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    Versatile Commercial Space in Bristol, VA Title is generated by Realmo AI

    250 Commonwealth Ave., Bristol, VA 24201

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    Claim this Listing
    For Lease
    $2,400,000 SF/Yr $8,600,000,000/Mo (calc)

    COMMERCIAL - Bristol, VA

    Property size:
    43,000 SF
    Lot size:
    2.07 Acres
    Added:
    May 20, 2025
    Days on Market:
    364
    Last Refresh:
    May 18 at 2:06 pm

    Property Features for 250 Commonwealth Ave.

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    commer./indust.
    Standard status
    Active
    APN
    26 1 1 16 ; 26 11 15
    Size
    43,000 SF
    Lot size
    2.07 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1973
    Building materials
    Aluminum Siding, Concrete, Stone
    Roof type
    Rubber, Composition

    We can help!

    Listing Contact
    Denise Myers

    Listing agent Denise Myers License #358632

    Listing office Hurd Realty, LLC 110 KLM Drive Suite 1, Johnson City, VA

    Listing date May 20, 2025

    MLS# 9980501

    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.

    HighLights

    • High‑traffic location central to downtown Bristol, with easy access to I‑81 and I‑26.
    • Versatile space suitable for retail, industrial, entertainment, or housing, with potential for expansion.
    • Existing athletic sports complex with two regulation‑sized infields, batting cages, basketball/volleyball court, and a separate 11,000 sq ft franchise tenant.
    • Features include 18‑26 ft high ceilings, new roof, and 5 rollup dock doors on over 2 acres of land.
    • Security features: key‑coded perimeter door access, closed‑circuit security monitoring, fire alarm, and sprinkler system.
    • Potential for Local and State Economic Development incentives.

    Overview

    This commercial property in Bristol, VA, offers a versatile location central to downtown and convenient to I-81 and Interstate 26. Currently used as an athletic sports complex with over 36,000 square feet of baseball/softball training facility, including two regulation-sized infields, turfed and netted, over 8 batting cages, a basketball/volleyball court, restrooms, and a team meeting room. It also includes a separate 11,000 sq ft Franchise tenant, USA Ninja Challenge. The property features retail storefront space and is suitable for various uses such as warehouse space, entertainment, industrial, storage, light manufacturing, call center, or housing. Key features include 18 to 26-foot high ceilings, a new roof, five rollup dock doors, handicap accessibility, Modine gas heaters, sprinkler system, fire alarm, key-coded perimeter door access, and closed-circuit security monitoring. Situated on over 2 acres, the property also includes a bonus unfinished expansion space and has had an environmental assessment performed. It is located within walking distance of downtown Bristol and one mile from the Hard Rock Casino Bristol. Potential for Local and State Economic Development incentives.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    USA Ninja Challenge Gym & Fitness Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • BristolYOGA — 2010 W State St, Bristol, TN 37620
    • CrossFit 423 — 26 7th St, Bristol, TN 37620
    • Vision Athletics — 960 Cumberland St Suite 2, Bristol, VA 24201
    • Wellness Yoga — 153 Piedmont Ave, Bristol, VA 24201
    • USA Ninja Challenge — 250 Commonwealth Ave Suite 104, Bristol, VA 24201

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.1895
    Latitude
    36.597634

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    FAQs

    What type of property is this?
    Fitness center & gym - Adaptable commercial property near downtown Bristol, suitable for diverse uses.
    Where is this fitness center & gym located?
    The property is located at 250 Commonwealth Ave. Bristol, VA.
    What is the lease rate?
    The lease rate is $2,400,000.
    What are key features of this property?
    This property features: High‑traffic location central to downtown Bristol, with easy access to I‑81 and I‑26.; Versatile space suitable for retail, industrial, entertainment, or housing, with potential for expansion.; Existing athletic sports complex with **two regulation‑sized infields, batting cages, basketball/volleyball court, and a separate 11,000 sq ft franchise tenant.**
    (423) 383-2004
    We can help!
    Listing Contact
    Denise Myers
    Real Estate License ID: 358632
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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