Restaurant Building with Commercial
For Sale
$400,000
1840 Volunteer Parkway, Bristol, TN 37620
Commercial Sale, Bristol, TN
Property Size1,746 SF
Lot Size0.45 Acres
Price / SF$229.10
Days on Market47
Property Features for 1840 Volunteer Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Directions
From I-81 S, take Exit 69 toward TN-394/Blountville/Bristol. Turn left onto TN-394 E, then left onto Exide Dr. Continue to Volunteer Pkwy and turn left, then turn left onto Cemetery Rd. The destination will be on the left.
Subdivision
103 - Bristol TN (City)
Standard status
Active
APN
053a G 015.10
Size
1,746 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
1371
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
Building Details
Year built
1950
Building materials
Brick
Roof type
Asphalt
Listing Agency:
LPT Realty - Griffin Home Group
(423) 482-0743
Listed By:
Jim Griffin · License #310406
(423) 482-0743
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 24 at 7:06AM
MLS# 9997938
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 1,746-square-foot restaurant property occupies a 0.45-acre lot and includes a commercial kitchen with industrial sinks, one full bathroom, and three large interior rooms. The building has updated floors, a new heat pump, central air, brick construction, an asphalt roof, and public water and sewer. Kitchen equipment is negotiable and does not convey. A covered front porch and rear patio provide additional space for seating or service functions.
The property is located at 1840 Volunteer Parkway in Bristol, Tennessee, along a business corridor that receives thousands of vehicles each day. A separate rear driveway and two-car carport support deliveries, employee access, and additional parking. The site has a history of restaurant and wellness-related operations, including a sub shop and massage spa.
The property is located at 1840 Volunteer Parkway in Bristol, Tennessee, along a business corridor that receives thousands of vehicles each day. A separate rear driveway and two-car carport support deliveries, employee access, and additional parking. The site has a history of restaurant and wellness-related operations, including a sub shop and massage spa.
Key Highlights
- 1,746‑square‑foot commercial restaurant building on 0.45 acres
- Commercial kitchen with industrial sinks; equipment is negotiable and does not convey
- Covered front porch and rear patio offer additional functional space
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
$18,464
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
4.62%
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%
$369,280
$369.3K
Cap Rate 7%
$263,771
$263.8K
Cap Rate 9%
$205,156
$205.2K
Market Conditions
NOI Build-Up for 1,746 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
$26.2K $15.00/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$24.6K $14.10/SF
− OpEx
−$6.2K −$3.53/SF
NOI
$18.5K $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%
$369,280
Cap Rate 7%
$263,771
Cap Rate 9%
$205,156
Alternative Uses
Best Use
Specialty Retail
$263.8K
$230.8K – $307.7K
NOI $18,464 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$165.2K
$144.6K – $192.7K
NOI $11,564 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$653.8K
$572.1K – $762.8K
NOI $45,769 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Safelite AutoGlass
Shops & Services
677 visits/mo
0.2 miles
Fisher Auto Parts
Shops & Services
445 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-3-zoned property with dining-oriented space, outdoor areas, and separate rear access.
Where is this conventional restaurant located?
The property is located at 1840 Volunteer Parkway Bristol, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,746‑square‑foot commercial restaurant building on 0.45 acres; Commercial kitchen with industrial sinks; equipment is negotiable and does not convey; Covered front porch and rear patio offer additional functional space
