3280 Lee HwyBristol, VA 24202

Property Details for 3280 Lee Hwy

Year built

2008

Lot size

2.54 AC

Property size (Sq ft)

13,600 SF

Property type

Other commercial real estate

APN

225 A 7

APU

225A7

Description

Exceptional investment opportunity: a fee-simple interest in a 13,360-square-foot, single-story office building located at 3280 Lee Highway, Bristol, VA 24202. This Class B property, built in 2008, is currently 100% occupied by the U.S. Federal Government (Social Security Administration) under a long-term lease with four or more years remaining on the second ten-year term. The building boasts a strong pro-forma net operating income (NOI) of $251,022, yielding a compelling 7.91% cap rate. The asking price is $3,175,000, translating to $18.79 per square foot. Situated on a 2.54-acre lot with 54 parking spaces and approximately 271 feet of frontage on Lee Highway (US Route 19), this property offers excellent visibility and accessibility, across from The Falls retail development. The property is offered for sale individually or as part of a larger portfolio. Further details, including rent bump information, are available in the Offering Memorandum. This is a rare opportunity to acquire a stable, government-leased asset with significant long-term potential.

Location Insight

City

Bristol

County

Bristol

State

Virginia

Latitude

36.6305

Longitude

-82.1477

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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