The property at 2060 Fort Henry Dr., Kingsport, TN 37664, is a 13,416 square foot, two-story building constructed in 1998, classified as Building Class B. It is currently available for sale or lease, with a listing price of $4,000,000 and a rental rate of $16.00/SF/YR on a 10-year triple net lease. The property spans 1.89 acres and is zoned GC - Commercial, offering versatility for potential investors. Crucially, it was originally built for a SunTrust bank, and any previous restrictions on banking use expired on February 23, 2025, making it fully eligible for banking operations. The building's design includes a drive-thru feature, which is particularly valuable for banks, and it boasts ample parking with a ratio of 2.68/1,000 SF. The property's frontage of 171 feet on Fort Henry Dr. ensures high visibility, and it is described as being in excellent shape, requiring minimal renovations for banking use. Strategic Location and Accessibility - The property's location on a corner lot with significant frontage on Fort Henry Dr. is a key advantage. Research indicates that Fort Henry Dr. sees over 20,000 vehicles per day (VPD), ensuring high traffic exposure, which is critical for attracting walk-in and drive-thru customers. The presence of a prominent pylon sign further enhances visibility, making the property stand out in the bustling commercial landscape. Accessibility is enhanced by the property's proximity to major retailers and businesses, including Truist, First Horizon Bank, Starbucks, Food City Pharmacy, and 7 Brew Coffee. This clustering suggests a commercial hub suitable for banking services, with existing customer traffic that could benefit a new bank. The drive-thru feature adds convenience, catering to customers who prefer quick transactions without leaving their vehicles. Demographic and Economic Context - Kingsport, TN, has a population of approximately 55,442 as of the 2020 census, with projections indicating a 2.9% increase from 2023 to 2028. The median age is 42.8 years, and the median household income is around $50,436, with an average household income of $79,333. These demographics suggest a stable and growing population with financial needs, such as mortgages, savings accounts, and investment services, that a bank can serve. Consumer spending is projected to exceed $1.1 billion in 2028, indicating significant economic potential. The poverty rate is 20.78%, higher than the national average of 12.4%, which may suggest a need for banking services that cater to lower-income households, such as affordable loans and financial education. Recent Developments and Growth Trends - Kingsport is experiencing a wave of construction and development, which further supports its suitability for a bank. In 2022, the city issued 314 permits for new residential developments, a 131% increase over pre-pandemic averages, and this trend continued into 2023, with over 220 building permits for single-family homes valued at $72 million. Commercial construction, particularly in retail and restaurants, added nearly $9.7 million in new development, indicating a vibrant local economy. The housing boom is expected to bring over 1,000 new students to the school system and generate about $375 million in new home sales, stimulating the economy and increasing demand for banking services. Strategic planning initiatives, such as hiring a development coordinator and streamlining approval processes, have made Kingsport an attractive place for developers and builders, fostering a pro-business environment. Space Suitability and Operational Fit - The building's 13,416 square feet on the first floor is fully built-out as a professional services office, with a mostly open floor plan layout suitable for 34-108 people. This space is ideal for banking operations, accommodating teller stations, customer service areas, and private offices for financial advisors. The existing infrastructure, designed for banking, includes features like the drive-thru, which aligns with industry standards for customer convenience. The property's parking ratio of 2.68/1,000 SF ensures ample space for customers, which is crucial given the area's car-dependent nature. The corner lot location further enhances accessibility, making it easy for customers to enter and exit, especially during peak banking hours. Competitive and Market Analysis - The presence of nearby banks like Truist and First Horizon Bank indicates that the area is already recognized as suitable for financial institutions. This competition suggests a viable market, with potential for a new bank to capture market share by offering competitive services or targeting underserved segments, such as lower-income households or small businesses. The commercial zone's versatility, combined with the property's strategic location, positions it well to serve both individual customers and businesses. The projected consumer spending of over $1.1 billion in 2028 highlights the economic potential, making it attractive for long-term investment in banking services. Cost and Practical Considerations - The property is listed for sale at $4,000,000, with a rental rate of $16.00/SF/YR, which translates to $214,656 annually or $17,888 monthly on a triple net lease. For a bank, the existing infrastructure reduces initial capital expenditure, as minimal renovations are needed. The long-term lease option provides flexibility for investors, and the property's alignment with growth trends suggests a strong return on investment. For a bank considering expansion or relocation, 2060 Fort Henry Dr. offers a strategic location with high visibility, accessibility, and suitability for banking operations. The property's existing infrastructure, designed for banking, combined with Kingsport's demographic and economic growth, makes it an ideal choice. Stakeholders should consider the competitive landscape and target underserved market segments to maximize market share. Given the city's ongoing development and fiscal stability, this location is poised for long-term success in the banking sector.