Flex Space with Truck
For Sale
$879,900
5602 Kingsport Highway, Gray, TN 37615
COMMERCIAL - Gray, TN
Property Size7,832 SF
Lot Size1.08 Acres
Price / SF$112.35
Days on Market95
Property Features for 5602 Kingsport Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B4
Subdivision
J B Rice
Directions
heading north on Kingsport Hwy towards Gray; building is on main corridor on yoru right.
Standard status
Active
APN
013i A 01000 000
Size
7,832 SF
Lot size
1.08 Acres
Taxes and HOA fees
Tax Annual Amount
1502
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
pylon signage
freight elevator
break room
Building Details
Year built
1960
Building materials
Block, Concrete, Synthetic Stucco
Roof type
Metal, Shingle, Rubber
Listing Agency:
REMAX Checkmate, Inc. Realtors · RE/MAX International
(423) 282-0432
Listed By:
Jay Goodson · License #329807
(423) 612-3035
Added: Apr 29
Changed: Jul 28
Last Checked: Aug 1 at 2:06AM
MLS# 9994644
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-level flex space combines built-out office and retail/showroom areas with practical warehouse and logistics utility. The upper level is at grade with Hwy 36 and includes showroom, lobby, and office areas plus a break room. The lower level is kept at moderate temperatures year-round and is supported by a truck dock for loading in and out. A freight elevator serves the building, and HVAC was replaced in 2024. Additional interior finishes are noted throughout, supporting a polished mix of customer-facing and operational space.
Located in Gray, TN at 5602 Kingsport Highway within Washington County, the property offers over 150 feet of road frontage on a major commercial corridor and includes pylon signage for visibility. The zoning is B4. The offering includes a 1.08-acre site and an adjacent additional 0.36-acre parcel, which the remarks indicate could be developed for outbuildings or parking, for a total of over one full acre of commercial space.
With approximately 7,832 square feet of space, this configuration is designed to support both showroom/office functions on the upper level and loading activity below.
Located in Gray, TN at 5602 Kingsport Highway within Washington County, the property offers over 150 feet of road frontage on a major commercial corridor and includes pylon signage for visibility. The zoning is B4. The offering includes a 1.08-acre site and an adjacent additional 0.36-acre parcel, which the remarks indicate could be developed for outbuildings or parking, for a total of over one full acre of commercial space.
With approximately 7,832 square feet of space, this configuration is designed to support both showroom/office functions on the upper level and loading activity below.
Key Highlights
- Prime commercial location on North Roan Street/ Hwy 36 with over 150 ft of road frontage and high visibility.
- Includes two adjacent parcels totaling over 1 acre, offering development potential for outbuildings or parking.
- Versatile space suitable for office, retail/showroom, warehousing, and flex space.
Financial Insights For Flex RnD
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 | $94.0k | $12.00 |
| − Vacancy | −$5.6k | −$0.72 |
| EGI | $88.3k | $11.28 |
| − OpEx | −$30.9k | −$3.95 |
| NOI | $57.4k | $7.33 |
7,832 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,525 @ 7.0% cap · market cap 13.92%
Second Best
Flex RnD
$820.3K
$717.8K – $957.1K
NOI $57,424 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,201 @ 7.0% cap · market cap 26.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37615, TN
22,151
Population
9,946
Households
2.2
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
37.6 sq mi
ZIP Area
589
Density / Sq Mi
$75,556
Median Household Income
$43,758
Median Earnings
$966
Median Rent
$261,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-level flex space with upper showroom/office areas and a downstairs truck dock for loading and distribution.
Where is this flex space located?
The property is located at 5602 Kingsport Highway Gray, TN.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Prime commercial location on North Roan Street/ Hwy 36 with **over 150 ft of road frontage and high visibility**.; Includes two adjacent parcels totaling over 1 acre, offering development potential for outbuildings or parking.; Versatile space suitable for office, retail/showroom, warehousing, and flex space.
