37660 Archives | Sands Investment Group

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