1031 EXCHANGE PROPERTY 3365 E Stone Dr 11,782 SF Industrial Building Kingsport, TN 37660 $1,550,000 ($131.56/SF) 6% Cap Rate

GREAT 1031 PROPERTY. For investors seeking a premier 1031 exchange prospect, this property presents an exceptional opportunity. The national tenant has maintained operations at this site for more than 16 years and holds multiple five-year renewal options that include scheduled rent increases. This asset offers a robust triple-net (NNN) income stream featuring a 6.0% CAP rate. Situated on Highway 11W in Kingsport, TN, the facility serves as a hub for a regional distribution firm.
Originally constructed in 1974, the building has recently undergone extensive upgrades, including a new membrane roof, fresh interior and exterior paint, and new flooring throughout the office section. Additional improvements include high-intensity exterior security lighting and a freshly striped parking area.
Key physical attributes include an 11,800-square-foot metal structure positioned on a 4.2-acre lot. The interior comprises 2,350 square feet of dedicated office space, while the warehouse features a 22-foot clear ceiling height and 28 dock-high doors. The entire perimeter is fenced, and the site is zoned M-1. Investors should act quickly to secure this fully renovated, long-term income-producing asset backed by a reliable tenant.