Catylist ID:
#30779966
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
|
PRICE REDUCED!! 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. |
Attachments & Media
Additional Details
| Nearest MSA: | Kingsport-Bristol |
| County: | Sullivan |
| Tax ID/APN: | 08212002510 |
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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