Assisted Living
100 Strickland Ct, Kingsport, TN 37660
For Sale
$3,000,000
Operating senior-care community with secured memory-care areas and assisted-living accommodations.
Property Size30,816 SF
Lot Size5.86 Acres
Price / SF$97.35
Days on Market49
Property Features for 100 Strickland Ct
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Asking Price
Business Included
Opportunity Zone
Amenities
Memory care campus with assisted living. Three buildings, 42 rooms, 76 functional beds on 5.86 acres in Kingsport. Two buildings provide secured memory care.
Significant occupancy upside within the existing footprint. Full occupancy at today's rate card would increase scheduled rent from approximately $2.1 million to $3.7 million annually.
Bringing private-pay residents to current rates adds approximately $117,000 in annual rent.
$3,000,000 asking price, approximately 67.5% of the county's 2025 tax appraisal of $4,444,400. Approximately $39,474 per functional bed
Qualified Opportunity Zone through 2028. Hawkins County Census Tract 506.01.
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Nashville Office
Listed By:
Pat Cosgrove · License #License(s): TN: 341774
(615) 997-2853
Source:
Marcusmillichap
Added: Sep 20
Changed: Nov 7
Last Checked: Nov 6 at 5:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nashville Office
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Investment Insights
Based on property information with market context.
The Village at Allandale is a three-building senior-care campus totaling 30,816 square feet on 5.86 acres. Built in 2003 and 2010, the property includes 42 rooms configured for 76 beds and holds a state license for 78 residents. Virginia's Garden and Yesterday's Place provide secured memory care, while Margie's Meadow serves assisted living residents.
Located at 100 Strickland Court in Kingsport, Tennessee, the community is staffed, licensed, and operating. The August 2026 census reported 42 residents and 21 open beds. Seventeen residents participate in TennCare CHOICES, with the remaining residents identified as private pay. The campus is within a Qualified Opportunity Zone and is offered as a going business with its real estate. The state license does not transfer with the sale; the purchaser must apply under its own entity.
Located at 100 Strickland Court in Kingsport, Tennessee, the community is staffed, licensed, and operating. The August 2026 census reported 42 residents and 21 open beds. Seventeen residents participate in TennCare CHOICES, with the remaining residents identified as private pay. The campus is within a Qualified Opportunity Zone and is offered as a going business with its real estate. The state license does not transfer with the sale; the purchaser must apply under its own entity.
Key Highlights
- 30,816‑square‑foot senior‑care campus on 5.86 acres
- Three buildings constructed in 2003 and 2010
- 42 rooms configured as 76 beds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,263
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,305,260
$4.3M
Cap Rate 7%
$3,075,186
$3.1M
Cap Rate 9%
$2,391,811
$2.4M
Market Conditions
NOI Build-Up for 30,816 SF
Gross rent
$414.2K $13.44/SF
− Vacancy
−$22.8K −$0.74/SF
EGI
$391.4K $12.70/SF
− OpEx
−$176.1K −$5.72/SF
NOI
$215.3K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,305,260
Cap Rate 7%
$3,075,186
Cap Rate 9%
$2,391,811
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,263 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.54M
$10.10M – $13.46M
NOI $807,803 @ 7.0% cap · market cap 26.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Under-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
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Similar Off Market Nearby
- Village At Allandale — 100 Strickland Ct, Kingsport, TN 37660
Frequently Asked Questions
What type of property is this?
Assisted living facility - Operating senior-care community with secured memory-care areas and assisted-living accommodations.
Where is this assisted living facility located?
The property is located at 100 Strickland Ct Kingsport, TN.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 30,816‑square‑foot senior‑care campus on 5.86 acres; Three buildings constructed in 2003 and 2010; 42 rooms configured as 76 beds
