Mixed-Use Building with
New
For Sale
$1,200,000
16 18 20 6th Street, Bristol, TN 37620
Commercial Sale, Bristol, TN
Property Size10,350 SF
Price / SF$115.94
Days on Market2
Property Features for 16 18 20 6th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Directions
From Volunteer Parkway, turn onto Anderson Street, left on 6th Street
Subdivision
103 - Bristol TN (City)
Standard status
Active
APN
020d F 014.00/020d F 014.50/020d F 015.0
Size
10,350 SF
Taxes and HOA fees
Tax Annual Amount
2630
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
individual split-system heating and air conditioning
stackable washer and dryer
grand entrance
spacious hallway
Building Details
Year built
1905
Building materials
Brick
Listing Agency:
The Addington Agency Bristol
(423) 845-5800
Listed By:
Lisa Lundberg · License #334705
(423) 677-7989
Added: Aug 29
Last Checked: Aug 30 at 1:06PM
MLS# 10000198
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.
Investment Insights
Based on property information with market context.
This 10,350-square-foot mixed-use property at 16, 18 and 20 6th Street combines six individually designed lofts with three street-facing commercial spaces. Built in 1905 with brick construction, the building includes a prominent entry and expansive interior hallway. Each loft is equipped with split-system heating and air conditioning plus a stackable washer and dryer. One of the commercial spaces operates as a restaurant, and all three commercial spaces are leased.
Located in downtown Bristol, the property places residents, businesses, dining, entertainment and other downtown amenities within walking distance. B2 zoning, public water and public sewer support the existing mixed-use configuration. The combination of residential units and leased commercial space creates a diversified property profile within a well-maintained building.
Located in downtown Bristol, the property places residents, businesses, dining, entertainment and other downtown amenities within walking distance. B2 zoning, public water and public sewer support the existing mixed-use configuration. The combination of residential units and leased commercial space creates a diversified property profile within a well-maintained building.
Key Highlights
- 10,350‑square‑foot mixed‑use building constructed in 1905
- Six lofts with individual split‑system heating and air conditioning
- Each loft includes a stackable washer and dryer
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
$109,451
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
9.12%
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%
$2,189,020
$2.2M
Cap Rate 7%
$1,563,586
$1.6M
Cap Rate 9%
$1,216,122
$1.2M
Market Conditions
NOI Build-Up for 10,350 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
$155.3K $15.00/SF
− Vacancy
−$9.3K −$0.90/SF
EGI
$145.9K $14.10/SF
− OpEx
−$36.5K −$3.53/SF
NOI
$109.5K $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%
$2,189,020
Cap Rate 7%
$1,563,586
Cap Rate 9%
$1,216,122
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.67M
NOI $159,914 @ 7.0% cap · market cap 13.33%
Second Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,451 @ 7.0% cap · market cap 9.12%
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.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six lofts and three leased commercial spaces combine residential and business uses in downtown Bristol.
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: 10,350‑square‑foot mixed‑use building constructed in 1905; Six lofts with individual split‑system heating and air conditioning; Each loft includes a stackable washer and dryer
