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    2640 Stone Dr W Kingsport, TN 37660

    Sponsored
    For Lease
    $2,790,000

    COMMERCIAL - Kingsport, TN

    Property size:
    4,498 SF
    Lot size:
    10.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 1 at 6:06 am

    Property Features for 2640 Stone Dr W

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Zoning
    B3
    APN
    045b C 024.00
    Parking
    50
    Size
    4,498 SF
    Lot size
    10.00 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Oil
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2025
    Building materials
    Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Ed Mahaffey
    Ed Mahaffey

    TCI GROUP - JERRY PETZOLDT AGE (423) 915-0911

    Listing agent Ed Mahaffey (423) 430-4215 License #355986

    Listing date Feb 28, 2026

    MLS# 9991699

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Kingsport Industrial Warehouse/Office Facility

    This newly constructed steel-frame warehouse and office facility is located on a highly traveled commercial corridor in Kingsport, Tennessee. The property benefits from a traffic count of 30,168 vehicles per day. The total building size is 13,295 square feet, with a two-level office totaling 4,498 square feet and a warehouse/shop level providing 8,797 square feet. The total lot size is 10 acres, with the potential for additional land up to 68 acres. The property is zoned B3 - Highway Business District. The warehouse features 6'' reinforced concrete floors, a 28' center height / 20' eave height, five 14' x 14' drive-through roll-up doors, and three-phase power. It also offers easy tractor-trailer access and is fully fenced with well-lit exterior. The two-level office space includes eight large private offices, a receptionist area with a dedicated lobby/vestibule, four restrooms with shower facilities, washer & dryer hookup, a large kitchen/break area, handicap-accessible personnel doors and restrooms, and an interior security system. The upper level has separate interior stair access plus a dedicated steel stairway from the warehouse. The building is constructed with a standing seam metal roof and siding, underground utilities, and durable steel-frame construction. The property offers rapid regional connectivity to Sullivan, Washington, and Hawkins Counties, making it suitable for distribution, equipment sales, service operations, manufacturing, or regional headquarters.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Giuseppe's

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.610284
    Latitude
    36.556499

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    FAQs

    What type of property is this?
    Flex space - New construction industrial warehouse and office facility on 10 acres.
    Where is this flex space located?
    The property is located at 2640 Stone Dr W Kingsport, TN.
    What is the lease rate?
    The lease rate is $2,790,000.
    What are key features of this property?
    This property features: - New construction industrial warehouse/office facility (13,295 SF) with high visibility.; - Strategically located near Walmart and Tractor Supply, with easy access to Interstates 26 and 81.; - Warehouse features 8,797 SF, 6'' reinforced concrete floors, 28' center height / 20' eave height, five (5) 14' x 14' drive-through roll-up doors, and three-phase power.
    (423) 230-0255
    Request Owner's contact information
    2640 Stone Dr W Kingsport, TN 37660
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    Kingsport, TN 37660
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2640 Stone Dr W Kingsport, TN 37660
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    We can help!
    Listing Contact
    Ed Mahaffey
    Ed Mahaffey
    Real Estate License ID: 355986
    (423) 230-0255 (423) 430-4215
    Learn more
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