3280 Lee Hwy Bristol, VA 24202-5520
- Commercial real estate
- 13,600 SF
- 2.54 lot acres
Current Use by Public Records
- Social Security Administration / Social Security Office
Property Details for 3280 Lee Hwy
- Year built
- 2008
- Lot size
- 2.54 lot acres
- Property size
- 13,600 SF
- Property type
- Commercial real estate
- APN
- 225 A 7
- APU
- 225A7
Description
Exceptional investment opportunity: a fee-simple interest in a 13,360-square-foot, single-story office building located at 3280 Lee Highway, Bristol, VA 24202. This Class B property, built in 2008, is currently 100% occupied by the U.S. Federal Government (Social Security Administration) under a long-term lease with four or more years remaining on the second ten-year term. The building boasts a strong pro-forma net operating income (NOI) of $251,022, yielding a compelling 7.91% cap rate. The asking price is $3,175,000, translating to $18.79 per square foot. Situated on a 2.54-acre lot with 54 parking spaces and approximately 271 feet of frontage on Lee Highway (US Route 19), this property offers excellent visibility and accessibility, across from The Falls retail development. The property is offered for sale individually or as part of a larger portfolio. Further details, including rent bump information, are available in the Offering Memorandum. This is a rare opportunity to acquire a stable, government-leased asset with significant long-term potential.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $435,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Bristol
- State
- Virginia
- Longitude
- -82.1477
- Latitude
- 36.6305
- CBSA code
- 28700
- CBSA name
- KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA
