Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3404-3585 Frylee Ct Kingsport, TN 37664

    Sponsored
    For Sale
    $12,999,900

    MULTI_FAMILY - Ranch - Kingsport, TN

    Type:Single Family Residence
    Property size:
    4,454 SF
    Lot size:
    8.56 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 7 at 1:06 am

    Property Features for 3404-3585 Frylee Ct

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    Residential
    Rooms
    Bedroom 8, Bathroom 4, Bathroom 6, Bathroom 3, Bedroom 4, Dining Room, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 5, Bedroom 3, Bedroom 9, Bathroom 7, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 7
    Bedrooms
    9
    APN
    062g A 001.00
    Parking features
    Open, Driveway
    Patio and Porch features
    Patio, Porch
    Interior features
    Entrance Foyer, Granite Counters, Kitchen/Dining Combo, Open Floorplan, Pantry, Walk-In Closet(s)
    Appliances
    Dishwasher, Disposal, Electric Range, Microwave, Refrigerator
    Size
    4,454 SF
    Lot size
    8.56 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Heat Pump
    Water source
    Public

    Building Details

    Year built
    2023
    Floors in Building
    2
    Number of units
    40
    Flooring type
    Vinyl
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Meghan Masters

    REALTY EXECUTIVES JOHNSON CITY (423) 952-0226

    Listing agent Meghan Masters (423) 202-5208 License #350908

    Listing date Feb 6, 2026

    MLS# 9987881 Listing URL

    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

    Newer Construction Single-Family Rental Community

    The Settlement at Frylee Court is a community of 40 single-family detached rental homes in Kingsport, Tennessee, completed between 2023 and 2024. The properties average 1,520 square feet and feature energy-efficient construction, contemporary finishes, and open layouts. Developed for long-term durability and minimal maintenance, the community maintains high occupancy with average monthly rents of $2,221. Each home is platted on its own lot, offering flexibility for long-term cash flow or individual sales. The community is centrally located in Kingsport, providing convenient access to major employers, shopping, dining, and schools. The homes feature stainless steel appliances, premium flooring, spacious kitchens, and open-concept living spaces. Three different home layouts cater to a range of lifestyles. Situated in the Tri-Cities region of Northeast Tennessee, Kingsport benefits from proximity to major regional employers in healthcare, manufacturing, education, and logistics, including Eastman Chemical, Ballad Health, and the Kingsport City School District. The location ensures short commute times to major employment hubs, while the surrounding infrastructure and established neighborhood appeal make it an ideal choice for stable, long-term tenancy. The property is located on 8.56 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.507386
    Latitude
    36.528952

    Nearby Similar for Sale

    • $2,500,000
      30,420 SF

      Restored Mixed-Use Building, Kingsport

      Historic mixed-use building with luxury apartments and commercial units.
      220 Broad St, Kingsport, TN 37660
      View Details
    • $800,000
      8,253 SF

      Kingsport Multifamily Investment Opportunity

      Income-producing 8-unit apartment building near Eastman Headquarters.
      420 Wheatley St, Kingsport, TN 37660
      View Details
    • $319,900
      3,198 SF

      Mixed-Use Building in Downtown Kingsport

      Two-story mixed-use building with retail and residential units.
      809 E Sullivan St, Kingsport, TN 37660
      View Details
    • $475,000
      8,372 SF

      Downtown Kingsport Commercial Building For Sale

      Spacious 8,300+ sq ft commercial building in downtown Kingsport, TN.
      440 E Sullivan St, Kingsport, TN 37660
      View Details
    • $344,300
      1,976 SF

      Kingsport Duplex: Investment Opportunity

      Well-maintained Kingsport duplex with two units, ideal for investors.
      536 Mayfield Ave, Kingsport, TN 37665
      View Details
    • $630,000
      0.63 Acres

      Kingsport Multifamily Investment Opportunity

      Multifamily property with remodeling, expansion potential, and convenient location.
      4033 Harbor Chapel Rd, Kingsport, TN 37664
      View Details
    • $1,350,000
      4,000 SF

      Versatile Commercial Building on 4.3 Acres

      Commercial building with 4,000 sqft, 4.3 acres, and high visibility.
      3930 E Stone Dr, Kingsport, TN 37660
      View Details
    • $2,000,000
      21,600 SF

      Kingsport Commercial Space For Sale

      Six buildings totaling 21,600 SF on 3.38 acres.
      516 Morelock St, Kingsport, TN 37660
      View Details
    • $329,900

      Kingsport Mixed-Use Investment Opportunity

      Mixed-use property with rental income potential in prime location.
      1024 S Wilcox Dr, Kingsport, TN 37660
      View Details
    • $419,000
      4,121 SF

      Kingsport Retail/Commercial Opportunity For Sale

      Retail/commercial building with high visibility and flexible layout in Kingsport.
      3504 Fort Henry Dr, Kingsport, TN 37664
      View Details
    • $699,000
      4,500 SF

      Sprawling Multi-Family Home on Acreage

      Five-bedroom home on 5.26 acres with mountain views.
      4296 Bloomingdale Rd, Kingsport, TN 37660
      View Details
    • $197,000
      1,069 SF

      Kingsport Commercial Property with B3 Zoning

      Multi-use commercial space with B3 zoning and road frontage.
      976 Lynn Garden Dr, Kingsport, TN 37665
      View Details

    FAQs

    What type of property is this?
    Single family property - 40 detached homes, completed 2023-2024, fully stabilized in Kingsport, TN.
    Where is this single family property located?
    The property is located at 3404-3585 Frylee Ct Kingsport, TN.
    What is the asking price?
    The asking price for this property is $12,999,900.
    What are key features of this property?
    This property features: - New Construction (2023-2024): Modern, energy-efficient detached single-family homes.; - **Stabilized Performance:** Consistent high occupancy (97.5%-100%) and proven rent roll.; - Flexible Exit Strategy: Homes are individually platted, allowing for individual sales.
    (423) 202-5208
    Request Owner's contact information
    3404-3585 Frylee Ct Kingsport, TN 37664
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3404-3585 Frylee Ct
    Kingsport, TN 37664
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3404-3585 Frylee Ct Kingsport, TN 37664
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Meghan Masters
    Real Estate License ID: 350908
    (423) 202-5208
    Learn more
    Google sign-in failed. Please try again or use another login method.