Building Details

Buildings 1

Tenancy Multi

Listing Agency: Property Executives Johnson City p***@gmail.com Show Phone

Listed By: Mary Ann Patton · License #270165 Show Phone

Source: Exprealty

Added: Sep 14 Changed: Oct 31 Last Checked: Oct 30 at 2:38PM

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Investment Insights

Based on property information with market context.

This Kingsport strip center is configured as 8 units, with Units 3 and 4 joined into one larger space. Each unit has a restroom, two separate rooms and an individual PTAC heating and cooling unit. Tenants pay their own electric costs; water is supplied through a shared meter, with the owner covering that expense.

Customer parking is available in front of the building, with additional spaces along its side. The property is just off Wilcox Drive and approximately 1.6 miles from I-26.

Key Highlights

• 8 units, with Units 3 and 4 combined into a larger space
• Each unit is approximately 240 sq ft and includes a restroom and two rooms
• Individual PTAC heating and cooling equipment in each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,584

Cap Rate

6.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$571,680 $571.7K

Cap Rate 7%

$408,343 $408.3K

Cap Rate 9%

$317,600 $317.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,850 SF

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 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 (±1% cap)

NOI $28,584 @ 7.0% cap · market cap 6.73%

Second Best

Apartment 5plus

$184.6K

$161.5K – $215.4K (±1% cap)

NOI $12,923 @ 7.0% cap · market cap 3.04%

Theoretical Best

Office A

$692.8K

$606.2K – $808.3K (±1% cap)

NOI $48,495 @ 7.0% cap · market cap 11.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Scruffy and Friends Pet ... Pet Grooming Service Your Way Cleaning ... General Contractor Ronda's Leap of Faith ... Hair Salon River Ran Aquatics Specialty Food Shop Atlas Tax Services ... Tax Preparation

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Pharmacy Law Firm Storage Facility Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

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

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - Individual restroom, two-room layouts and PTAC climate control serve each unit.

Where is this strip mall located?

The property is located at 930 Wilcox Ct 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: 8 units, with Units 3 and 4 combined into a larger space; Each unit is approximately 240 sq ft and includes a restroom and two rooms; Individual PTAC heating and cooling equipment in each unit