About 1989 East Stone Drive
Two Executive Park Place is an ideal home for a single tenant looking for a trophy space in the Tri-Cities MSA or a tremendous value play for an investor.
Executive Office available for sale, on East Stone Dr. along Commercial Corridor, at traffic lit corner and interchange.
Beautiful glass midrise structure, made up of the right hand side tower, as well as the annex between both towers (this area is condo-ed off from the adjacent tower). Neighboring tower anchor tenant is New People's Bank. Rests within highly visible corner complex at traffic light. Boasts class, location, and visibility. Priced low for value-add potential. Renovations needed.
This Tri-Cities Region Office Park is strategically located in the Kingsport market's highly trafficked primary retail corridor. This Class B prime office opportunity offers excellent visibility and accessibility to SR-93/John B Dennis Hwy & US11w/Stone Dr.
Fully glass structure and unique configuration make for a one-of a-kind flexible and creative office environment. The building is suitable for R&D,
Corporate/Business Headquarters, Admin Center, medical, high-tech, executive, government and institutional offices, and would be an ideal corporate expansion or relocation opportunity.
High traffic intersection - 27,930 AADT. Visibility from every direction and exposure to 43,901vehicles per
day.
Taxes are approx $32,550 per year.
BUILDING INFORMATION:
Size of Structure: 24,930 SF
Stories: 4
Floor Plates (1-4): 5,710 SF
Annex Floor Plate: 2,090 SF
Municipality: Kingsport
Lot Size: 1.22 AC
Parking Spaces: 70
Year Built: 1986
Zoning: B-3 Highway Oriented Business District
Construction: Steel/Masonry/Glass
Power: Main: 800A-3P-120/208V /&/ 225A 120/240V - Sub-Panels Floors 1-4: 125A
Sprinkler System: Wet
Elevator: 1
Roof: Membrane - damaged original, needs replacing
HVAC: Electric - should be replaced and updated
Utilities: All Public
Interior Ceiling Height: ±9'
Bathrooms: (2) 5-Fixture Per Floor
Flood Zone: Zone X - Areas determined to be outside the 0.2% annual chance floodplain
HIGHLIGHTS:
BEAUTIFUL INSTITUTIONAL-GRADE CLASS A BUSINESS COMPLEX FOR COMPANY HQ, FLEXIBLE OFFICE, MEDICAL, HIGH-TECH, EXECUTIVE SUITES, RETAIL & MORE
IDEAL ACQUISITION FOR AN OWNER-OCCUPIED BUSINESS OR A VALUE-INVESTOR // ROBUST TERMINAL CAP RATE UPON STABILIZATION
VIBRANT & STRATEGIC LOCATION IN THE HIGHLY TRAFFICKED PRIMARY RETAIL CORRIDOR IN THE TRI-CITIES MSA
OUTSTANDING & HIGHLY VISIBLE CORNER PARCEL AT INTERSECTION OF US-11W/STONE DR & SR-93/JOHN B DENNIS HWY
AMPLE SURFACE PARKING SURROUNDING COMPLEX // 70 SPACES
27,930 AADT /&/ 69,239 POPULATION IN 5-MILE RADIUS
EXECUTIVE SUMMARY:
PROPERTY OVERVIEW: Stunning full glass structure, warm and welcoming lobby, and unique configuration make for a one-of-a-kind creative office environment suitable for a single or multiple tenants. Single midrise tower and annex included in sale. New People's Bank anchors the neighboring tower.
EXCELLENT ACCESS TO POPULATION DENSITY: Exceptional accessibility within Kingsport's most trafficked retail trade-area and central within the overall market. Convenient access to 69,239 residents within 5 miles and highly accessible to sub-markets within the Tri-Cities MSA.
HIGH VOLUME TRAFFIC & VISIBILITY: Strategically located in the market's primary retail corridor offering excellent visibility and accessibility to the US-11W/Stone Dr & SR-93/John B Dennis Hwy interchange. Visibility from every direction and exposure to 43,901 vehicles per day.
ROBUST VALUE-ADD: Strong investment value for a buyer to add leading to high-yield back-end returns.
All information to be verified by buyer and buyer's agent.
