10390 Wallace Alley Street, Kingsport, TN 37663

Building Details

Building Size 20,546 SF More

Listing Agency: Charles Hawkins Co.

Listed By: Tee Patterson, SIOR · License TN #320113 Show Phone

Source: Crexi

Added: Sep 21 Changed: Nov 11 Last Checked: Nov 12 at 6:54AM

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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 Charles Hawkins Co.

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Investment Insights

Based on property information with market context.

This industrial warehouse comprises approximately 20,546 square feet on about 2.10 acres. Trane Supply, an HVAC distribution and service business, has occupied the property since 2009. Its net lease includes a five-year renewal commencing February 1, 2027, with annual rental increases of 3%.

The Kingsport property has access to I-81 and I-26, connecting it with the broader Tri-Cities transportation network.

Key Highlights

• Approximately 20,546 square feet on about 2.10 acres
• Net leased to Trane Supply, an HVAC distribution and service operation
• Trane Supply has occupied the property since 2009

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,245

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,900 $3.3M

Cap Rate 7%

$2,360,643 $2.4M

Cap Rate 9%

$1,836,056 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,546 SF

Gross rent

$204.6K $9.96/SF

− Vacancy

−$10.2K −$0.50/SF

EGI

$194.4K $9.46/SF

− OpEx

−$29.2K −$1.42/SF

NOI

$165.2K $8.04/SF

Area

Sullivan County, TN

Vacancy

5.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,900

Cap Rate 7%

$2,360,643

Cap Rate 9%

$1,836,056

Alternative Uses

Best Use

Warehouse

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,245 @ 7.0% cap · market cap 6.47%

Second Best

Industrial

$1.94M

$1.70M – $2.27M (±1% cap)

NOI $136,084 @ 7.0% cap · market cap 5.33%

Theoretical Best

Office A

$7.69M

$6.73M – $8.98M (±1% cap)

NOI $538,588 @ 7.0% cap · market cap 21.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Trane Supply Hardware & Home Improvement

Suggested Use

Top Pick HVAC Service Auto Parts Store Furniture & Home Goods Auto Repair Shop Bakery Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 37663, TN

14,392

Population

6,679

Households

2.2

Avg Household Size

47

Median Age

34%

College-Educated

95%

High-School Grad

25.8 sq mi

ZIP Area

558

Density / Sq Mi

$76,122

Median Household Income

$45,399

Median Earnings

$886

Median Rent

$224,900

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Kingsport, TN

$250 Jul

$265 Aug

$460 Sep

$424 Oct

Properties on Market for Warehouses in Kingsport

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Trane Supply occupies the facility under a net lease with a five-year renewal beginning in 2027.

Where is this warehouse located?

The property is located at 10390 Wallace Alley Street Kingsport, TN.

What is the asking price?

The asking price for this property is $2,554,272.

What are key features of this property?

This property features: Approximately 20,546 square feet on about 2.10 acres; Net leased to Trane Supply, an HVAC distribution and service operation; Trane Supply has occupied the property since 2009