Historic Victorian Restaurant
For Sale
$599,900
412 6th Street, Bristol, TN 37620
B-1A-zoned Victorian property with commercial kitchen infrastructure, event-oriented outdoor areas, and flexible hospitality use potential.
Property Size6,184 SF
Price / SF$97.01
Days on Market52
Property Features for 412 6th Street
General Information
Standard status
Active
Size
6,184 SF
Property subtype
Commercial
Zoning
B-1A
Additional Details
Asking Price
$599,900
Patio
Yes
Amenities
custom bar
dedicated office space
stage
Building Details
Year Built
1870
Buildings
1
Listing Agency:
The Addington Agency Bristol
(423) 646-1060
Listed By:
Garrett Addington · License #32184
Source:
Bpre
Added: Jul 11
Changed: Aug 30
Last Checked: Aug 30 at 4:48PM
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 Addington Agency Bristol
Investment Insights
Based on property information with market context.
This 6,184-square-foot Victorian property dates to 1870 and retains original hardwood flooring, detailed woodwork, fireplaces, and an ornate staircase. The building includes a custom bar, commercial kitchen, walk-in coolers, multiple dining rooms, five restrooms, and office space. A wraparound porch, original slate roof, and stage add distinctive architectural and gathering areas, while an additional lot supports guest parking.
The property is positioned within walking distance of downtown Bristol and a short drive from HardRock Casino and Bristol Motor Speedway. B-1A zoning and its prior restaurant operation support continued consideration as a restaurant or other hospitality-oriented business, including bed-and-breakfast and event uses identified for the property.
The property is positioned within walking distance of downtown Bristol and a short drive from HardRock Casino and Bristol Motor Speedway. B-1A zoning and its prior restaurant operation support continued consideration as a restaurant or other hospitality-oriented business, including bed-and-breakfast and event uses identified for the property.
Key Highlights
- 6,184‑square‑foot Victorian building constructed in 1870
- B‑1A zoning with prior restaurant operation
- Commercial kitchen, custom bar, and walk‑in coolers
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
$40,959
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
6.83%
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%
$819,180
$819.2K
Cap Rate 7%
$585,129
$585.1K
Cap Rate 9%
$455,100
$455.1K
Market Conditions
NOI Build-Up for 6,184 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
$61.6K $9.96/SF
− Vacancy
−$3.1K −$0.50/SF
EGI
$58.5K $9.46/SF
− OpEx
−$17.6K −$2.84/SF
NOI
$41.0K $6.62/SF
Area
Sullivan County, TN
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$819,180
Cap Rate 7%
$585,129
Cap Rate 9%
$455,100
Alternative Uses
Best Use
Specialty Retail
$934.2K
$817.5K – $1.09M
NOI $65,396 @ 7.0% cap · market cap 10.90%
Second Best
Industrial
$585.1K
$512.0K – $682.7K
NOI $40,959 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,106 @ 7.0% cap · market cap 27.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 46%
Hotels & Casinos 2%
Applebee's
Dining
11,965 visits/mo
0.4 miles
Wash N' Roll Car Wash
Shops & Services
4,560 visits/mo
0.5 miles
Shell
Shops & Services
4,549 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
4,148 visits/mo
0.1 miles
Papa John's Pizza
Dining
3,998 visits/mo
0.2 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-1A-zoned Victorian property with commercial kitchen infrastructure, event-oriented outdoor areas, and flexible hospitality use potential.
Where is this conventional restaurant located?
The property is located at 412 6th Street Bristol, TN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 6,184‑square‑foot Victorian building constructed in 1870; B‑1A zoning with prior restaurant operation; Commercial kitchen, custom bar, and walk‑in coolers
