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1328 S John B Dennis Hwy
Kingsport, TN 37660
South Kingsport | Grocery Anchored · Retail Property For Sale
Executive Summary
• Opportunity to acquire a fully stabilized 33,800 square-foot Grocery-Anchored center
• Anchored by Price-Less Foods with a 33+ year Operating History
• Lack of Grocery Competition in the submarket
• Price Less ranks # 1 statewide among IGA stores with 374.9 thousand annual customer visits
• Healthy weighted average lease term (WALT) of 4.5 years
• Positioned along Route 93 (24,651 VPD) one-half mile from its interchange with I-26 (44,881 VPD)
• 5 minutes from Eastman Chemical Company Headquarters with revenue over $9.2B and 6,800 employees
• Growing population of 62,280 residents within 5-miles, complimented by new residential and re-development projects
• New Marriott Hotel developed directly behind the store, and positioned adjacent to Meadow View golf resort and convention center hotel
• Proximate to Holston Valley medical Center, a 250-bed level 1 trauma center with over 2,500 employees
• Co-anchored by neighboring Dollar General and Wesco Electrical Supply Store with a Burger King outparcel.
• Anchored by Price-Less Foods with a 33+ year Operating History
• Lack of Grocery Competition in the submarket
• Price Less ranks # 1 statewide among IGA stores with 374.9 thousand annual customer visits
• Healthy weighted average lease term (WALT) of 4.5 years
• Positioned along Route 93 (24,651 VPD) one-half mile from its interchange with I-26 (44,881 VPD)
• 5 minutes from Eastman Chemical Company Headquarters with revenue over $9.2B and 6,800 employees
• Growing population of 62,280 residents within 5-miles, complimented by new residential and re-development projects
• New Marriott Hotel developed directly behind the store, and positioned adjacent to Meadow View golf resort and convention center hotel
• Proximate to Holston Valley medical Center, a 250-bed level 1 trauma center with over 2,500 employees
• Co-anchored by neighboring Dollar General and Wesco Electrical Supply Store with a Burger King outparcel.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
33,800 SF
Building Class
C
Year Built
1993
Price
$2,401,052
Price Per SF
$71.04
Cap Rate
8%
NOI
$192,084
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
2.77 AC
Zoning
R1
Parking
157 Spaces (4.64 Spaces per 1,000 SF Leased)
Frontage
245’ on South John B Dennis Highw
Property Taxes
| Parcel Number | 076J-A-005.00 | Improvements Assessment | $829,240 |
| Land Assessment | $185,840 | Total Assessment | $1,015,080 |
Property Taxes
Parcel Number
076J-A-005.00
Land Assessment
$185,840
Improvements Assessment
$829,240
Total Assessment
$1,015,080
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