10368 Wallace Alley - Professional Office Complex - VIDEO TOUR

Office for Sale
Catylist Listing ID: 30001872
Property Subtypes: Business Park, Executive Suites, Governmental, High-Tech, Institutional, Medical, Mixed Use, Flex Space, Research & Development, Other
Building Size (RSF): 24,000 SF
Gross Building Area: See Agent
Gross Land Area: 4.44 SF
Sale Price: $1,507,750
Unit Price: $62.82 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 9.94%
Last Updated: 9/21/2017

Overview / Comments

Professional Office Complex at Northeast Tennessee Business Park now For Sale. Originally 20 offices of 1,200 square feet each in a single level building, each suite nicely maintained with separate cabling and utilities. Tenants in place are Networks Sullivan Partnership, Stonegate Mortgage, Advantage Sales & Marketing, GEO Services, and Jani King of the Tri-Cities with 8 suites currently vacant. Proforma CAP is 9.949. Building sits on 4.44 acre parcel, see attached plat, property identified as Lot 2R1. Property could be further subdivided with regulatory approval. Suites also for lease, see separate listing. Suited to owner-occupied or investor of professional, corporate, financial or governmental office facilities.

The Northeast Tennessee Business Park is a 150 acre park designated a FOREIGN TRADE ZONE and designed to accommodate professional office, technology, service businesses and light industrial users

Central Tri-Cities location with immediate access to I-81, Tri-Cities Regional Airport and Northeast State Community College. Multiple office and industrial facilities within this popular business park are available, view VIDEO TOUR link and attached property brochure for overview of the 5 property portfolio.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Sullivan
Zoning: MX-MULTIPLE USE

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,156 8,202 41,268
Median Age: 47.95 44.65 43.66
Households: 831 3,272 17,142
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