Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1653 E Stone Dr, Unit 1647 Kingsport, TN 37660

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,000,000

    Freestanding medical office building with long-term corporate lease.

    Lot size:
    0.53 Acres

    Property Features for 1653 E Stone Dr

    General Information

    Standard status
    Active
    Lot size
    0.53 Acres

    Building Details

    Year built
    1999

    We can help!

    Listing Contact
    Glenn Perkins
    Glenn Perkins
    Source: Crexi

    Listing Agency: TCI Group – Jerry Petzoldt Agency LLC Listing Agent: Glenn Perkins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Kingsport Medical Office Investment Opportunity

    This commercial real estate offering features a freestanding 3,995-square-foot medical office building in Kingsport, Tennessee. Constructed in 1999 to meet Aspen Dental's specifications, the property has been continuously occupied by the tenant since its construction. The property is situated on approximately 0.53 acres with approximately 11,000 square feet of paved parking. The property is located along the highly trafficked East Stone Drive retail corridor, a primary commercial artery serving dense residential neighborhoods and regional retail demand. The property is leased to Aspen Dental Management, Inc. under a new 5-year corporate NN lease commencing January 1, 2026. The new lease structure includes two additional five-year renewal options, each featuring 9.26% rental increases. The investment generates annual Net Operating Income of $120,000. The property's purpose-built layout, specialized improvements, and established patient base contribute to its operational commitment. This property is suitable for 1031 exchange buyers, private investors, and institutional net-lease portfolios.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Indian Ridge Animal Hospital, Inc., Bunch Michael DVM, Vaughan Jane S DVM, Mears Matt DVM, Nannenga Stephanie DVM

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.519818
    Latitude
    36.547155

    Nearby Similar for Sale

    • $995,000
      4,000 SF

      Versatile Commercial Building in Kingsport

      4,000 sqft commercial building on almost an acre.
      3930 E Stone Dr, Kingsport, TN 37660
      View Details
    • $419,000
      4,121 SF

      Kingsport Retail/Commercial Opportunity For Sale

      Versatile commercial space with high visibility and flexible owner financing.
      3504 Fort Henry Dr, Kingsport, TN 37664
      View Details
    • New
      $575,000
      3,393 SF

      Kingsport Medical Office Space Available

      First-floor medical office space in a prime Kingsport location.
      444 Clinchfield St, Kingsport, TN 37660
      View Details
    • New
      $1,750,000
      8,000 SF

      Versatile Kingsport Industrial Property

      Industrial property with two buildings totaling 8,000 square feet.
      401 Tilthammer Dr, Kingsport, TN 37663
      View Details
    • $2,790,000
      4,498 SF

      New Construction Industrial Warehouse/Office Facility

      New construction industrial warehouse and office facility on 10 acres.
      2640 Stone Dr W, Kingsport, TN 37660
      View Details
    • $239,000
      4,582 SF

      Downtown Kingsport Commercial Space

      Cleared commercial space in downtown Kingsport, ready for new business.
      104 W Main St, Kingsport, TN 37660
      View Details
    • $949,900
      800 SF

      Versatile Commercial Property in Kingsport

      5,600+/- SF commercial property with fenced lot in high-traffic area.
      475 Morelock St, Kingsport, TN 37660
      View Details
    • New
      $495,000
      6,308 SF

      Downtown Kingsport Mixed-Use Opportunity

      Two-story building in downtown Kingsport with retail and residential potential.
      300 E Sullivan St, Kingsport, TN 37660
      View Details
    • $1,265,000
      8,760 SF

      High Visibility Kingsport Commercial Property

      Mixed-use investment or owner-operator opportunity in a busy business district.
      733 W Stone Dr, Kingsport, TN 37660
      View Details
    • $199,900
      1,760 SF

      Kingsport Mixed-Use Commercial Property

      Mixed-use property in downtown Kingsport with high-traffic visibility.
      343 E Sullivan St, Kingsport, TN 37660
      View Details
    • $450,000
      4,430 SF

      Versatile Commercial Property in Kingsport

      Mixed-use property with income potential in downtown Kingsport.
      427 E Sullivan St, Kingsport, TN 37660
      View Details
    • $599,000
      7,912 SF

      Kingsport Commercial Property For Sale

      Retail and industrial property near Walmart and Fort Henry Mall.
      2303 Fort Henry Dr, Kingsport, TN 37664
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Freestanding medical office building with long-term corporate lease.
    Where is this medical office space located?
    The property is located at 1653 E Stone Dr, Unit 1647 Kingsport, TN.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: - New 5-year corporate NN lease commencing January 1, 2026, providing immediate income stability.; - Located on a highly trafficked retail corridor (East Stone Drive) with strong visibility.; - Tenant is Aspen Dental Management, Inc., a large and growing dental service organization.
    (423) 230-0255
    Request Owner's contact information
    1653 E Stone Dr, Unit 1647 Kingsport, TN 37660
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1653 E Stone Dr, Unit 1647
    Kingsport, TN 37660
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1653 E Stone Dr, Unit 1647 Kingsport, TN 37660
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Glenn Perkins
    Glenn Perkins
    Real Estate License ID: 0225224327
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!