Multi-Unit Strip
New
For Sale
$425,000
930 Wilcox Court, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size1,850 SF
Lot Size0.53 Acres
Price / SF$229.73
Days on Market2
Property Features for 930 Wilcox Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1
Directions
From Downtown Kingsport: Wilcox Drive to Wilcox Business Center. Turn right on Wilcox Court, second building on left.
Subdivision
405 - Sullvn Grdns/Horse Crk Vill/Lo
Standard status
Active
APN
061 012.40
Size
1,850 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Annual Amount
1515
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1981
Building materials
Block, Metal Siding
Roof type
Rubber
Listing Agency:
Property Executives Johnson City
(423) 952-0226
Listed By:
Mary Ann Patton · License #270165
(423) 677-6592
Added: Sep 14
Last Checked: Sep 15 at 1:06PM
MLS# 10000887
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 M1-zoned strip mall at 930 Wilcox Court includes eight units within a 1,850-square-foot commercial building, with Units 3 and 4 combined into a larger suite. One unit is available for lease. Each unit has a private restroom, two separate rooms, and its own PTAC heating and cooling system, supporting office, retail, and service uses. The property was built in 1981 and includes block and metal siding construction with a rubber roof.
The 0.53-acre site provides customer parking in front of the building along with additional spaces at the side. Public water and public sewer serve the property, while tenants pay their own electric costs and water is supplied through one shared meter. Located in Kingsport, the property sits approximately 1.6 miles from I-26 and just off Wilcox Drive.
The 0.53-acre site provides customer parking in front of the building along with additional spaces at the side. Public water and public sewer serve the property, while tenants pay their own electric costs and water is supplied through one shared meter. Located in Kingsport, the property sits approximately 1.6 miles from I-26 and just off Wilcox Drive.
Key Highlights
- Eight‑unit strip mall with Units 3 and 4 combined into one larger space
- 1,850 square feet on 0.53 acres
- M1 zoning with one unit available for lease
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
$28,584
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
6.73%
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%
$571,680
$571.7K
Cap Rate 7%
$408,343
$408.3K
Cap Rate 9%
$317,600
$317.6K
Market Conditions
NOI Build-Up for 1,850 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
$42.6K $23.04/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$40.8K $22.07/SF
− OpEx
−$12.3K −$6.62/SF
NOI
$28.6K $15.45/SF
Area
Sullivan County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
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%
$571,680
Cap Rate 7%
$408,343
Cap Rate 9%
$317,600
Alternative Uses
Best Use
Retail
$408.3K
$357.3K – $476.4K
NOI $28,584 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$692.8K
$606.2K – $808.3K
NOI $48,495 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
109
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - M1-zoned retail property with individual restrooms, PTAC systems, and customer parking.
Where is this strip mall located?
The property is located at 930 Wilcox Court Kingsport, TN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Eight‑unit strip mall with Units 3 and 4 combined into one larger space; 1,850 square feet on 0.53 acres; M1 zoning with one unit available for lease
