2637 E Stone Dr - Storefront Retail/Office FOR SALE


Kingsport, TN 37660- Town Of Kingsport
$4,950,000 USD
202-276-2894
2637 E Stone Dr, Kingsport, TN for Sale
$4,950,000 USD
Storefront Retail/Office - FOR SALE
1/7
null | 6.72% Cap Rate

2637 E Stone Dr
Kingsport, TN 37660
Town Of Kingsport


HIGHLIGHTS

  • Shadow Anchored Retail Center Featuring National and Regional Tenants Including Jersey Mike’s, Lendmark Financial, and Stanton Optical
  • A 95 Percent Occupied Center with Value-Add Potential Through Lease-Up of 1,200 Square-Foot Inline Suite
  • Located at Signalized Intersection Directly Across from Kingsport Pavilion Power Center
  • Surrounded by Major Retailers Including Target, Lowe’s, Michael’s, and All Major Auto Dealerships in Kingsport
  • Kingsport is the Global Headquarters of Eastman Chemical (NYSE: EMN)
  • Tennessee Distinguishes Itself as One of the Few States in the U.S. that Does Not Impose a State Income Tax

OVERVIEW

Marcus & Millichap is pleased to offer for sale the Shoppes on East Stone located at 2637 E Stone Drive in Kingsport, Tennessee. This 23,876 square-foot fee simple retail center features high-quality construction and design, and is occupied by a strong mix of internet-resistant tenants. The property includes a desirable combination of national, regional, and local businesses, such as Jersey Mike’s Subs, Lumber Liquidators, Lendmark Financial Services, East Coast Wings, and a newly signed 10-year lease with Stanton Optical. The stable and diverse tenant mix ensures long-term occupancy and strong traffic generation. Built in 2011, the asset has consistently maintained high occupancy levels and presents a value-add opportunity through one vacant 1,200 square-foot suite, supported by ample parking. With a competitive average rental rate, the property offers steady returns while reducing the risks associated with tenant turnover and positioning for long-term NOI growth. Many tenants have significantly invested in their interior buildouts, further enhancing occupancy stability.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$206 USD /SF

CAP RATE

6.72%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shoppes at East Stone

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Bank, Restaurant, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

B-3

APN/PARCEL ID

047-032.60

ASK ABOUT THIS PROPERTY

Michael EarlyMarcus & MillichapMore Info
202-276-2894

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Michael EarlyMarcus & MillichapMore Info
202-276-2894

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.