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    513 State St Bristol, VA 24201

    For Sale
    $1,995,000

    19,084 sq ft, Vacant, $1.995M

    Property size:
    19,084 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use property, the Dent K. Burke Building, presents a unique investment opportunity in vibrant downtown Bristol, Virginia. Built in 1891 and renovated in 2017, this Class A, two-story building boasts 19,084 square feet of vacant space on a 10,374 square foot lot. The building features robust construction, including steel bar joints, steel I-beams, and metal decking with concrete floors. Internal chases offer significant potential for loft conversions. The layout is ideal for multiple businesses, with separate front and rear stairwells, an elevator, and restrooms on both floors. Twelve on-site parking spaces are a significant advantage in the downtown area, with potential for expansion to approximately 40 spaces. Currently configured as professional office space, the main level offers ample office space, executive offices, and a boardroom. The upper level is adaptable for high-end lofts. The building's location in the heart of Bristol, VA, benefits from the growth spurred by the Hard Rock Hotel & Casino, Bristol Motor Speedway, Thunder Valley Dragway, and the Rhythm & Roots Reunion. The property is zoned B-2 and offered fee simple. This is a prime opportunity to capitalize on Bristol's burgeoning economy and create a thriving business venture or residential development. The asking price is $1,995,000, with a price per square foot of $104.54. The building is currently vacant and available for immediate occupancy.

    Property Features for 513 State St

    General Information

    Property type
    Restaurants
    Square Feet
    19,084 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1891/2017
    Buildings
    1
    Stories
    2

    HighLights

    • Large building suitable for multiple tenants.
    • Main level features office space, executive suites, and a boardroom.
    • Upper level offers potential for high‑end loft conversions with elevator access.
    • Vacant building allows for flexible repurposing.
    • Strong growth potential due to nearby Hard Rock Hotel & Casino, Bristol Motor Speedway, and other attractions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dent K Burk ... Accountant Hernandez Honey CPA Accountant Brown Edwards: Steve ... Certified Public Accountant Rickman Carl E ... Accountant Hill Jr C ... Accountant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.182497326904
    Latitude
    36.594948219045

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    FAQs

    What type of property is this?
    Restaurant - 19,084 sq ft, Vacant, $1.995M
    Where is this restaurant located?
    The property is located at 513 State St Bristol, VA.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Large building suitable for multiple tenants.; Main level features office space, executive suites, and a boardroom.; Upper level offers potential for high-end loft conversions with elevator access.
    Request Owner's contact information
    513 State St Bristol, VA 24201
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    Realmo Value Estimation

    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.

    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.

    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
    513 State St Bristol, VA 24201
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