Single-Tenant Industrial
Lamar Advertising
2020 Gateway Park Ct, Kingsport, TN 37663
Listing Price: $2,200,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the Lamar Advertising operating facility located at 2020 Gateway Park Court in Kingsport, Tennessee.
The 11,280-square-foot office and industrial property was constructed in 2015 and serves as Lamar Advertising's established Tri-Cities operating location, supporting regional administrative, sales, warehouse and field-service functions. The tenant recently executed a 120-month lease extension through July 31, 2035, providing long-term contractual income with annual base rent of $124,080 and a scheduled increase to $144,000 beginning August 1, 2030. Offered at $2,200,000, the investment provides a 5.64% going-in capitalization rate and a 6.55% yield on the purchase price following the contractual rent increase. The offering combines a nationally recognized tenant, embedded rent growth and functional office, warehouse and secured-yard improvements within the connected Tri-Cities market
Lamar Advertising
Investment Highlights
- Lamar Advertising has occupied the facility since 2015 and extended the lease for 120 months, running through July 31, 2035.
- Contractual base-rent increase from $124,080 to $144,000 annually beginning August 1, 2030, with two 5-year renewal options at 10% increases
- Publicly identified by Lamar as its Tri-Cities Billboard Office, supporting administrative, sales and field operations for the region.
Exclusively Listed By
Financing By
Listing Price: $2,200,000
Investment Highlights
- Lamar Advertising has occupied the facility since 2015 and extended the lease for 120 months, running through July 31, 2035.
- Contractual base-rent increase from $124,080 to $144,000 annually beginning August 1, 2030, with two 5-year renewal options at 10% increases
- Publicly identified by Lamar as its Tri-Cities Billboard Office, supporting administrative, sales and field operations for the region.
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the Lamar Advertising operating facility located at 2020 Gateway Park Court in Kingsport, Tennessee. The 11,280-square-foot office and industrial property was constructed in 2015 and serves as Lamar Advertising's established Tri-Cities operating location, supporting regional administrative, sales, warehouse and field-service functions. The tenant recently executed a 120-month lease extension through July 31, 2035, providing long-term contractual income with annual base rent of $124,080 and a scheduled increase to $144,000 beginning August 1, 2030. Offered at $2,200,000, the investment provides a 5.64% going-in capitalization rate and a 6.55% yield on the purchase price following the contractual rent increase. The offering combines a nationally recognized tenant, embedded rent growth and functional office, warehouse and secured-yard improvements within the connected Tri-Cities market
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
