Medical and Office Portfolio

Sheridan Square Portfolio | Kingsport, TN

Sands Investment Group is Pleased to Present For Sale the Medical and Office Portfolio Located in Kingsport, Tennessee. The Property Boasts a Strong Mix of Local Medical Users as Well as National Office Tenants Providing a Robust Investment. The Property is Currently 95.37% Occupied Providing an Excellent Stabilized Investment Opportunity. Located 1.5-Miles From Downtown Kingsport and Less Than 1-Mile From I-26, Sheridan Square Has Excellent Accessibility.

  • Stabilized – 95.37% Occupancy With the Opportunity to Increase Rent to Market Upon Renewals
  • Building Upside is Reflected By Strong IRR’s That Are Achievable Through Bringing Rents Up to Market and Converting All Tenants to Triple Net (NNN) Leases
  • Strong Historical Occupancy – The Property Has a Strong Record of Tenant Retention With Only One Tenant Vacating the Premises Under Current Ownership
  • No Competition – No New Office Buildings Delivered to the Kingsport Market in the Last 12 Months and There Are Currently No Buildings Under Construction; The Current Market Vacancy Rate is a Very Low 5%
  • Class A Office and Medical Office NNN Portfolio Located in Kingsport’s Premier Office Park
  • Good Tenant Mix – The Portfolio Consists of a Mix of Medical Users and National Office Tenants
  • Professionally Managed Properties With Long-Term Tenure; Contact Broker For Management Information
  • Located 0.5-Miles From Eastman Chemical Plant Which is the Largest Employer in Kingsport
  • Strong Location – Sheridan Square Has Great Accessibility, Located Less Than 1-Mile From I-26 (48,996 VPD) and 1.5-Miles From Downtown Kingsport
  • Average Market Rent For 4-5 Star Office Properties in the Kingsport Area is $25.22/SF Full Service
  • Strong Demographics With 65,795 People Within a 5-Mile Radius With an Average Income of $66,483
  • Nearby Tenants Include: Walmart, Dollar General, McDonald’s, Wendy’s, Holiday Inn Express & Suites and Hampton Inn

In Cooperation With: Sands Investment Group Tennessee, LLC

Lic. #263973 BoR: Kaveh Ebrahimi Lic. # 344496

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