Crown Plaza Strip Center - Attention Investors!

Shopping Center for Sale
Also listed as Retail-Commercial, Office
Catylist Listing ID: 30645777
Property Subtypes: Mixed Use, Strip Center
Building Size (RSF): 8,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.04 Acres
Sale Price: $730,433
Unit Price: $91.30 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Crown Plaza Shopping Center
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 9/3/2020

Overview / Comments

ATTENTION INVESTORS - FULLY LEASED! For Sale - Highly visible power center on West Stone Drive in Kingsport, TN. There are four businesses in the center, H & R Block, Chinese Massage, Kravmaga and a coin laundry with two being strong long term tenants. This is a true triple net investment with tenants paying for all the pass through expenses. Asking price is calculated on a very reasonable 9% cap rate with Net Operating Income of $65,739.00.

Building is 8,000 sq ft on 1.04 acres with 35 parking spots including door front spaces and two handicapped spots. Great access via signalized intersection where Lynn Garden Drive meets Stone Drive allowing for easy ingress and egress. Super busy section of Stone Drive with a daily traffic count of 30,000 cars per day.

Current owner diligently maintains the property with patch and striping done on the parking lot in 2019 and LED lights installed on building exterior and parking area in 2018. Zoned B3. Contact agent for further details and financials.

DO NOT APPROACH TENANTS FOR ANY FURTHER INFORMATION, CONTACT THE LISTING BROKER.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 082 046A E 02500 000 2019
Zoning: B-3

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,807 39,826 65,236
Median Age: 38.84 43.41 43.7
Households: 3,938 17,786 28,639

Contact

Photograph of Listing Agent

Jacqueline Lesley Hewitt

TCI Group - Jerry Petzoldt Agency, LLC NETAR CMLS Member
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