Investment Overview

Marcus & Millichap is pleased to present the investment opportunity located at 999 Executive Boulevard in Kingsport, Tennessee. The offering features a medical office asset in a highly central location and anchored by a long-term commitment from the existing tenant, who will execute a new 10-year absolute NNN leaseback at closing and provide investors with stable and predictable income. The lease structure ensures that the tenant is responsible for all operating expenses, minimizing landlord responsibilities and creating a passive investment profile. Additionally, the lease includes attractive 3 percent annual rent increases, offering consistent income growth over the hold period. While the property currently experiences higher vacancy, this presents a value-add opportunity for investors to lease remaining space and further enhance returns. Deferred maintenance is estimated at approximately $1 million, primarily related to roof and HVAC systems on one portion of the building, allowing a new owner to strategically address capital improvements and unlock additional value. The investment is further strengthened by a strong tenant presence in the market, reinforcing confidence in long-term occupancy and operational stability. Overall, this combination of secure tenancy, rental growth, and upside potential makes the property an attractive acquisition for investors seeking both income and value-add opportunities.