Eastern Star Warehouse Investment Opportunity

Industrial for Sale
Catylist Listing ID: 30779966
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Truck Terminal, Warehouse/Distribution
Building Size (RSF): 26,000 SF
Gross Building Area: See Agent
Gross Land Area: 2.76 Acres
Sale Price: $1,886,700
Unit Price: $72.57 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 6/28/2022

Overview / Comments

Excellent Tri-Cities Investment Opportunity! Ideally located 26,000 sq ft industrial facility with 8,500 sq ft of paved parking on 2.76 acres occupied by a solid single lease tenant. SPI, LLC, Charlotte, NC has occupied the property under lease since February 1, 2020 running thru January 31, 2025 with a 2.0% annual rent increase and one 3-year renewal option.

The 26,000 sq ft facility is comprised of 23,000 sq ft warehouse area with 16' clear ceiling height with 4 dock doors and one drive in door. The approximately 3,000 sq ft office area has 4 offices, 2 restrooms, and a break room on the main level with additional 4 offices and a full kitchen and dining area on the mezzanine level plus additional storage areas. Zoned M 1R Commercial, the property has public electric and water and private sewer.

This property is strategically located in the heart of the Tri-Cities with immediate I-26 access via Exit 10 Eastern Star Road and within 2 miles of I-81 and I-26 interchange. Situated in an established commercial and industrial area near other businesses including Averitt Transportation, DHS Express and regionally recognized Phil's Dream Pit BBQ. Contact agent for further details including financials.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 08212002510

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,514 15,045 39,476
Median Age: 45.17 43.41 42.39
Households: 583 6,108 16,156


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