Downtown Bristol Investment

Office for Sale
Catylist Listing ID: 30383904
Property Subtypes: Business Park, Executive Suites, Office Building
Building Size (RSF): 26,908 SF
Gross Building Area: See Agent
Gross Land Area: 0.55 Acres
Sale Price: $1,600,000
Unit Price: $59.46 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.43%
Average Occupancy Rate: 100
Last Updated: 8/13/2019

Overview / Comments

Excellent investment property is available in Downtown Bristol, TN! Located on Shelby Street between 6th and 7th Street, this 26,908 SF two-story building is fully leased by two tenants with below-market rents that allow for an increase in your investment yield. Built in 1910, the property was formerly the H.P. King Department Store, and has been partially renovated to restore the original hardwood floors and exposed brick walls. There are two elevators - one of which is brand new and opens on both sides to serve both tenants. More information is available upon request with a signed non-disclosure agreement.

From I-81: Take exit 1, then travel east on Gate City Hwy/Hwy 421. Continue straight for approx. 2.5 miles - Gate City Hwy will become State Street. Turn right onto 7th St. Take the first left onto Shelby St. Subject will be on the left in the middle of the block.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 020D F 034.00, 020D F 035.00, 020D F 035.20
Zoning: B2
Property Located Between: 6th St & 7th St
Property Visibility: Good
Highway Access: I-81
Airports: Tri Cities Regional Airport
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1910
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Private parking lot
Zoning Description: Central Business

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,149 37,931 53,938
Median Age: 40.17 40.96 42.12
Households: 3,713 16,481 23,197

Contact

Photograph of Listing Agent

John Speropulos, CCIM, SIOR

Mitch Cox Realtor, Inc. NETAR CMLS Member
Photograph of Listing Agent

Marc Murphy, CCIM

Mitch Cox Realtor, Inc. NETAR CMLS Member
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