The Village at Allandale — Sale in Kingsport, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Kingsport, TN 37660
  • Year built: 2003

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Description

The Village at Allandale is a three-building memory care and assisted living campus at 100 Strickland Court, Kingsport, Tennessee. Built in 2003 and 2010, the 30,816-square-foot campus sits on 5.86 acres with 42 rooms configured as 76 beds and a state license for 78 residents. Virginia's Garden and Yesterday's Place are secured memory care. Margie's Meadow is assisted living. The community is staffed, licensed and running, but half full. At the August 2026 census, 42 residents were in place and 21 beds were open. Trailing twelve-month revenue was $2,238,482 against $2,554,434 in operating expense. The loss is an occupancy problem, not a building problem. Seventeen residents are on TennCare CHOICES; the rest are private pay. The upside is straightforward. New admissions come in at the rate card, $4,000 to $4,200 semi-private and $5,500 to $6,200 private. Every bed filled puts scheduled rent near $3.7 million a year, and private-pay residents already in place add $117,000 a year when moved to card. The campus is in a Qualified Opportunity Zone and offered at $3,500,000, 79% of the 2025 county tax appraisal. Sold as a going business with its real estate. The state license does not transfer; a buyer applies under its own entity. Investment Highlights: • Memory care campus with assisted living. Three buildings, 42 rooms, 76 beds on 5.86 acres in Kingsport. Two buildings are secured memory care. • 21 open beds. Filling them at today's rate card takes scheduled rent from $2.1 million to $3.7 million a year, inside the existing walls. • Private-pay residents are below the current rate card. Moving them to card adds $117,000 a year with no new admissions. • $3,500,000 asking, 79% of the county's 2025 tax appraisal of $4,444,400. $46,053 per bed. • Qualified Opportunity Zone through 2028. Hawkins County Census Tract 506.01.

Market Context

This commercial property in Kingsport, TN is listed for sale. The building dates to 2003. Compare it against other commercial property listings for sale in Kingsport, TN — view the full market.

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