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    1880 Eastman Rd Kingsport, TN 37664

    Sponsored
    For Lease
    $12 SF/Yr

    Kingsport, TN Office & Retail

    Lot size:
    53,952 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional Kingsport, TN commercial property, Reedy Creek Terrace, offers 53,952 square feet of versatile office and retail space across two, two-story buildings situated on a 4.56-acre lot. Built in 2009, this Class B property features multiple tenancies, with available spaces ranging from 1,200 to 4,000 square feet. The property boasts a prime location at 1880 N Eastman Rd, Kingsport, TN 37664, at a traffic light intersection with Ryder Drive, in a high-traffic retail area. Its strategic location offers easy access from I-26 (Exit 1) and places it less than a mile from Indian Path Community Hospital, Dobyns-Bennett High School, and the Kingsport Civic Auditorium. The property benefits from proximity to Eastman Chemical Company's Global Headquarters, employing 7,000 people. Current tenants include a diverse mix of businesses, including Panera Bread, Merle Norman, Fleet Feet, Citizens Savings & Loan, Annie's Room, Lux Nails, SportClips, Highland Professional Group, Southern Pool & Spa, Cornucopia, Tri-Cities Dance Co., Magnolia Soap, Eat My Art, Backdraft Custom Apparel, and Kumon Math & Reading. The property is zoned B3/M1R and has an APN of 046M D 008.00. First-generation spaces are available as vanilla boxes, with the landlord open to build-outs to tenant specifications. This presents a unique opportunity for businesses seeking a well-established location in a thriving commercial district.

    Property Features for 1880 Eastman Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    53,952 SF
    Class
    B
    Total Rate
    53952

    Building Details

    Year Built
    2009
    Buildings
    2
    Stories
    2

    Unit(s) available at that property

    Space
    170
    Size
    1,520 SF
    Rate per SF
    $12
    Space
    180
    Size
    2,053 SF
    Rate per SF
    $12
    Space
    190
    Size
    2,302 SF
    Rate per SF
    $12
    Space
    160
    Size
    1,200 SF
    Rate per SF
    $12
    Space
    157
    Size
    1,200 SF
    Rate per SF
    $12
    Space
    100
    Size
    2,430 SF
    Rate per SF
    $12
    Space
    120
    Size
    1,280 SF
    Rate per SF
    $12
    Space
    200
    Size
    4,000 SF
    Rate per SF
    $22
    Space
    250
    Size
    1,534 SF
    Rate per SF
    $18

    HighLights

    • High‑visibility corner lot at a signalized intersection in a dense retail area near East Stone Drive.
    • Prominent pylon signage on Eastman Road.
    • Adjacent to Kingsport Greenbelt.
    • 1.5 miles from Eastman Chemical Company headquarters (7,000 employees).
    • Less than one mile from Indian Path Community Hospital.
    • 0.7 miles from Dobyns‑Bennett High School and Kingsport Civic Auditorium.
    Property Profile Location Intelligence

    Current Use by Public Records

    MERLE NORMAN COSMETICS ... Cosmetics Store Eat My Art Gift Shop Magnolia Soap and Bath ... Health And Beauty Shop Harold Webb Plastic Surgeon Kumon Math and Reading ... Tutoring Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kingsport
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.520296565341
    Latitude
    36.543422050002

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    FAQs

    What type of property is this?
    Neighborhood center - Kingsport, TN Office & Retail
    Where is this neighborhood center located?
    The property is located at 1880 Eastman Rd Kingsport, TN.
    What is the lease rate?
    The lease rate is $12-$22 SF/Yr.
    What are key features of this property?
    This property features: High-visibility corner lot at a signalized intersection in a dense retail area near East Stone Drive.; Prominent pylon signage on Eastman Road.; Adjacent to Kingsport Greenbelt.
    Request Owner's contact information
    1880 Eastman Rd Kingsport, TN 37664
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    Kingsport, TN 37664
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1880 Eastman Rd Kingsport, TN 37664
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