Multi-Unit Retail Shopping
2637 East Stone Drive Kingsport, TN 37660
New
For Sale
$5,200,000
Shopping center with eight retail units across two buildings and 90% occupancy, supported by ample surface parking.
Property Size23,876 SF
Price / SF$217.79
Days on Market2
Property Features for 2637 East Stone Drive
General Information
- Standard status
- Active
- Size
- 23,876 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2011
Listing Agency:
eXp Commercial - TN
(615) 429-7440
Listed By:
Kamel Daouk, CCIM · License #Tennessee #319988
Source:
7s
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 5:01AM
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 eXp Commercial - TN
Investment Insights
Based on property information with market context.
This multi-unit shopping center totals 23,876 SF across two buildings and features eight retail units. The property has 90% occupancy and includes generous storefront glazing intended to bring natural light into the spaces.
The site is set up for convenient customer and employee access, with ample surface parking. Efficient ingress and egress are included to support smooth traffic flow in and out of the property.
With multiple storefronts and a parking-forward layout, the center offers a straightforward configuration for retail tenants seeking multi-unit retail space within a shared shopping center environment.
The site is set up for convenient customer and employee access, with ample surface parking. Efficient ingress and egress are included to support smooth traffic flow in and out of the property.
With multiple storefronts and a parking-forward layout, the center offers a straightforward configuration for retail tenants seeking multi-unit retail space within a shared shopping center environment.
Key Highlights
- 23,876 SF shopping center built in 2011
- Comprises 8 retail units across two buildings
- 90% occupancy rate
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $550.1k | $23.04 |
| − Vacancy | −$23.1k | −$0.97 |
| EGI | $527.0k | $22.07 |
| − OpEx | −$158.1k | −$6.62 |
| NOI | $368.9k | $15.45 |
23,876 SF · lease $23.04/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.27M
$4.61M – $6.15M
NOI $368,899 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,880 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
LL Flooring
Carpet & Flooring Store
East Coast Wings ...
Restaurant
Polish Nail Bar
Nail Salon
Similar Off Market Nearby
- Kingsport Pavilion Shopping Center — 2626 E Stone Dr, Kingsport, TN 37660
FAQs
What type of property is this?
Shopping center - Shopping center with eight retail units across two buildings and 90% occupancy, supported by ample surface parking.
Where is this shopping center located?
The property is located at 2637 East Stone Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 23,876 SF shopping center built in 2011; Comprises 8 retail units across two buildings; 90% occupancy rate
