1526 Stone Dr Kingsport, TN 37660

Property Details for 1526 Stone Dr

Year built

1982

Lot size

60.00 lot acres

Property size

2,210 SF

Zone code

91

Property type

Office Properties & Spaces

APN

082046L B 01010

APU

082046LB01010

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,210 square foot storefront located at 1526 E Stone Dr, Kingsport, TN 37660. The property, built in 1982 and completely renovated in 2022, sits on a 0.33-acre lot (60' x 238') with ample paved parking at the front and rear, accessible from both Stone Drive and Bridgewater Lane. Currently occupied at 100% capacity by a single tenant under a Net Lease (NNN) agreement, the property boasts a strong 5.89% cap rate and a substantial NOI of $44,200. The seven-year lease commenced April 30, 2022, with a five-year renewal option including a 10% rent increase. The tenant, Apotheca, a five-star rated regional dispensary, offers a variety of natural health products. This prime retail location is situated in a high-traffic area of East Stone Drive, between O'Reilly Auto Parts and Appalachian Community Federal Credit Union, benefiting from excellent visibility and pylon signage. The property is zoned B-3 and offers a compelling return on investment, supported by the tenant's multi-state presence and planned expansion. Detailed financial information is available upon request. This is a turnkey investment ready for immediate income generation.