

  Residential

  $10,492,615

  Hospitality

  $9,611,179

  Educational

  $7,996,388

  Medical

  $8,271,396

  Retail

  $12,438,825

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5073

Longitude

-82.556

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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