The Cumberland Building
Retail-Commercial
for Sale
| Catylist Listing ID: |
30785902 |
| Property Subtypes: |
Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
|
| Building Status: |
Proposed |
| Building Size (RSF): |
7,800 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.40 SF
|
| Sale Price: |
$1,750,000 |
| Unit Price: |
$224.36 PSF |
| Property Use Type: |
Investment, Business |
| Usable Size (USF): |
7,800 SF |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
65 |
| Last Updated: |
5/2/2022 |
Overview / Comments
|
THE CUMBERLAND BUILDING, one of downtown Bristol's finest renovations in many years, is now available For Sale. This building is currently waiting on a new Restaurant to takes is its remaining vacancy in the building. Located on a strong corner across from the Birthplace of County Music Museum, this fine complex has been completely renovated with Four (4) Lofts, which include individual outdoor space (decks), and their own parking spaces! Very few downtown lofts provide this level of amenity. All the lofts were redone to a very high level with full sized stainless steel appliances, washer/dryer, granite counter tops, hardwood floors and a great downtown location. The Owner's are now interested in Selling so this new endeavor for a new Investor is now an option. Yes, the entire parking lot is part of this Sale. On the ground floor an Attorney has his office and we're looking for the next great downtown restaurant to fill the remaining space which fronts on Moore Street. The pictures won't do justice, and must be seen to be appreciated.
|
Additional Details
| Nearest MSA: |
Kingsport-Bristol |
| County: |
Bristol |
| Taxing Authority: |
City of Bristol, VA |
| Tax ID/APN: |
37-3-9 |
| Zoning: |
B-2 |
| Retail Clientele: |
General, Other |
| Property Located Between: |
State Street and Cumberland Street, downtown Bristol, VA |
| Largest Nearby Street: |
Cumberland Street |
| Highway Access: |
Property has direct access on to Cumberland Street, and the adjoining alley. |
| Airports: |
TRI - Tri Cities Regional Airport; Highlands Community Airport |
| Site Description: |
Level site, in the middle of downtown Bristol, next to the Birthplace of County Music Museum, which is next to the Bristol Hotel and many other downtown attractions included the New Micheal Waltrip Brewery. |
| Area Description: |
Downtown Bristol, one of the area's best Downtown's. One block from State Street, across the Street from the Birthplace of County Music, Cumberland Park, Blackbird Bakery, the Bristol Hotel and so much more! |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
2 |
| Number of Stories: |
2 |
| Typical SF / Floor: |
3,900 SF |
| Property Condition: |
Excellent |
| Year Built: |
1956 |
| Year Renovated: |
2020 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block, Brick |
| Total Parking Spaces: |
26 |
| Parking Type: |
Surface |
| Parking Description: |
Parking lot is part of the premises |
| Sprinklers: |
Wet |
| Heat Type: |
Electricity |
| Heat Source: |
Ceiling Units |
| Air Conditioning: |
Package Unit |
| Internet Access: |
Cable, DSL |
| Zoning Description: |
B-2 |
| Lot Frontage: |
177' |
| Lot Depth: |
118' |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Fee Simple |
| Legal Description: |
Upon Request |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
11,232 |
37,931 |
55,300 |
| Median Age: |
39.05 |
40.96 |
42.13 |
| Households: |
5,062 |
16,481 |
23,741 |
|
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