3016-3020 Brookside Dr - Warehouse FOR SALE


Kingsport, TN 37660- Town Of Kingsport
$1,791,000 USD
310-977-1651
3016-3020 Brookside Dr, Kingsport, TN for Sale
$1,791,000 USD
Warehouse - FOR SALE
1/4
null | 6.7% Cap Rate

3016-3020 Brookside Dr
Kingsport, TN 37660
Town Of Kingsport


OVERVIEW

STRONG NATIONAL CREDIT TENANT – Founded in 1969 with over 300 locations nationwide, TruGreen is America’s #1 largest lawn care company (30% market share), serving more than 2.3 million residential and commercial customers across the United States with lawn, tree, and shrub care services. The company employs approximately 15,000 associates and generates an estimated $2 Billion in annual revenue. BELOW-MARKET RENT & DISCOUNT TO REPLACEMENT COST – TruGreen is currently paying $4.93/SF, significantly below market rents that reach $8.45/SF according to CoStar. Supported by a tight ±4% vacancy rate, the property offers compelling long-term mark-to-market potential. At approximately $73 Price/SF, the acquisition basis is substantially below replacement cost, providing investors with both downside protection and future rent growth upside. INDUSTRIAL NNN LEASE / 2.50% ANNUAL RENT INCREASES – The property is secured by a passive 10-year industrial NNN lease that commenced in 2022 and features 2.50% annual rent increases, providing investors with predictable cash flow growth and a built-in hedge against inflation. The Industrial NNN structure minimizes landlord responsibilities while offering stable, long-term income backed by an established national tenant. PRIME TRI-CITIES, TENNESSEE LOCATION — Kingsport serves as a key economic anchor of Tennessee’s Tri-Cities region, one of the Southeast’s most established and economically resilient metropolitan areas and home to Fortune 500 company Eastman Chemical. The property benefits from great connectivity via Interstates 26 and 81, providing direct access to major freight and logistics corridors throughout the Southeast and Mid-Atlantic. This strategic location offers efficient access to key markets including Knoxville, Nashville, Charlotte, and the broader Appalachian region, supporting long-term industrial and service-oriented operations. INCOME TAX FREE STATE – Tennessee benefits from no state income tax offering significant financial advantages for businesses and investors, enhancing profitability and making it an attractive location for long-term growth and investment.

FOR SALE DETAILS

PRICE

$1,791,000 USD

PRICE/SF

$74 USD /SF

CAP RATE

6.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

UTILITIES

-

CLEAR CEILING HT

20 Ft

DOCKS

4

DRIVE INS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

2.4

LAND SF

104,544

ZONING

IL

APN/PARCEL ID

031I-D-007.05

ASK ABOUT THIS PROPERTY

Alexander HarroldMatthews Real Estate Investment ServicesMore Info
310-977-1651

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Alexander HarroldMatthews Real Estate Investment ServicesMore Info
310-977-1651

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