Commercial Space with Development
5602 Kingsport Highway Gray, TN 37615
For Sale
$879,900
COMMERCIAL - Gray, TN
Property Size7,832 SF
Lot Size1.08 Acres
Price / SF$112.35
Days on Market88
Property Features for 5602 Kingsport Highway
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B4
- Standard status
- Active
- APN
- 013i A 01000 000
- Size
- 7,832 SF
- Lot size
- 1.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1502
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1960
- Building materials
- Block, Concrete, Synthetic Stucco
- Roof type
- Shingle, Rubber, Metal
Listing Agency:
REMAX Checkmate, Inc. Realtors
(423) 282-0432
Listed By:
Jay Goodson · License #329807
(423) 612-3035
Added: Apr 29
Changed: May 14
Last Checked: Jul 25 at 4:06PM
MLS# 9994644
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 commercial space, located in Boones Creek on North Roan Street/Hwy 36, offers a blend of office, retail/showroom, warehousing, and flex space. The upper level, at grade with Hwy 36, features a showroom, lobby, office areas, and a break room. The downstairs area maintains moderate temperatures year-round and includes a truck dock for loading. HVAC was replaced in 2024, and stylish finishes have been added throughout. The property has over 150 feet of road frontage on a major commercial corridor in Johnson City, along with highly visible pylon signage and a freight elevator. The property includes an adjacent 0.36-acre site, which could be developed for outbuildings or parking, providing over 1 acre of commercial space. The property is zoned B4 and has a total lot size of 1.08 acres. The building size is 7,832 square feet.
Key Highlights
- Prime commercial location on North Roan Street/ Hwy 36 with over 150 ft of road frontage and high visibility.
- Includes two adjacent parcels totaling over 1 acre, offering development potential for outbuildings or parking.
- Versatile space suitable for office, retail/showroom, warehousing, and flex space.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.8k | $8.40 |
| − Vacancy | −$3.3k | −$0.42 |
| EGI | $62.5k | $7.98 |
| − OpEx | −$9.4k | −$1.20 |
| NOI | $53.1k | $6.78 |
7,832 SF · lease $8.40/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,525 @ 7.0% cap · market cap 13.92%
Second Best
Office B
$1.65M
$1.45M – $1.93M
NOI $115,600 @ 7.0% cap · market cap 13.14%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,201 @ 7.0% cap · market cap 26.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
A Nature's Healing Arts
Alternative Medicine Practice
The Lucky Fin Homestore
Furniture & Home Goods
Jim Quillin, LMT, ...
Alternative Medicine Practice
FAQs
What type of property is this?
Mixed-use property - Versatile commercial space in Gray, TN with development opportunity.
Where is this mixed-use property located?
The property is located at 5602 Kingsport Highway Gray, TN.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Prime commercial location on North Roan Street/ Hwy 36 with **over 150 ft of road frontage and high visibility**.; Includes two adjacent parcels totaling over 1 acre, offering development potential for outbuildings or parking.; Versatile space suitable for office, retail/showroom, warehousing, and flex space.
