Contemporary Apartment
For Sale
$1,825,000
577 English Street, Bristol, TN 37620
MULTI_FAMILY - Contemporary - Bristol, TN
Property Size10,260 SF
Price / SF$177.88
Days on Market386
Property Features for 577 English Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R/B3
Bedrooms
15
Bathrooms
15
Full bathrooms
10
Half bathrooms
5
Rooms
Bedroom 7, Dining Room, Bathroom 7, Bathroom 11, Bedroom 13, Bedroom 2, Bedroom 8, Bathroom 15, Bathroom 9, Bedroom 11, Bedroom 6, Bedroom 15, Bedroom 1, Bathroom 8, Bathroom 14, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 12, Bathroom 5, Bedroom 5, Bathroom 10, Bathroom 6, Bedroom 14, Bathroom 13, Bedroom 4, Bedroom 10, Bedroom 9, Bedroom 3, Bathroom 12, Bathroom 3
Parking features
Open
Window features
Double Pane Windows, Insulated Windows
Patio and Porch features
Patio, Deck
Interior features
Granite Counters, Kitchen Island, Kitchen/Dining Combo, Open Floorplan
Appliances
Dishwasher, Disposal, Electric Range, Gas Range, Microwave, Refrigerator
Subdivision
Not In Subdivision
Elementary school
Fairmont
Middle school
Tennessee Middle
High school
Tennessee
Directions
From State Street in Downtown Bristol TN/VA, take Volunteer Pkwy (11E) approx 1 mile to Melrose Street on the Left. English Street Condos are on the immediate Left.
Standard status
Active
APN
020e D 039.00
Size
10,260 SF
Taxes and HOA fees
Tax Annual Amount
730
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Central, Natural Gas
Cooling system
Heat Pump, Zoned, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2025
Floors in Building
3
Number of units
5
Flooring type
Hardwood, Tile, Vinyl
Building materials
HardiPlank Type, Stone
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
The Addington Agency Bristol
(423) 845-5800
Listed By:
Melissa Hall · License #335263
(423) 505-1793
Added: Aug 11, 2025
Changed: Aug 4
Last Checked: Aug 31 at 3:06AM
MLS# 9984326
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 contemporary apartment building is under construction with a 2025 build year and is configured as a five-unit property. Each unit is designed with three bedrooms, two and a half bathrooms, and a one-car garage. Interior features include granite counters, a kitchen island, and an open floorplan with a kitchen/dining combo. Appliances include a dishwasher, disposal, electric range, gas range, microwave, and refrigerator.
The property is zoned R/B3 and includes heating and cooling supported by central systems, a heat pump (heating), electric heating, natural gas, and zoned cooling, with ceiling fans. Flooring includes vinyl, hardwood, and tile. Outdoor space is provided via a deck and patio, and parking is listed as open. Utilities include cable available, with public water and public sewer service.
Roofing is shingle, and construction materials are listed as HardiPlank type with stone. The building is positioned at 577 English Street in Bristol, Tennessee.
The property is zoned R/B3 and includes heating and cooling supported by central systems, a heat pump (heating), electric heating, natural gas, and zoned cooling, with ceiling fans. Flooring includes vinyl, hardwood, and tile. Outdoor space is provided via a deck and patio, and parking is listed as open. Utilities include cable available, with public water and public sewer service.
Roofing is shingle, and construction materials are listed as HardiPlank type with stone. The building is positioned at 577 English Street in Bristol, Tennessee.
Key Highlights
- Five‑unit contemporary apartment building under construction with 2025 build year
- Each unit includes three bedrooms, two and a half bathrooms, and a one‑car garage
- Zoned R/B3
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
$71,671
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
3.93%
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%
$1,433,420
$1.4M
Cap Rate 7%
$1,023,871
$1.0M
Cap Rate 9%
$796,344
$796.3K
Market Conditions
NOI Build-Up for 10,260 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
$137.9K $13.44/SF
− Vacancy
−$7.6K −$0.74/SF
EGI
$130.3K $12.70/SF
− OpEx
−$58.6K −$5.72/SF
NOI
$71.7K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$1,433,420
Cap Rate 7%
$1,023,871
Cap Rate 9%
$796,344
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$895.9K – $1.19M
NOI $71,671 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $268,953 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
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 Multifamily 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?
Apartment building - Under construction 2025 contemporary 5-unit apartment building zoned R/B3 with private outdoor space and attached garages.
Where is this apartment building located?
The property is located at 577 English Street Bristol, TN.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Five‑unit contemporary apartment building under construction with 2025 build year; Each unit includes three bedrooms, two and a half bathrooms, and a one‑car garage; Zoned R/B3
