Brick Office Building on Stone
For Sale
$697,000
Stone W Drive, Kingsport, TN 37660
Commercial Sale, Kingsport, TN
Property Size1,455 SF
Lot Size0.48 Acres
Price / SF$479.04
Days on Market138
Property Features for Stone W Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
P 1
Parking
4
Subdivision
Sevier Terrace Add
Directions
Stone Dr. to Fairmont Ave. See Sign
Standard status
Active
APN
045d K 002.00
Size
1,455 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Annual Amount
1029
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1952
Building materials
Brick
Roof type
Shingle, Asphalt
Listing Agency:
Weichert Realtors Saxon Clark KPT
(423) 765-9118
Listed By:
Todd Nickens · License #352917
(423) 967-4312
Added: May 13
Changed: Sep 13
Last Checked: Sep 27 at 1:06AM
MLS# 9995321
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 1,455-square-foot office building occupies a 0.48-acre lot in Kingsport. Built in 1952, the property has brick construction, a shingle asphalt roof, and heat-pump heating and cooling. Public water and public sewer serve the site.
The property is positioned along the 11W/Stone Drive corridor in Kingsport, Tennessee. P-1 zoning supports commercial office and professional use, providing a defined framework for an office-oriented operation. The existing configuration and building systems may suit an owner-user, professional practice, or investor, subject to buyer verification of all information.
The property is positioned along the 11W/Stone Drive corridor in Kingsport, Tennessee. P-1 zoning supports commercial office and professional use, providing a defined framework for an office-oriented operation. The existing configuration and building systems may suit an owner-user, professional practice, or investor, subject to buyer verification of all information.
Key Highlights
- 1,455 square feet of office space on a 0.48‑acre lot
- P‑1 zoning for commercial office and professional use
- Brick building constructed in 1952
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
$21,245
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
3.05%
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%
$424,900
$424.9K
Cap Rate 7%
$303,500
$303.5K
Cap Rate 9%
$236,056
$236.1K
Market Conditions
NOI Build-Up for 1,455 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
$36.3K $24.96/SF
− Vacancy
−$8.0K −$5.49/SF
EGI
$28.3K $19.47/SF
− OpEx
−$7.1K −$4.87/SF
NOI
$21.2K $14.60/SF
Area
Sullivan County, TN
Vacancy
22.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$424,900
Cap Rate 7%
$303,500
Cap Rate 9%
$236,056
Alternative Uses
Best Use
Office B
$303.5K
$265.6K – $354.1K
NOI $21,245 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$544.9K
$476.8K – $635.7K
NOI $38,141 @ 7.0% cap · market cap 5.47%
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
443
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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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - P-1 zoning supports commercial office and professional use with public utilities.
Where is this office building located?
The property is located at Stone W Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: 1,455 square feet of office space on a 0.48‑acre lot; P‑1 zoning for commercial office and professional use; Brick building constructed in 1952
