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

    24249 Miller Hl Rd Bristol, VA 24202

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2989796
    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 24249 Miller Hl Rd

    Property type
    Commercial real estate
    APN
    TOW P
    APU
    TOWP

    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
    Washington
    State
    Virginia
    Longitude
    -82.2354
    Latitude
    36.6009
    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
    $0.00
    $180,000
    $180,000
    -
    $0.00
    $180,000
    $180,000

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      4355 Lee Hwy

      COMMERCIAL (GENERAL) • 0.17 Acres
      4355 Lee Hwy, Bristol, VA 24202-4303
      View Details
    • Value Estimation
      $2,380,000
      15,822 SF

      21371 Forsythe Rd

      COMMERCIAL (GENERAL) • 15,822 SF
      21371 Forsythe Rd, Bristol, VA 24202-4357
      View Details
    • Value Estimation by Request
      2,208 SF

      22477 Benhams Rd

      COMMERCIAL (GENERAL) • 2,208 SF
      22477 Benhams Rd, Bristol, VA 24202-2521
      View Details
    • Value Estimation
      $20,200,000
      166,980 SF

      Highlands Ctr Blvd

      COMMERCIAL (GENERAL) • 166,980 SF
      Highlands Ctr Blvd, Bristol, VA 24202
      View Details
    • Value Estimation by Request
      1.09 Acres

      9 Reedy Creek Rd

      Land • 1.09 Acres
      9 Reedy Creek Rd, Bristol, VA 24202
      View Details
    • Value Estimation by Request
      0.70 Acres

      3513 Lee Hwy

      Land • 0.70 Acres
      3513 Lee Hwy, Bristol, VA 24202
      View Details

    Similar Nearby for Sale

    • $59,000
      1.30 Acres

      Prime Bristol Commercial Land

      1.3 Acres, $59,000
      0 Mount Vernon Dr, Bristol, VA 24202
      View Details
    • Contact for pricing
      1.35 Acres

      The Falls Commercial Land

      Prime Bristol, VA retail land investment
      0 Falls Blvd, Bristol, VA 24202
      View Details
    • $975,000
      1.53 Acres

      Bristol, VA Commercial Land

      1.53 Acres, I-81 Access, $975,000
      3171 Linden Dr, Bristol, VA 24202
      View Details
    • $890,000
      1.66 Acres

      Prime Bristol Commercial Land

      1.66 Acres, B-3 Zoning, High Visibility
      520 Falls Blvd, Bristol, VA 24202
      View Details
    • $2,250,000
      7.90 Acres

      Lee Hwy Bristol Commercial Land

      7.9 Acres, Prime Commercial Location
      2702 Lee Hwy, Bristol, VA 24202
      View Details
    • $1,997,000
      10,367 SF

      Blevins Blvd Office Complex - Bristol, VA

      Prime Bristol Office Space: 10,367 SF, Vacant, Owner/User.
      284 Blevins Blvd, Bristol, VA 24202
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,400 SF

      Retail Space with Interstate Visibility

      3,400 SF retail space with high Interstate visibility.
      3176 Linden Dr, Bristol, VA 24202
      View Details
    • $4 SF/Yr
      105,000 SF

      Industrial Space with Climate Control

      Climate-controlled industrial space suitable for manufacturing or storage.
      14570 Industrial Park Rd, Bristol, VA 24202
      View Details
    • $12 SF/Yr
      10,367 SF

      Bristol, VA Executive Office & Warehouse

      10,367 SF Office/Warehouse, 1.55 Acres
      294 Blevins Blvd, Bristol, VA 24202
      View Details
    • Contact for pricing
      130,000 SF

      One Alpha Place: Bristol Office Space

      130,000 SF Class A Office Building, Ready to Occupy
      201 Resting Tree Dr, Bristol, VA 24202
      View Details
    • $14 SF/Yr
      19,010 SF

      Bristol Medical Office Space for Lease

      Prime Bristol location, 13 suites, 1,692 sq ft available.
      3101 Lee Hwy, Bristol, VA 24202
      View Details
    • $12 SF/Yr
      27,705 SF

      Linden Square Office Space

      Bristol, VA office suites available. Renovated 2022.
      100 Linden Square Dr, Bristol, VA 24202
      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.
    24249 Miller Hl Rd
    Bristol, VA 24202
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.