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

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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

Contact

Photograph of Listing Agent

Richard S. Armstrong, III

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