Assisted Living Facility
For Sale
Contact for pricing
Pending
1300 Bloomingdale Pike, Kingsport, TN 37660
Adaptive reuse senior housing facility with 30–35 rooms, offices, conference space, and a large commercial kitchen on 30+ acres.
Property Size26,000 SF
Days on Market350
Property Features for 1300 Bloomingdale Pike
General Information
Standard status
Pending
Size
26,000 SF
Property subtype
Multifamily, Senior Living
Zoning
PD
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Blue Ridge Properties
Listed By:
John Moody · License #TN 284676
(423) 534-6355
Source:
Crexi
Added: Sep 23, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:40AM
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 Blue Ridge Properties
Investment Insights
Based on property information with market context.
Former assisted living facility for sale on 30+ acres in Kingsport, TN, offering a 26,000+ sf adaptive reuse building. The property includes approximately 30–35 rooms/apartments, conference and office spaces, and a large commercial kitchen. Utilities are connected to public water and sewer.
The grounds include three existing patio homes, with additional space for further individual home construction. The site is described as a blank slate suitable for repurposing based on the buyer’s needs.
The property is positioned for a range of institutional and mixed-use concepts referenced in the offering, including child care, medical, nursing home, religious organization, senior (55+) housing, and transitional housing with veteran services. With the additional acreage, the remarks also note the possibility of multi-phase development to expand the site’s residential and housing capacity.
The grounds include three existing patio homes, with additional space for further individual home construction. The site is described as a blank slate suitable for repurposing based on the buyer’s needs.
The property is positioned for a range of institutional and mixed-use concepts referenced in the offering, including child care, medical, nursing home, religious organization, senior (55+) housing, and transitional housing with veteran services. With the additional acreage, the remarks also note the possibility of multi-phase development to expand the site’s residential and housing capacity.
Key Highlights
- 1994‑built 26,000+ SF adaptive reuse facility formerly used as an assisted living facility
- 30‑35 rooms/apartments plus conference and office spaces
- Large commercial kitchen and connected to public water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$181,621
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,632,420
$3.6M
Cap Rate 7%
$2,594,586
$2.6M
Cap Rate 9%
$2,018,011
$2.0M
Market Conditions
NOI Build-Up for 26,000 SF
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.
Gross rent
$349.4K $13.44/SF
− Vacancy
−$19.2K −$0.74/SF
EGI
$330.2K $12.70/SF
− OpEx
−$148.6K −$5.72/SF
NOI
$181.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,632,420
Cap Rate 7%
$2,594,586
Cap Rate 9%
$2,018,011
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.27M – $3.03M
NOI $181,621 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.74M
$8.52M – $11.36M
NOI $681,558 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
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
Questions? Ask Rey
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Similar Off Market Nearby
- Steadman Hill Assisted Living — 1300 Bloomingdale Pike, Kingsport, TN 37660
Frequently Asked Questions
What type of property is this?
Assisted living facility - Adaptive reuse senior housing facility with 30–35 rooms, offices, conference space, and a large commercial kitchen on 30+ acres.
Where is this assisted living facility located?
The property is located at 1300 Bloomingdale Pike Kingsport, TN.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 1994‑built 26,000+ SF adaptive reuse facility formerly used as an assisted living facility; 30‑35 rooms/apartments plus conference and office spaces; Large commercial kitchen and connected to public water and sewer
