Brick Office
For Sale
$279,999
Bristol, TN 37620, Bristol, TN 37620
Commercial Sale, Bristol, TN
Property Size1,215 SF
Lot Size0.33 Acres
Price / SF$230.45
Days on Market183
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Spec Interest
Parking
6
Subdivision
Not In Subdivision
Directions
GPS Friendly Take I-81 N Continue on I-81 N to Bristol Continue straight onto W State St Take Anderson St to 7th St Follow 7th St to Rose St
Standard status
Active
Size
1,215 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Annual Amount
1082
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Amenities
outside picnic area
Building Details
Year built
2008
Building materials
Brick
Roof type
Composition, Shingle
Listing Agency:
CENTURY 21 Legacy Fort Henry · EXIT Realty
(423) 239-6112
Listed By:
Tammy Childress · License #364452
(423) 213-3924
Added: Apr 2
Changed: Sep 13
Last Checked: Oct 1 at 4:06PM
MLS# 9993259
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 1,215-square-foot brick office property was built in 2008 and contains two separately configured units. Unit 1 includes a waiting area, two offices, an ADA-compliant bathroom, storage closet, and utility room. Unit 2 provides reception space, an office, conference room, kitchenette, storage, and ADA-compliant and employee bathrooms. Both units are currently leased, and the existing occupants have expressed interest in continuing under new ownership.
The 0.33-acre property is near downtown Bristol within a walkable historic residential setting, with access to downtown amenities, the YMCA, and local dining. Parking and an outdoor picnic area support employees and visitors. The building has heat-pump heating, heat-pump and central-air cooling, public water, public sewer, and a composition shingle roof. The sale is offered as-is, where-is, with buyer responsibility for verifying condition, dimensions, systems, and intended-use suitability.
The 0.33-acre property is near downtown Bristol within a walkable historic residential setting, with access to downtown amenities, the YMCA, and local dining. Parking and an outdoor picnic area support employees and visitors. The building has heat-pump heating, heat-pump and central-air cooling, public water, public sewer, and a composition shingle roof. The sale is offered as-is, where-is, with buyer responsibility for verifying condition, dimensions, systems, and intended-use suitability.
Key Highlights
- 1,215 square feet on a 0.33‑acre parcel
- Two office units currently under lease
- Unit 2 includes reception, conference room, kitchenette, storage, and two bathrooms
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
$17,741
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
6.34%
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%
$354,820
$354.8K
Cap Rate 7%
$253,443
$253.4K
Cap Rate 9%
$197,122
$197.1K
Market Conditions
NOI Build-Up for 1,215 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
$30.3K $24.96/SF
− Vacancy
−$6.7K −$5.49/SF
EGI
$23.7K $19.47/SF
− OpEx
−$5.9K −$4.87/SF
NOI
$17.7K $14.60/SF
Area
Sullivan County, TN
Vacancy
22.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$354,820
Cap Rate 7%
$253,443
Cap Rate 9%
$197,122
Alternative Uses
Best Use
Office B
$253.4K
$221.8K – $295.7K
NOI $17,741 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$455.0K
$398.1K – $530.8K
NOI $31,850 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
88
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two leased units provide flexible office layouts with meeting, reception, storage, kitchenette, and ADA-compliant restroom areas.
Where is this office building located?
The property is located at Bristol, TN.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: 1,215 square feet on a 0.33‑acre parcel; Two office units currently under lease; Unit 2 includes reception, conference room, kitchenette, storage, and two bathrooms
