604 Volunteer PkwyBristol, TN 37620

Property Details for 604 Volunteer Pkwy

Year built

1974

Lot size

150.00 AC

Property size (Sq ft)

2,754 SF

Property type

Office properties

Property subtype

Other office properties

APN

082020E F 03900

APU

082020EF03900

Description

This 2,754 square foot medical office building in Bristol, Tennessee, presents a compelling value-add investment opportunity. Located at 604 Volunteer Parkway, this single-story, 1974-built brick structure sits on a 0.3-acre lot and is zoned B-3. Currently 100% occupied across two units with a gross lease structure, the property offers immediate cash flow. The asking price is $269,000, translating to $97.68 per square foot. High traffic counts on Volunteer Parkway ensure excellent visibility and accessibility. The building's history includes uses as an insurance and legal office, showcasing its adaptability for various commercial purposes. This fee simple ownership offers significant potential for renovation and repositioning to meet the needs of future tenants. The property's strong location and current occupancy make it an attractive investment for those seeking a stable, income-generating asset with upside potential. The property features a multi-tenant setup and is a great opportunity for a new business or an expansion of an existing one. The property's history of serving small businesses, coupled with its prime location and high traffic counts, makes it a desirable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $531,444

  6.5%

  $490,564

  7%

  $455,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $226,737

  Geo Method

  $226,737

• Alternative Use

  Use

  Valuation

  Residential

  $608,299

  Hospitality

  $557,199

  Educational

  $463,583

  Medical

  $479,526

  Retail

  $721,129

Location Insight

City

Bristol

County

Sullivan

State

Tennessee

Latitude

36.5855

Longitude

-82.1858

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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