Kingsport Commercial Property on
For Sale
$1,595,000
Pending
1225 East Stone Drive, Kingsport, TN 37660
Over 13,000 sqft on 0.97 acres with B3 zoning.
Property Size13,000 SF
Lot Size0.97 Acres
Days on Market891
Property Features for 1225 East Stone Drive
General Information
Standard status
Pending
Size
13,000 SF
Lot size
0.97 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1957
Listing Agency:
The Addington Agency Bristol
(423) 845-5800
Listed By:
Garrett Addington · License #337697
(423) 646-1060
Source:
Exitrealty
Added: May 1, 2024
Changed: Sep 10
Last Checked: Sep 15 at 5:07AM
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 The Addington Agency Bristol
Investment Insights
Based on property information with market context.
This commercial property in Kingsport, totaling over 13,000 sqft of usable space on a 0.97 +/- acre site, is zoned B3 and presents an opportunity for redevelopment or continued operation as a restaurant. The property's flexible zoning allows for various uses, including a restaurant, QSR, financial institution, retail establishment, or professional service hub. Situated on a signalized intersection on Stone Dr, the location offers high visibility with an average daily traffic count of over 31,000+, a pylon sign, and local recognition. The property is equipped with multiple fully outfitted commercial kitchens, a full bar, ADA compliant bathrooms, and executive offices. Additional features include 3-phase power, multiple walk-in freezers, residential apartments, multiple fireplaces, a 3-car garage, and a dumbwaiter. With multiple points of ingress and egress, the property provides easy access to nearby highways and interstates. The property is suitable for developers seeking to maximize the location's potential or investors looking to establish, relocate, or expand their business. This listing pertains exclusively to the building and its associated property.
Key Highlights
- High‑visibility location on Stone Dr with over 31,000+ ADTC and a signalized intersection.
- Large 13,000+ sqft building on a 0.97 +/- acre lot with flexible B3 zoning suitable for various businesses.
- Equipped with multiple fully outfitted commercial kitchens, full bar, walk‑in freezers, and 3‑phase power.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,475
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,749,500
$2.7M
Cap Rate 7%
$1,963,929
$2.0M
Cap Rate 9%
$1,527,500
$1.5M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$195.0K $15.00/SF
− Vacancy
−$11.7K −$0.90/SF
EGI
$183.3K $14.10/SF
− OpEx
−$45.8K −$3.53/SF
NOI
$137.5K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,749,500
Cap Rate 7%
$1,963,929
Cap Rate 9%
$1,527,500
Alternative Uses
Best Use
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,475 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.87M
$4.26M – $5.68M
NOI $340,779 @ 7.0% cap · market cap 21.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
653
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Over 13,000 sqft on 0.97 acres with B3 zoning.
Where is this conventional restaurant located?
The property is located at 1225 East Stone Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: High‑visibility location on Stone Dr with over 31,000+ ADTC and a signalized intersection.; Large 13,000+ sqft building on a 0.97 +/- acre lot with flexible B3 zoning suitable for various businesses.; Equipped with multiple fully outfitted commercial kitchens, full bar, walk‑in freezers, and 3‑phase power.
