Current Use by Public Records
- Greenacres Shopping Center / Shopping Center & Mall
- Light Cemetery / Cemetery
- Baker's Jewelry / (Bike/Boat/Book/etc) Store
Property Details for 1101 Eastman Rd
- Lot size
- 12.04 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Green Acres Shopping Center presents a compelling value-add opportunity in Kingsport, Tennessee. This 156,474 square foot, multi-tenant shopping center sits on 12.04 acres and boasts 26 tenants across three, single-story buildings. Currently operating at 16.5% occupancy, the property offers significant upside potential through leasing approximately 25,896 square feet of available space, including various bay sizes and a prime end cap. The existing tenant mix includes national, regional, and local businesses, with several having occupied their spaces for over a decade. Key anchors include Ollie's Bargain Outlet and American Freight, complemented by Dollar General, Goodwill, and Jersey Mike's Subs. The property benefits from a strong location near major retailers like Big Lots, Food City, and Walgreens, and is adjacent to Ross N. Robinson Middle School and Dobyns-Bennett High School, serving over 2,100 students. Its proximity to the Eastman Chemical headquarters, a major employer in the area, further enhances its appeal. The center features 555 parking spaces and provides opportunities for rent bumps. With a current NOI of $695,410, this property offers a significant return on investment, especially considering its location in the Tri-City area, a region with a combined population exceeding 500,000 and a substantial daily influx of workers. The property is priced far below replacement cost. This is an exceptional opportunity to capitalize on a strong market and a proven retail location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kingsport
- County
- Sullivan
- State
- Tennessee
- Longitude
- -82.5301
- Latitude
- 36.5299
