3101 Highway 421Bristol, TN 37620

Property Details for 3101 Highway 421

Year built

1989

Construction

FRAME

Lot size

1.23 AC

Property size (Sq ft)

2,400 SF

Zone code

B-3

Property type

Retail properties

Property subtype

Retail space

APN

082055 04300

APU

8205504300

Description

This exceptional 2,600 square foot commercial property, situated on a 1.23-acre lot at 3101 Highway 421 in Bristol, Tennessee, presents a compelling investment opportunity. Conveniently located just three miles from Bristol's city limits, this B3-zoned property enjoys proximity to the Hard Rock Casino and South Holston Lake, offering significant potential for a variety of commercial ventures. The building has undergone a substantial renovation, boasting a brand-new roof and gutters, ensuring long-term structural integrity. Further enhancements include the installation of two new vacuum systems, a completely updated septic system, and new water lines, significantly improving the property's functionality and efficiency. These recent upgrades minimize immediate maintenance needs, allowing for a seamless transition for the new owner. The ample 1.23-acre lot provides considerable space for expansion or outdoor activities, adding to the property's overall value and versatility. The B3 zoning opens doors to a wide range of commercial uses, making this property an attractive prospect for entrepreneurs and investors alike. All information provided is based on tax records and owner statements and should be independently verified by the buyer. The asking price for this meticulously updated commercial property is $489,850.

• CAP approach

  CAP return

  Valuation

  6%

  $680,804

  6.5%

  $628,435

  7%

  $583,547

• Comparable approach

  Method

  Valuation

  Relative Method

  $497,932

  Geo Method

  $497,932

• Alternative Use

  Use

  Valuation

  Residential

  $530,108

  Hospitality

  $485,576

  Educational

  $403,994

  Medical

  $417,888

  Retail

  $628,435

Location Insight

City

Bristol

County

Sullivan

State

Tennessee

Latitude

36.5431

Longitude

-82.1344

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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