Remodeled Flex
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 Market333
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
Built-Up, Metal
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: Sep 3
Last Checked: Sep 4 at 3:06AM
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 1.04-acre commercial property includes an 8,760-square-foot building constructed in 2004 and recently remodeled for flexible occupancy. The interior is configured as five units, with a brick exterior, built-up and metal roofing, heat-pump heating and cooling, and 34 parking spaces. Public water and sewer serve the property, and natural gas is available.
The site fronts W Stone Drive at the intersection with Lynn Garden Drive in Kingsport. Access is available directly from W Stone Drive for eastbound traffic, while westbound vehicles use a red-light-controlled turn lane. The 2024 traffic count at the site was over 31,000 cars per day, and Lynn Garden Drive recorded almost 16,000. Interstate 26 is one mile away. B3 zoning is in place, and the property is currently arranged for service businesses, retail, offices, or specialty stores.
The site fronts W Stone Drive at the intersection with Lynn Garden Drive in Kingsport. Access is available directly from W Stone Drive for eastbound traffic, while westbound vehicles use a red-light-controlled turn lane. The 2024 traffic count at the site was over 31,000 cars per day, and Lynn Garden Drive recorded almost 16,000. Interstate 26 is one mile away. B3 zoning is in place, and the property is currently arranged for service businesses, retail, offices, or specialty stores.
Key Highlights
- 1.04‑acre property with an 8,760‑square‑foot building
- Five‑unit interior configuration with 34 parking spaces
- 2024 traffic count exceeded 31,000 cars per day at the site
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
$63,545
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
5.02%
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%
$1,270,900
$1.3M
Cap Rate 7%
$907,786
$907.8K
Cap Rate 9%
$706,056
$706.1K
Market Conditions
NOI Build-Up for 8,760 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
$105.1K $12.00/SF
− Vacancy
−$7.4K −$0.84/SF
EGI
$97.8K $11.16/SF
− OpEx
−$34.2K −$3.91/SF
NOI
$63.5K $7.25/SF
Area
Sullivan County, TN
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,270,900
Cap Rate 7%
$907,786
Cap Rate 9%
$706,056
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.26M
NOI $135,347 @ 7.0% cap · market cap 10.70%
Second Best
Flex RnD
$907.8K
$794.3K – $1.06M
NOI $63,545 @ 7.0% cap · market cap 5.02%
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
Property Profile
Current Use
Lease Details
31,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
531
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Atlas Culinary Concepts — 325 clinchfield st, kingsport, tn 37660
Frequently Asked Questions
What type of property is this?
Flex space - Interior is divided into five units for service, retail, office, and specialty-store uses.
Where is this flex space 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: 1.04‑acre property with an 8,760‑square‑foot building; Five‑unit interior configuration with 34 parking spaces; 2024 traffic count exceeded 31,000 cars per day at the site
