Bristol Development Site

Vacant Land for Sale
Catylist Listing ID: 7026731
Property Subtypes: Industrial, Multi-Family, Office, Retail, Retail-Pad, Self Storage
Gross Land Area: 8.70 Acres
Sale Price: $995,000
Unit Price: $114,367 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/10/2017

Overview / Comments

This 8.7 acres represents a tremendous opportunity in downtown Bristol. This twin city (Bristol VA / Bristol TN) site is strategically located for multiple uses. Formerly utilized as a light manufacturing facility, the site presents very attractive economic development opportunities for professional / medical / governmental office space. Located between the two main arteries through Bristol , State Street and Euclid Avenue, the site would also be perfect for a "mixed use" or "lifestyles" development complex. The potential here is unlimited and the location is ideal.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Bristol
Zoning: M-3 MANUFACTURING
Market Type: Medium
Property Located Between: VA Hwy 421 / 11 (Euclid Ave) & TN Hwy 11 / 1 (State St)
Side of Street: East
Road Type: Paved, Highway Interchange
Legal Description: Property located at 203 Bob Morrison Blvd., City of Bristol, VA. Parcel ID 26214JJ1.
Transportation: Bus, Shuttle, Rail, Highway, Airport, Taxi
Highway Access: VA Hwy 421 / 11 (1/4 mile); TN Hwy 11 / 1 (1/4 mile); TN Hwy 19 (1/2 mile); VA Hwy 381 (1/2 mile); Interstate 81 (2.5 miles)
Airports: Tri Cities Regional Airport (10 miles); Virginia Highlands Airport ( 10 miles)
Site Description: The lot size is 8.7 acres and is topographically flat. A creek borders the property along the eastern border and establishes a portion of the property in a 300 year flood plain. Locationally, the property is ideally situated in downtown Bristol but is large enough to serve multiple purposes. At one time, this site was strongly considered for the new downtown public library and met the qualifications, as such. The real value in the site is the location and size of the lot. Mixed use development or professional office would be perfect here. Also note that Food City has plans to build a new store adjacent to this property which makes this site ideal for additional retail.
Area Description: Bristol combines the beauty of revered southern traditions with the fresh vigor of a growing community. The local economy enjoys a well-balanced industrial, agricultural and manufacturing base. Bristol's industrial base includes batteries, electronics, pharmaceuticals, mining machinery, aluminum products, compressors, apparel, textiles, copper wire, vacuum cleaner and food products. Bristol is constantly seeking potential new industries for the host of well-equipped industrial sites. The Bristol Area has a labor force of 80,000 and an unemployment rate of only 4.4 percent. Major employers in the area are the school systems, Bristol Regional Medical Center, Bristol Compressors, Sprint United Telephone-Southeast, Exide Corporation, Reynolds Metal Company, The United Company, King Pharmaceuticals, Aerus Electrolux, GlaxoSmithKline Pharmaceuticals, Marley Mouldings and CAMAC. One of the greatest facilitators to Bristol's economic growth through the years has been its accessibility and well-organized transportation connections. Located within a day's drive of more than 70 percent of the U.S. population, the Twin City is served by more than 50 motor freight carriers and two railroads. Outstanding air service is available through the Tri-Cities Regional Airport,TN/VA, which offers jet and air carrier service. The facility offers service to more than 100 cities. Information Sources: http://www.bristoltn.org/aboutthecity.cfm http://www.bristolchamber.org/ http://www.visitbristoltnva.org/
Lot Frontage: 912
Lot Depth: 443
Zoning Description: Property type is Commercial with land use types both Commercial & Industrial.
Development Name: Morrison Blvd
Topography: Level
Easements: Utilities
Easements Description: Underground electric easement.
Soil Type: Gravel

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,203 36,080 57,200
Median Age: 38.87 40.87 42.22
Households: 4,192 15,677 24,600

Contact

Photograph of Listing Agent

Gregory S Little, MBA

Covenant Commercial Group NETAR CMLS Member
© Copyright Northeast Tennessee Association of REALTORS┬«. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS┬« nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.