Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4140 Lee Hwy Bristol, VA 24202

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    2,677 SF stand-alone bank branch on busy Lee Highway.

    Property size:
    2,677 SF
    Lot size:
    0.68 Acres

    Property Features for 4140 Lee Hwy

    General Information

    Standard status
    Active
    Zoning
    B-3
    Size
    2,677 SF
    Lot size
    0.68 Acres

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    Glenn Perkins
    Glenn Perkins
    Source: Crexi

    Listing Agency: TCI Group – Jerry Petzoldt Agency LLC Listing Agent: Glenn Perkins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Stand-Alone Bank Branch on Lee Highway

    This 2,677 square foot stand-alone bank branch is located on Lee Highway in Bristol, Virginia. The property features a lobby area, a 13 x 14 breakroom, a 10 x 11 private office, two restrooms, a 10 x 10 vault, an IT room, and a large work room. It also includes two drive-up lanes and one ATM lane. Constructed with a slab foundation and brick exterior walls, the building is equipped with heat pumps for HVAC. Major public utilities are available. The property is located at the signaled intersection of Lee Highway and Bonham Road, providing ingress and egress from the front and side of the building with dedicated turn lanes. The layout can accommodate various businesses, including financial institutions, brokerage firms, professional or medical offices, showrooms, restaurants, or retail services. Situated midway between I-81 Exits 5 and 7, the property benefits from high visibility and easy access. The surrounding area includes a retail and restaurant district with Home Depot, Lowes, Planet Fitness, Walmart, and several restaurants. The property is positioned for an owner-user or investor in a high-traffic area of the Tri-Cities.
    Location Intelligence

    Current Use by Public Records

    sun trust Bank

    Suggested Use

    Real Estate Agency Law Firm Restaurant 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.

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.1142262
    Latitude
    36.63788

    Nearby Similar for Sale

    • $675,000
      3,634 SF

      Historic Downtown Commercial Property

      Adaptable commercial space in Bristol's historic downtown district.
      171 Piedmont Ave, Bristol, VA 24201
      View Details
    • $699,000
      3,349 SF

      Commercial Property on Euclid Avenue

      High-visibility commercial property with long-term tenant in place.
      2155 Euclid Avenue Ext, Bristol, VA 24201
      View Details
    • $699,000
      2,528 SF

      Adaptable Commercial Property on Euclid Avenue

      Highly visible commercial property with flexible layout on Euclid Avenue.
      2165 Euclid Avenue Ext, Bristol, VA 24201
      View Details
    • $2,195,000
      3,321 SF

      Bristol Commercial Property Near Casino

      Turnkey commercial operation with high visibility and growth potential.
      245 Gate City Hwy, Bristol, VA 24201
      View Details
    • $1,350,000
      5,018 SF

      Prime Commercial Corner in Bristol

      High-traffic corner lot with development potential near Hard Rock Casino.
      601 Commonwealth Avenue Ext, Bristol, VA 24201
      View Details
    • $325,000
      Pending

      Versatile Commercial Property in Bristol, VA

      Adaptable commercial space suitable for various professional uses.
      1941 Euclid Ave, Bristol, VA 24201
      View Details
    • $349,000
      1,337 SF

      High-Visibility Commercial Property in Bristol

      Visible location near Hard Rock Hotel. Automotive sales or other uses.
      2245 Euclid Avenue Ext, Bristol, VA 24201
      View Details
    • $224,900
      1,071 SF

      Euclid Avenue Professional Office Opportunity

      Professional office with expansion potential near downtown Bristol and Hard Rock Casino.
      1723 Euclid Ave, Bristol, VA 24201
      View Details
    • $224,900
      1,071 SF

      Professional Office Opportunity in Bristol

      Highly visible office with expansion potential near downtown Bristol.
      1723 Euclid Ave, Bristol, VA 24201
      View Details
    • $175,000
      2,208 SF

      Versatile Commercial Building in Bristol, VA

      Adaptable commercial space suitable for various business ventures.
      519 Goodson St, Bristol, VA 24201
      View Details
    • $498,000
      2,817 SF

      Bristol Multifamily Investment Opportunity

      Income-producing property near Hard Rock Casino with expansion potential.
      2412 Bradley St, Bristol, VA 24201
      View Details
    • $155,000
      1,204 SF

      Bristol Mixed-Use Opportunity

      Renovated mixed-use building with expansion potential near downtown Bristol.
      105 Martin Rd, Bristol, VA 24201
      View Details

    FAQs

    What type of property is this?
    Bank - 2,677 SF stand-alone bank branch on busy Lee Highway.
    Where is this bank located?
    The property is located at 4140 Lee Hwy Bristol, VA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Prime corner location on busy Lee Highway at signaled intersection.; - High visibility and easy access with dedicated turn lanes.; - 2,677 sq ft stand-alone building with flexible potential for various businesses.
    (423) 230-0255
    Request Owner's contact information
    4140 Lee Hwy Bristol, VA 24202
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4140 Lee Hwy
    Bristol, VA 24202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    4140 Lee Hwy Bristol, VA 24202
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Glenn Perkins
    Glenn Perkins
    Real Estate License ID: 0225224327
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!