Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    2031 Broad St Bristol, TN 37620-1968

    • Commercial real estate
    • 43,577 SF
    • 4.57 lot acres
    OFF-MARKET
    Last Sale
    Sep 21, 2020
    $200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2433313
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2031 Broad St

    Year built
    1910
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.57 lot acres
    Property size
    43,577 SF
    Property type
    Commercial real estate
    APN
    082020C L 02800
    APU
    082020CL02800

    Description

    This exceptional 43,549 square foot commercial property located at 2031 Broad Street, Bristol, Tennessee presents a remarkable investment opportunity. Situated on a generous 4.57-acre lot, this expansive building boasts 89 parking spaces and a full-size gymnasium measuring 60x75 feet. Its previous use as Rosemont Elementary School offers a versatile foundation for a multitude of redevelopment possibilities. City officials have confirmed the suitability of the property for diverse applications, including apartments, daycare centers, restaurants (with both indoor and outdoor dining options), churches, and fitness facilities. The property's strategic location offers convenient access to the area's amenities, with the new Hard Rock Casino and Hotel just a 10-minute drive away. This presents a unique chance for developers to capitalize on the building's size, existing infrastructure, and prime location. All information is believed to be accurate but is not guaranteed. Prospective buyers are strongly encouraged to independently verify all details. The property is offered at $1,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.2056
    Latitude
    36.592
    CBSA code
    28700
    CBSA name
    KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $133,440
    $149,480
    $282,920
    -
    $333,600
    $373,700
    $707,300

    Comparable in this City

    • Value Estimation by Request
      1.62 Acres

      11 House Portfolio Bristol Tn

      Commercial real estate • 1.62 Acres
      11 House Portfolio Bristol Tn, Bristol, TN 37620
      View Details
    • Value Estimation by Request
      46.00 Acres

      Shelby St

      COMMERCIAL (GENERAL) • 46.00 Acres
      Shelby St, Bristol, TN 37620
      View Details
    • Value Estimation by Request
      28.00 Acres

      613 Shelby St

      COMMERCIAL (GENERAL) • 28.00 Acres
      613 Shelby St, Bristol, TN 37620
      View Details
    • Value Estimation by Request
      1.30 Acres

      Southside Ave

      COMMERCIAL (GENERAL) • 1.30 Acres
      Southside Ave, Bristol, TN 37620
      View Details
    • Value Estimation by Request
      0.19 Acres

      404 State St

      COMMERCIAL (GENERAL) • 0.19 Acres
      404 State St, Bristol, TN 37620
      View Details
    • Value Estimation by Request
      0.40 Acres

      3166 State St

      COMMERCIAL (GENERAL) • 0.40 Acres
      3166 State St, Bristol, TN 37620-1609
      View Details

    Similar Nearby for Sale

    • $399,000
      0.66 Acres

      Prime Bristol Commercial Land

      0.66-acre corner lot, high traffic area.
      1828 Holston Dr, Bristol, TN 37620
      View Details
    • $4,500,000
      780 SF

      Prime Bristol Commercial Land

      112 Acres, 2674 RV Sites
      100 Sportsway Dr, Bristol, TN 37620
      View Details
    • $489,850
      2,600 SF

      Highway 421 Bristol Commercial Property

      Revamped Commercial Building, Prime Location
      3101 Highway 421, Bristol, TN 37620
      View Details
    • $1,500,000
      30.00 Acres

      Prime Bristol Commercial Land

      30 Acres, Opportunity Zone, High Growth Corridor
      120 Shankle Mill Rd, Bristol, TN 37620
      View Details
    • $425,000
      2,400 SF

      Bristol Commercial Building - High Visibility

      Prime Bristol location, 2400 sqft, high traffic.
      227 Bluff City Hwy, Bristol, TN 37620
      View Details
    • $994,000
      1,838 SF

      Historic Bristol Diner - Turnkey Opportunity

      Iconic Restaurant, High Traffic Location, All Equipment Included
      2520 State St, Bristol, TN 37620
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      13,530 SF

      Bristol Crossings Retail Center

      Prime Retail Space Available, High Traffic
      740 Volunteer Pkwy, Bristol, TN 37620
      View Details
    • $12 SF/Yr
      3,200 SF

      Bristol Office/Retail Space - Excellent Location

      3,200 SF Single-Tenant Office/Retail Space
      1836 Volunteer Pkwy, Bristol, TN 37620
      View Details
    • $8 SF/Yr
      3,200 SF

      Pristine Office Space For Lease

      3,200 SF office space available on Volunteer Parkway.
      1272-1276 Volunteer Pkwy, Bristol, TN 37620
      View Details
    • $699,999
      13,900 SF

      Bristol Commercial Property Near Attractions

      Commercial property suitable for entertainment, retail, or restaurant uses.
      1604 W State St, Bristol, TN 37620
      View Details
    • $9 SF/Yr
      26,000 SF

      Downtown Bristol Retail Opportunity

      Two-story retail space with excellent street presence and natural light.
      615-621 Shelby St, Bristol, TN 37620
      View Details
    • $2,500 /Mo
      2,160 SF

      Renovated Commercial Space in Bristol

      Charming, open-concept space with high ceilings and abundant natural light.
      1100 5Th St, Bristol, TN 37620
      View Details
    Request Owner's contact information
    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.
    2031 Broad St
    Bristol, TN 37620-1968
    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
    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

    Google sign-in failed. Please try again or use another login method.