100 Emory Ln, Kingsport, TN 37660
37,320 SF Specialty Building Offered at $1,650,000 in Kingsport, TN 37660
For Sale
Active
Asking Price $1,650,000
- Property Type
-
Specialty
- Square Feet
- 37,320 SF
- Price / Square Foot
- $44
Listing Contacts
John Moody
Property Overview
Located in Northeast Tennessee in the Bloomingdale Area of the City of Kingsport. It is on
the site of a former Elementary school. This 39,000 square foot building has been transformed
into an Excellent CLIMATE CONTROLLED FACILITY. The facility offers controlled access to it’s
customers as well as security lighting for added security. Featuring 193 Units, Loading dock,
Two Large Office/Storage Spaces, plus a 6000sf separately leased space. It has a New Metal Roof,
New HVAC, New wiring & Electrical Panels, plus 3 Acres to Develop additional open spaces for
RV & Equipment Storage. At $1,650,000 the Kingsley Storage is attractively priced at $42.30/ft
providing the Investor an estimated 11.0% Cap Rate plus the Opportunity to continue developing
the vision of the current owner/operator. While the in-place yields are slim, the opportunity
to add spaces and grow the income will reward the investor within 2 years with at least a 14.0%
Cap Rate. Seller will Consider OWNER FINANCING!
the site of a former Elementary school. This 39,000 square foot building has been transformed
into an Excellent CLIMATE CONTROLLED FACILITY. The facility offers controlled access to it’s
customers as well as security lighting for added security. Featuring 193 Units, Loading dock,
Two Large Office/Storage Spaces, plus a 6000sf separately leased space. It has a New Metal Roof,
New HVAC, New wiring & Electrical Panels, plus 3 Acres to Develop additional open spaces for
RV & Equipment Storage. At $1,650,000 the Kingsley Storage is attractively priced at $42.30/ft
providing the Investor an estimated 11.0% Cap Rate plus the Opportunity to continue developing
the vision of the current owner/operator. While the in-place yields are slim, the opportunity
to add spaces and grow the income will reward the investor within 2 years with at least a 14.0%
Cap Rate. Seller will Consider OWNER FINANCING!
Property Details
- Class
- C
- Year Built
- 1938
- Stories
- 2
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 161,172 SF
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