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    Indoor Sportsplex with Restaurant & Bar Title is generated by Realmo AI

    109 Raytheon Road, Bristol, TN 37620

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    For Sale
    $5,995,000

    COMMERCIAL - Bristol, TN

    Property size:
    54,250 SF
    Lot size:
    10.00 Acres
    Price / SF:
    $110/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 109 Raytheon Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B3
    Standard status
    Active
    APN
    037n A 028.00
    Size
    54,250 SF
    Lot size
    10.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7145

    Utilities

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

    Building Details

    Year built
    1975
    Building materials
    Metal Siding
    Roof type
    Rubber, Metal

    We can help!

    Listing Contact
    Garrett Addington
    Garrett Addington

    Listing agent Garrett Addington License #337697

    Listing office The Addington Agency Bristol 121 Bluff City Hwy, Bristol, TN

    Listing date Jun 5, 2026

    MLS# 9996400

    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.

    HighLights

    • 54,250 SF indoor sports and hospitality campus on 10+ contiguous acres in Bristol, TN
    • Operates multiple sports and fitness areas including tennis, pickleball, indoor soccer, and fitness
    • Includes a full‑service restaurant and bar as part of the indoor sports campus
    • Approximately five acres of contiguous development land included
    • Offered as an all‑in sale including real estate, building, operating business, brand, and team
    • Built in 1975 with metal siding, rubber and metal roofing, and heat pump heating and cooling; public water and public sewer

    Overview

    Bristol Sportsplex is a 54,250-square-foot indoor sports and hospitality campus built on 10+ contiguous acres in Bristol, Tennessee. The property is anchored by tennis, pickleball, indoor soccer, and fitness, and includes a full-service restaurant and bar as part of the operating platform. The facility also incorporates multiple revenue centers and features a structured program for birthday parties and corporate events that is described as built and ready to run. Public remarks further note a complete leadership team in place and more than 2,000 active players.

    The offering is described as an all-in sale that includes the real estate, building, operating business, brand, and team. Approximately five acres of contiguous development land are included, and the City of Bristol is referenced in connection with the outdoor pickleball facility. The campus is represented as established for hosting national tournaments, and the property is zoned B3.

    For buyers and operators seeking an established indoor sports and hospitality concept with diversified activities, this package combines dedicated recreation uses with food-and-beverage operations and expansion land. The consolidated revenue is reported to have grown 4.5 since 2021. The current offering emphasizes that the infrastructure and operating components are already in place, with the expectation that the next operator can run the existing platform rather than build from scratch.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Patio Restaurant Bristol Sportsplex Gym & Fitness Center Sparked Rehab and Athletics Medical Clinic Jeff Adams Massage ... Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Bristol Sportsplex — 109 Raytheon Rd, Bristol, TN 37620
    • Appalachian Bouldering Center — 1225 Volunteer Pkwy, Bristol, TN 37620

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.208822
    Latitude
    36.55741

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    FAQs

    What type of property is this?
    Fitness center & gym - Large indoor sports and fitness campus on 10+ contiguous acres with on-site full-service restaurant and bar.
    Where is this fitness center & gym located?
    The property is located at 109 Raytheon Road Bristol, TN.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: 54,250 SF indoor sports and hospitality campus on 10+ contiguous acres in Bristol, TN; Operates multiple sports and fitness areas including tennis, pickleball, indoor soccer, and fitness; Includes a full‑service restaurant and bar as part of the indoor sports campus
    (423) 646-1060
    We can help!
    Listing Contact
    Garrett Addington
    Garrett Addington
    Real Estate License ID: 337697
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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.

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