5-Unit Strip
For Sale
$1,265,000
733 W Stone Drive, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size8,760 SF
Lot Size1.04 Acres
Price / SF$144.41
Days on Market368
Property Features for 733 W Stone Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3
Parking
34
Subdivision
Not In Subdivision
Directions
Follow Stone Dr. to 733 W Stone Dr. at the intersection of Lynn Garden Dr.
Standard status
Active
APN
046a E 025.00
Size
8,760 SF
Lot size
1.04 Acres
Taxes and HOA fees
Tax Annual Amount
5825
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2004
Building materials
Brick
Roof type
Metal, Built-Up
Listing Agency:
TCI Group - Jerry Petzoldt Agency, LLC
(423) 230-0255
Listed By:
Ed Mahaffey · License #355986
(423) 430-4215
Added: Oct 7, 2025
Changed: Oct 9
Last Checked: Oct 9 at 10:06PM
MLS# 9986716
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 brick strip mall, built in 2004, contains five interior units and was recently remodeled. Its configuration is described as suitable for retail, office, service-business, and specialty-store uses, as well as owner operation. The property has heat-pump heating and cooling, a metal and built-up roof, public water and sewer, and natural gas availability. B3 zoning applies.
The 1.04-acre property sits at W Stone Drive and Lynn Garden Drive in Kingsport, with 34 parking spaces and access from W Stone Drive. The site is one mile from Interstate 26. The 2024 traffic count on W Stone Drive exceeded 31,000 vehicles per day; Lynn Garden Drive recorded nearly 16,000.
The 1.04-acre property sits at W Stone Drive and Lynn Garden Drive in Kingsport, with 34 parking spaces and access from W Stone Drive. The site is one mile from Interstate 26. The 2024 traffic count on W Stone Drive exceeded 31,000 vehicles per day; Lynn Garden Drive recorded nearly 16,000.
Key Highlights
- Five interior units; recently remodeled
- 34 parking spaces on a 1.04‑acre property
- At W Stone Drive and Lynn Garden Drive, with access from W Stone Drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,869
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,537,380
$1.5M
Cap Rate 7%
$1,098,129
$1.1M
Cap Rate 9%
$854,100
$854.1K
Market Conditions
NOI Build-Up for 8,760 SF
Gross rent
$136.7K $15.60/SF
− Vacancy
−$13.7K −$1.56/SF
EGI
$123.0K $14.04/SF
− OpEx
−$46.1K −$5.27/SF
NOI
$76.9K $8.77/SF
Area
Sullivan County, TN
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,537,380
Cap Rate 7%
$1,098,129
Cap Rate 9%
$854,100
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.26M
NOI $135,347 @ 7.0% cap · market cap 10.70%
Second Best
Mixed Use
$1.10M
$960.9K – $1.28M
NOI $76,869 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,633 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - Five distinct spaces offer flexibility for retail, office, service, or owner-operated business use.
Where is this strip mall located?
The property is located at 733 W Stone Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $1,265,000.
What are key features of this property?
This property features: Five interior units; recently remodeled; 34 parking spaces on a 1.04‑acre property; At W Stone Drive and Lynn Garden Drive, with access from W Stone Drive
