1905 American Way | Kingsport, TN 37660
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1905 American Way
Kingsport, TN 37660
Wellmont Corporate Building · Office Property For Sale
Investment Highlights
- Health System HQ – Medical tenants are known for being stable in office space. While the anchor tenant serves as HQ, their long-term tenancy remains r
- Sticky Tenancy – This location is pivotal for Ballad Health as it houses their C-suite executives and data center for the Health System.
- Income Tax Free State – Tennessee is one of the nine states with no personal income tax.
- Annual Rental Increases– Maintain growth of your investment dollars by hedging against inflation with the above market rental increases
- Credit Anchor Tenant – Ballad Health has a Moody’s A3 rating with a stable outlook due to its improved quality and lower costs.
- Easily Accessible – Located at the intersection of US Hwy 11W and John B Dennis Hwy, this location is easily accessible from surrounding states
Executive Summary
Matthews Healthcare Division, in conjunction with RealINSIGHT Marketplace, is please to offer to qualified investors the 50,000 SF office building in Kingsport, TN anchored by Ballad Health as their central headquarters. Ballad is a credit rated (A3 Moody’s) Health System serving 29 counties in the tri-state area and currently occupies nearly 86% of the subject property. Two Ballad Hospitals are within 2.5 miles from this property and adjacent to the intersection of two major highways, providing easy navigation and accessibility to the property. Ballad hosts its C-suite and data center at this location, providing a high likelihood of long term tenancy along with it’s strategic location for its network of 20 hospitals.
This property will be brought to auction on February 12th, 2025. This is a rare opportunity to acquire a fully occupied asset with above market rental increases in an income tax free state.
https://rimarketplace.com/auction/2338/ballad-health-hq-credit-anchor-tenant-kingsport-tn?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2338
This property will be brought to auction on February 12th, 2025. This is a rare opportunity to acquire a fully occupied asset with above market rental increases in an income tax free state.
https://rimarketplace.com/auction/2338/ballad-health-hq-credit-anchor-tenant-kingsport-tn?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2338
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Property Subtype
Building Size
50,050 SF
Building Class
B
Year Built
1983
NOI
$953,798
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
50,050 SF
Building FAR
0.21
Lot Size
5.35 AC
Zoning
C - Commercial
Parking
268 Spaces (5.36 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
PROPERTY TAXES
| Parcel Number | 047P-A-005.20 | Improvements Assessment | $1,907,120 |
| Land Assessment | $254,440 | Total Assessment | $2,161,560 |
PROPERTY TAXES
Parcel Number
047P-A-005.20
Land Assessment
$254,440
Improvements Assessment
$1,907,120
Total Assessment
$2,161,560
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