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Office Medical

Ballad Health

1905 American Way, Kingsport, TN 37660

Listing Price: $7,730,000

Cap Rate
7.00%
Gross SF
50,050
Rentable SF
50,050
Price/Gross SF
$154.45
Occupancy
86.0%
Year Built
1983
Lot Size
5.40 acres

Investment Overview

Marcus and Millichap is pleased to exclusively present the Ballad Health Corporate Headquarters located at 1905 American Way in Kingsport, TN. The 50,050 SF general office building was constructed in 1983, and is eighty-six percent occupied by Ballad Health, the product of a merger between Mountain States Health Alliance and Wellmont Health System in 2018. Valley Springs Spa occupies two percent of the building, leaving 6,100 SF available for future leasing. The current tenants combine for a weighted average lease term of just under seven years, and each have three percent annual rent escalations. Well positioned, the property sits just 2.5 miles away from the Holston Valley Medical Center and directly across the street from the Indian Path Community Hospital (239-bed hospital owned by Ballad Health). Located at the intersection of Interstate-93 and Lee Highway, the asset provides Ballad’s staff and executives with superior access to the entire Ballad Health footprint. Additionally, the local area has experienced significant growth with newly constructed retail centers opening over the last several years, and steady population growth over the last few decades.

Investment Highlights

  • $154 per SF
  • 88% Occupied
  • 3.00% Annual Bumps

Exclusively Listed By

Listing Price: $7,730,000

Cap Rate
7.00%
Gross SF
50,050
Rentable SF
50,050
Price/Gross SF
$154.45
Occupancy
86.0%
Year Built
1983
Lot Size
5.40 acres

Investment Highlights

  • $154 per SF
  • 88% Occupied
  • 3.00% Annual Bumps

Investment Overview

Marcus and Millichap is pleased to exclusively present the Ballad Health Corporate Headquarters located at 1905 American Way in Kingsport, TN. The 50,050 SF general office building was constructed in 1983, and is eighty-six percent occupied by Ballad Health, the product of a merger between Mountain States Health Alliance and Wellmont Health System in 2018. Valley Springs Spa occupies two percent of the building, leaving 6,100 SF available for future leasing. The current tenants combine for a weighted average lease term of just under seven years, and each have three percent annual rent escalations. Well positioned, the property sits just 2.5 miles away from the Holston Valley Medical Center and directly across the street from the Indian Path Community Hospital (239-bed hospital owned by Ballad Health). Located at the intersection of Interstate-93 and Lee Highway, the asset provides Ballad’s staff and executives with superior access to the entire Ballad Health footprint. Additionally, the local area has experienced significant growth with newly constructed retail centers opening over the last several years, and steady population growth over the last few decades.

Exclusively Listed By

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