WAMS, GP

Office for Sale
Catylist Listing ID: 30034999
Property Subtypes: Executive Suites, Medical, Office Building
Building Size (RSF): 14,648 SF
Gross Land Area: 1.88 Acres
Sale Price: $2,478,000 - 2,990,000
Unit Price: $169.17 - 204.12 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Bristol Neurological Building
Class of Space: Class B
Usable Size (USF): 14,648 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/30/2018

Overview / Comments

Situated along W. State Street (Hwy 11 W) within 1 mile of Bristol Regional Medical Center, Interstate 81, and within 2 miles of the new Pinnacle Retail Development is the Bristol Neurological Building. The property is available to the market as an investment opportunity with the possibility of two long term professional Tenants, one of which is the current Owner of the building, thus creating a Sale/Leaseback situation. Built in 1990, this building has been extremely well maintained and is well suited for a number of medical and/or professional disciplines to occupy. With large offices, meeting rooms, procedure rooms, administration, filing, reception and private doctors offices the Bristol Neurological building is flexible and well appointed.
The roof and HVAC units have been replaced on a maintenance schedule and are in excellent functioning condition.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Sullivan
Taxing Authority: Sullivan County
Tax ID/APN: 019 174.20
Zoning: B-3
Property Located Between: Hwy 126 and Interstate I-81
Property Visibility: Excellent
Highway Access: Property fronts along Hwy 11 W, and is within a mile of the entrance ramp to I-81 north and less than 2 miles to I-81 south and the Pinnacle retain development at Exit 74, I-81.
Airports: TRI - Tri Cities Regional Airport; Highlands Community Airport
Site Description: Two level property for individual professional entrances on either Tenant. Located along Hwy 11W.
Area Description: Located along Hwy 11 W (W. State Street) and is considered part of the medical corridor of Bristol.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 7,324 SF
Year Built: 1990
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Building was built with functional design lines and constructed of decorative molded block, with embedded color for long term low maintenance. Landscaping is conducive to the structure and in not invasive or require a high level of maintenance.
Parking Ratio: 0.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Two levels of parking provide 85 total parking spaces (58 upper level, 27 lower level).
Total Parking Spaces: 85
Sprinklers: None
Heat Type: Electricity
Heat Source: Ceiling Units, Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable, T1/T3, Gigabit, Dialup, Other
Interior Description: Well maintained carpeted areas, with high gloss vct flooring in a number of areas of high traffic and procedure rooms. Colors and aesthetics are very pleasing and comforting for patients and provide for a conducive working evironment.
Zoning Description: B-3, provides for the highest level of business use via office space, medical use, as well as retail space within the City of Bristol, Tennessee.
Lot Frontage: 50'
Lot Depth: 560'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities, Other
Easements Description: Drainage easement, and access easement through southern boundary for limited access.
Land Ownership: Fee Simple
Legal Description: Upon request.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,563 17,889 51,279
Median Age: 41.22 43.87 41.81
Households: 722 8,032 21,842

Contact

Photograph of Listing Agent

Richard S. Armstrong, III

TCI Group - Lowry & Foster, Inc. NETAR CMLS Member
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