Mixed-Use Building with Six
For Sale
$1,200,000
Pending
16 18 20 6th Street, Bristol, TN 37620
Three street-level commercial suites accompany six residential lofts, with individual climate control and in-unit laundry in each loft.
Property Size10,350 SF
Days on Market12
Property Features for 16 18 20 6th Street
General Information
Standard status
Pending
Size
10,350 SF
Zoning
B2
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Mixed-Use Components
residential, commercial
Multifamily Units
6
Amenities
Public
25x75
See Remarks
City Street
10350
true
Building Details
Building Size
10,350 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
(423) 973-8634
Listed By:
Wendy Watkins
Source:
Greaterimpactrealty
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 2:47PM
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 Wendy Watkins
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Investment Insights
Based on property information with market context.
This 10,350-square-foot mixed-use building, constructed in 1905, combines six lofts with three street-front commercial spaces. Each loft has a split-system heating and air-conditioning unit and a stackable washer and dryer. A shared entrance and hallway serve the residential portion, while one of the commercial spaces operates as a restaurant. All three commercial suites are leased, and the property is zoned B2.
The property occupies three addresses on 6th Street in downtown Bristol, Tennessee. Its street-facing commercial spaces sit within walking distance of downtown dining, entertainment, and amenities.
The property occupies three addresses on 6th Street in downtown Bristol, Tennessee. Its street-facing commercial spaces sit within walking distance of downtown dining, entertainment, and amenities.
Key Highlights
- Six residential lofts, each with split‑system heating and air conditioning
- Stackable washer and dryer included in every loft
- Three street‑front commercial spaces; all three are leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,821
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,420
$1.8M
Cap Rate 7%
$1,297,443
$1.3M
Cap Rate 9%
$1,009,122
$1.0M
Market Conditions
NOI Build-Up for 10,350 SF
Gross rent
$161.5K $15.60/SF
− Vacancy
−$16.1K −$1.56/SF
EGI
$145.3K $14.04/SF
− OpEx
−$54.5K −$5.27/SF
NOI
$90.8K $8.77/SF
Area
Sullivan County, TN
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,420
Cap Rate 7%
$1,297,443
Cap Rate 9%
$1,009,122
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.67M
NOI $159,914 @ 7.0% cap · market cap 13.33%
Second Best
Mixed Use
$1.30M
$1.14M – $1.51M
NOI $90,821 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$3.88M
$3.39M – $4.52M
NOI $271,312 @ 7.0% cap · market cap 22.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three street-level commercial suites accompany six residential lofts, with individual climate control and in-unit laundry in each loft.
Where is this mixed-use property located?
The property is located at 16 18 20 6th Street Bristol, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Six residential lofts, each with split‑system heating and air conditioning; Stackable washer and dryer included in every loft; Three street‑front commercial spaces; all three are leased
