NNN Retail Property at Signalized
For Sale
Contact for pricing
2412 W State St, Bristol, TN 37620
Long-term net lease investment with established operations and no landlord responsibilities.
Property Size14,969 SF
Lot Size2.60 Acres
Price / SF$255.90
Days on Market274
Property Features for 2412 W State St
General Information
Standard status
Active
Size
14,969 SF
Lot size
2.60 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
The Boulder Group - Corporate
(847) 562-8500
Listed By:
Randy Blankstein · License #471005983
(847) 562-0003
Source:
Moodyscre
Added: Jan 14
Changed: Oct 1
Last Checked: Oct 14 at 11:30PM
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 The Boulder Group - Corporate
Investment Insights
Based on property information with market context.
This NNN retail property includes a 14,969-square-foot building on a 2.6-acre site. The lease has more than 10 years remaining following a long-term extension completed in 2022, with no landlord responsibilities under the current structure. The operating history dates to 1999.
The property occupies a signalized intersection at W State St and Hwy 11, where combined traffic is reported at 25,800 vehicles per day. Interstate 81 is nearby and carries 46,000 vehicles per day. The site is within walking distance of the Hard Rock Hotel & Casino and is surrounded by retailers including Kroger, Verizon, McDonald’s, Dollar Tree, Toyota, Hyundai, Goodwill, and Sonic.
More than 50,000 people live within a five-mile radius, and average household income in that area exceeds 72,000.
The property occupies a signalized intersection at W State St and Hwy 11, where combined traffic is reported at 25,800 vehicles per day. Interstate 81 is nearby and carries 46,000 vehicles per day. The site is within walking distance of the Hard Rock Hotel & Casino and is surrounded by retailers including Kroger, Verizon, McDonald’s, Dollar Tree, Toyota, Hyundai, Goodwill, and Sonic.
More than 50,000 people live within a five-mile radius, and average household income in that area exceeds 72,000.
Key Highlights
- 14,969‑square‑foot retail building on a 2.6‑acre site
- NNN lease with more than 10 years remaining
- Long‑term lease extension completed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,280
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,625,600
$4.6M
Cap Rate 7%
$3,304,000
$3.3M
Cap Rate 9%
$2,569,778
$2.6M
Market Conditions
NOI Build-Up for 14,969 SF
Gross rent
$344.9K $23.04/SF
− Vacancy
−$14.5K −$0.97/SF
EGI
$330.4K $22.07/SF
− OpEx
−$99.1K −$6.62/SF
NOI
$231.3K $15.45/SF
Area
Sullivan County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,625,600
Cap Rate 7%
$3,304,000
Cap Rate 9%
$2,569,778
Alternative Uses
Best Use
Retail
$3.30M
$2.89M – $3.85M
NOI $231,280 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.61M
$4.90M – $6.54M
NOI $392,394 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
159k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Groceries 22%
Shops & Services 14%
Apparel 3%
Kroger
Groceries
30,991 visits/mo
0.4 miles
McDonald's
Dining
25,465 visits/mo
0.3 miles
KFC
Dining
16,160 visits/mo
0.2 miles
Wendy's
Dining
12,075 visits/mo
0.4 miles
SONIC Drive In
Dining
11,697 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Long-term net lease investment with established operations and no landlord responsibilities.
Where is this nnn property located?
The property is located at 2412 W State St Bristol, TN.
What is the asking price?
The asking price for this property is $3,830,616.
What are key features of this property?
This property features: 14,969‑square‑foot retail building on a 2.6‑acre site; NNN lease with more than 10 years remaining; Long‑term lease extension completed in 2022
