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    529 State St Bristol, VA 24201

    Sponsored
    For Sale
    $699,900

    COMMERCIAL - Bristol, VA

    Property size:
    3,976 SF
    Lot size:
    0.06 Acres
    Days on Market:
    22
    Last Refresh:
    Jan 20 at 3:06 am

    Property Features for 529 State St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Historic
    APN
    37 5 26a
    Size
    3,976 SF
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1911
    Building materials
    Brick
    Roof type
    Rubber

    We can help!

    Listing Contact
    Garrett Addington

    The Addington Agency Bristol (423) 845-5800

    Listing agent Garrett Addington (423) 646-1060 License #337697

    Listing date Dec 30, 2025

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Mixed-Use Bristol Jewel Box

    Located in downtown Bristol, this mixed-use property features a commercial unit and a residential loft. The ground-floor commercial unit, currently leased to a long-term tenant operating a hair salon, maintains its original charm with hardwood floors, exposed brick, and a storefront design featuring curved windows, glass panels, and a neon light sign. Upstairs, the renovated loft apartment blends modern luxury with historic charm, featuring a private entrance and secluded veranda. The master suite includes a walk-in closet and an oversized steam shower. A second full bathroom and in-unit laundry hookup add practicality. The open-concept kitchen features high-end Jenn-Air appliances, a gas range, and granite countertops that flow into the living area. A spiral staircase leads to a mezzanine with two bonus rooms. Hardwood floors, a fireplace, exposed rafters, and tongue-and-groove ceilings create a warm ambiance, while a skylight bathes the space in natural light. Facade windows overlook State Street, and woodworking and exposed brick give the loft character. The property includes private parking. Dating back to the late 1800s or early 1900s, the building offers a piece of Bristol's history. The property is strategically positioned within walking distance to everything on State St. The property's location in the vibrant downtown district allows for short term rentals to maximize revenue during major events.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Team Shear Obsession Hair Salon Wandering June Clothing Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.183145
    Latitude
    36.595127

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    FAQs

    What type of property is this?
    Mixed-use property - Charming mixed-use property in downtown Bristol with commercial and residential units.
    Where is this mixed-use property located?
    The property is located at 529 State St Bristol, VA.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: - Income-producing property: commercial space leased to a long-term tenant and a fully renovated residential loft.; - Prime downtown Bristol location, walking distance to State Street and major event venues, potential for short-term rentals.; - Rare private parking in the downtown area.
    (423) 646-1060
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    529 State St Bristol, VA 24201
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    Bristol, VA 24201
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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
    529 State St Bristol, VA 24201
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    We can help!
    Listing Contact
    Garrett Addington
    Real Estate License ID: 337697
    (423) 646-1060
    Learn more
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