Fenced Warehouse with Roll-Up
For Sale
$375,000
3377 E Stone Drive, Kingsport, TN 37660
COMMERCIAL - Kingsport, TN
Property Size5,000 SF
Lot Size0.84 Acres
Price / SF$75
Days on Market138
Property Features for 3377 E Stone Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M 1R
Parking
60
Subdivision
Not In Subdivision
Directions
From Kingsport travel east on 11W. Property is on right just across from Acadia Dr.
Standard status
Active
APN
032 08400 000
Size
5,000 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Annual Amount
1454
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
roll-up doors
16' ceiling height
Building Details
Year built
1987
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
TCI Group - Jerry Petzoldt Agency, LLC
(423) 230-0255
Listed By:
Ed Mahaffey · License #355986
(423) 430-4215
Added: Apr 13
Changed: Aug 4
Last Checked: Aug 28 at 4:06AM
MLS# 9993788
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.
Investment Insights
Based on property information with market context.
This 5,000-square-foot warehouse occupies a level, fully fenced 0.84-acre site at 3377 E Stone Drive in Kingsport. Built in 1987, the metal-sided building has a metal roof, 16-foot ceilings, three 12' x 12' roll-up doors, electric heating, and wall-unit cooling. Outdoor storage areas support vehicle storage or equipment staging, while public water and sewer serve the property.
The building is currently leased to a collision repair operator under a 2-year lease, with the tenant responsible for utilities. Its position along Highway 11W, also known as East Stone Drive, places the property in a commercial corridor with approximately 22,500 vehicles passing daily. The site is within the Kingsport city limits and offers continued automotive use or industrial applications supported by its warehouse layout and access features.
The building is currently leased to a collision repair operator under a 2-year lease, with the tenant responsible for utilities. Its position along Highway 11W, also known as East Stone Drive, places the property in a commercial corridor with approximately 22,500 vehicles passing daily. The site is within the Kingsport city limits and offers continued automotive use or industrial applications supported by its warehouse layout and access features.
Key Highlights
- 5,000 SF warehouse on a 0.84‑acre level, fully fenced lot
- Three 12' x 12' roll‑up doors and 16' ceiling height
- Currently leased to a collision repair operator under a 2‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,117
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$662,340
$662.3K
Cap Rate 7%
$473,100
$473.1K
Cap Rate 9%
$367,967
$368.0K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.8K $9.96/SF
− Vacancy
−$2.5K −$0.50/SF
EGI
$47.3K $9.46/SF
− OpEx
−$14.2K −$2.84/SF
NOI
$33.1K $6.62/SF
Area
Sullivan County, TN
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$662,340
Cap Rate 7%
$473,100
Cap Rate 9%
$367,967
Alternative Uses
Best Use
Retail
$1.10M
$965.7K – $1.29M
NOI $77,253 @ 7.0% cap · market cap 20.60%
Second Best
Warehouse
$574.5K
$502.7K – $670.2K
NOI $40,214 @ 7.0% cap · market cap 10.72%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,069 @ 7.0% cap · market cap 34.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
22,500 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37660, TN
39,479
Population
20,405
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
65.7 sq mi
ZIP Area
601
Density / Sq Mi
$46,913
Median Household Income
$34,164
Median Earnings
$833
Median Rent
$177,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building with outdoor storage, public utilities, and an existing automotive lease.
Where is this warehouse located?
The property is located at 3377 E Stone Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 5,000 SF warehouse on a 0.84‑acre level, fully fenced lot; Three 12' x 12' roll‑up doors and 16' ceiling height; Currently leased to a collision repair operator under a 2‑year lease
