Property Description

Listing Status

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  AC:Central Air	true
  Business Type:Professional Service	true
  Business Type:ProfessionalOffice	true
  Business Type:Vacant2	true
  Contract Info:Foreclosure	No
  Development Status:Subdivided	true
  Electric Service:Phase 3	true
  Exterior Finish:See Remarks3	true
  General Property Description:# Parking Spaces	70
  General Property Description:# Restrooms	8
  General Property Description:Acres	1.22
  General Property Description:Annual Lease	0.0
  General Property Description:HOA YN	No
  General Property Description:Lease	No
  General Property Description:Lot Size2	53143
  General Property Description:Road Frontage Length	120
  General Property Description:Stories3	4.0
  General Property Description:Total SqFt Finished	24930.0
  General Property Description:Total SqFt Unfinished	0.0
  General Property Description:Zoning2	B3
  Heating:Electric	true
  Info Available:Building Plan	true
  Location Tax Legal Info:Block	1
  Location Tax Legal Info:City Taxes	14766.64
  Location Tax Legal Info:ComplexInd Park	Two Executive Park Place
  Location Tax Legal Info:County Taxes	18445.92
  Location Tax Legal Info:Deed Book #	3643
  Location Tax Legal Info:Deed Page #	2865
  Location Tax Legal Info:Plat Map	P
  Other Equipment:Basement4	true
  Other Equipment:Elevator2	true
  Other Equipment:Fire Sprinkler System	true
  Property Condition:Below Average	true
  Remarks Misc:Directions3	Exit I-26 at John B dennis, take straight all the way to East Stone, and turn left, building towers on left.
  Remarks Misc:Public Remarks7	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.
  Restrictions:See Remarks34	true
  Road Access:City Street	true
  Road Access:Highway	true
  Roof:Rubber	true
  Sale Includes:Fee Simple	true
  Sewer:Public Sewer	true
  Utilities:Electricity Available	true
  Utilities:Water Available	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

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