4414 Stone DrKingsport, TN 37660

Property Details for 4414 Stone Dr

Year built

2004

Lot size

0.65 AC

Property size (Sq ft)

3,381 SF

Zone code

B-3

Property type

Retail properties

Property subtype

Drive through restaurants

APN

037022 03300

APU

3702203300

Description

This exceptional investment opportunity presents a freestanding Pizza Hut restaurant located at 4414 W Stone Drive, Kingsport, Tennessee, 37660. The property, built in 2004, boasts 3,365 square feet on a 0.65-acre lot and is situated in a high-traffic area with approximately 50,000 cars passing daily. The property is zoned B-3 and features a single-story building. The current tenant, a Pizza Hut franchisee, holds a Net Lease (NNN) agreement with a remaining lease term of approximately 1.1 years, expiring December 31, 2025. The original lease commenced September 9, 2003, and has a total lease term of 22.3 years. The property enjoys 100% occupancy since its opening on September 9, 2003, generating a Net Operating Income (NOI) of $45,748, resulting in a 5.23% capitalization rate. The asking price is $875,000, translating to a price per square foot of $260.03. The property's location benefits from the presence of new businesses in the area, including Scooters Coffee and Wiegel's Gas Station, further enhancing its investment potential. This is a rare opportunity to acquire a well-established, high-performing restaurant in a thriving commercial area. The property's strong tenant, favorable lease terms, and attractive financial metrics make it an ideal addition to any investment portfolio. The Hawkins County Assessor's Parcel Number (APN) is 037022 03300.

• CAP approach

  CAP return

  Valuation

  6%

  $959,084

  6.5%

  $885,308

  7%

  $822,072

• Comparable approach

  Method

  Valuation

  Relative Method

  $701,462

  Geo Method

  $701,462

• Alternative Use

  Use

  Valuation

  Residential

  $746,790

  Hospitality

  $684,056

  Educational

  $569,127

  Medical

  $588,700

  Retail

  $885,308

Location Insight

City

Kingsport

County

Hawkins

State

Tennessee

Latitude

36.5523

Longitude

-82.6279

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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