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    509 Shelby Street Bristol, TN 37620

    View on Map
    For Sale
    $749,900

    COMMERCIAL - Bristol, TN

    Property size:
    25,758 SF
    Lot size:
    0.21 Acres
    Added:
    Dec 1, 2025
    Days on Market:
    121
    Last Refresh:
    Apr 1 at 4:06 pm

    Property Features for 509 Shelby Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B2
    Parking
    24
    Standard status
    Active
    APN
    021a A 034.00
    Size
    25,758 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    2750

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Electric (Heating)
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1925
    Building materials
    Brick
    Roof type
    Rubber, Shingle

    We can help!

    Listing Contact
    Ed Mahaffey
    Ed Mahaffey

    Listing agent Ed Mahaffey License #355986

    Listing office TCI Group - Jerry Petzoldt Agency, LLC 5 Red Bush Court Suite 20, TN

    Listing date Dec 1, 2025

    MLS# 9988997

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Bristol Commercial Redevelopment Opportunity

    Located in the heart of Bristol's revitalized downtown district at 509 Shelby Street, this commercial property offers 25,758 square feet of historic character and redevelopment potential. The property consists of four connected buildings on three separate parcels. Originally built in 1925, the structure retains preserved craftsmanship, including 16-inch Redwood support beams, a saw-tooth roof design, 3/4-inch white oak and white pine floors, exposed brick walls, large entry doors, and wood-framed windows. The property also features 2,574 square feet of two-level office space. The B2 zoning district supports retail, food and beverage, entertainment, professional services, creative studios, light production, and mixed commercial uses. The property is suited for a period-style restaurant, craft brewery, event venue, artisan market, or a destination for nightlife and entertainment. The property's architectural appeal, walkable location, and proximity to Bristol's downtown amenities create an ideal platform for repositioning or redevelopment. The lot size is 0.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bristol Wreath & Floral — Bristol, TN 37620
    • Kroger Floral — 31 Midway St, Bristol, VA 24201

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.182452
    Latitude
    36.593848

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    FAQs

    What type of property is this?
    Storefront property - Unique 25,758 SF property in revitalized downtown Bristol.
    Where is this storefront property located?
    The property is located at 509 Shelby Street Bristol, TN.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: Prime Downtown Bristol Location: High visibility and accessibility in the revitalized downtown.; Significant Redevelopment Potential: B2 zoning allows for diverse commercial uses.; Substantial Square Footage: Features 25,758 SF across four connected buildings.
    (423) 430-4215
    We can help!
    Listing Contact
    Ed Mahaffey
    Ed Mahaffey
    Real Estate License ID: 355986
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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