Grocery-Anchored Shopping
For Sale
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1430 Volunteer Parkway, Bristol, TN 37620
Established retail center with triple-net leases and a complementary tenant mix including grocery, pharmacy, fuel, and dining uses.
Property Size84,177 SF
Price / SF$122.15
Days on Market17
Property Features for 1430 Volunteer Parkway
General Information
Standard status
Active
Size
84,177 SF
Property subtype
Retail
Lease Type
NN
Net Operating Income
$899,675
Site & Location
Anchor Co-Tenants
Food City, Lowe’s, Walgreens, Starbucks
Traffic Count
19,000 vehicles/day
Building Details
Year Built
2006
Units
15
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Robert Tate · License #373106
Source:
Crexi
Added: Aug 17
Changed: Sep 1
Last Checked: Sep 1 at 9:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
Southgate Crossing is an 84,177-square-foot shopping center completed in 2006, offered as a leasehold interest. Food City serves as the grocery anchor, with additional tenants and uses including pharmacy, fuel, home improvement, and quick-service dining. Named occupants include Lowe’s, Walgreens, and Starbucks.
The property is positioned at 1430 Volunteer Parkway in Bristol, Tennessee, along a primary commercial corridor. The center benefits from approximately 19,000 VPD and convenient access. Its triple-net lease structure passes taxes, insurance, and common area maintenance expenses through to tenants, supporting a defined operating framework for the leasehold ownership.
The property is positioned at 1430 Volunteer Parkway in Bristol, Tennessee, along a primary commercial corridor. The center benefits from approximately 19,000 VPD and convenient access. Its triple-net lease structure passes taxes, insurance, and common area maintenance expenses through to tenants, supporting a defined operating framework for the leasehold ownership.
Key Highlights
- 84,177‑square‑foot shopping center built in 2006
- Leasehold interest in a grocery‑anchored retail center
- Food City anchor with Lowe’s, Walgreens, and Starbucks among named tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$890,172
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,803,440
$17.8M
Cap Rate 7%
$12,716,743
$12.7M
Cap Rate 9%
$9,890,800
$9.9M
Market Conditions
NOI Build-Up for 84,177 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.26M $15.00/SF
− Vacancy
−$75.8K −$0.90/SF
EGI
$1.19M $14.10/SF
− OpEx
−$296.7K −$3.53/SF
NOI
$890.2K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,803,440
Cap Rate 7%
$12,716,743
Cap Rate 9%
$9,890,800
Alternative Uses
Best Use
Retail
$18.58M
$16.26M – $21.68M
NOI $1,300,587 @ 7.0% cap · market cap 12.65%
Second Best
Specialty Retail
$12.72M
$11.13M – $14.84M
NOI $890,172 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$31.52M
$27.58M – $36.78M
NOI $2,206,596 @ 7.0% cap · market cap 21.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
130k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 21%
Home Improvements & Furnishings 19%
Shops & Services 15%
Food City
Groceries
27,161 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
25,206 visits/mo
0.2 miles
Wendy's
Dining
15,804 visits/mo
0.2 miles
Starbucks
Dining
12,733 visits/mo
0.2 miles
Dollar Tree
Shops & Services
12,039 visits/mo
0.1 miles
Demographics for 37620, TN
38,245
Population
18,119
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
90%
High-School Grad
128.2 sq mi
ZIP Area
298
Density / Sq Mi
$54,908
Median Household Income
$36,017
Median Earnings
$809
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center with triple-net leases and a complementary tenant mix including grocery, pharmacy, fuel, and dining uses.
Where is this shopping center located?
The property is located at 1430 Volunteer Parkway Bristol, TN.
What is the asking price?
The asking price for this property is $10,282,000.
What are key features of this property?
This property features: 84,177‑square‑foot shopping center built in 2006; Leasehold interest in a grocery‑anchored retail center; Food City anchor with Lowe’s, Walgreens, and Starbucks among named tenants
