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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3053 State St Bristol, TN 37620-1720

    • Medical offices
    • 7,366 SF
    • 1.96 lot acres
    OFF-MARKET
    Last Sale
    May 30, 2025
    $750,000
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0322293
    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

    • Medical offices

    Property Details for 3053 State St

    Year built
    1977
    Lot size
    1.96 lot acres
    Property size
    7,366 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    082020A A 04300
    APU
    082020AA04300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $750,000
      ML approach
      $745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $788,000
      Market price range: $483k - $1.41M
      AI Estimate
      $521,000
      Market price range: $310k - $899k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $955,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.2224
    Latitude
    36.595
    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
    $52,920
    $172,600
    $225,520
    -
    $132,300
    $431,500
    $563,800

    Comparable in this City

    • Value Estimation
      $365,000
      3,300 SF

      3169 State St

      MEDICAL BUILDING • 3,300 SF
      3169 State St, Bristol, TN 37620-1610
      View Details
    • Value Estimation
      $425,000
      3,120 SF

      1039 Hwy 126

      MEDICAL BUILDING • 3,120 SF
      1039 Hwy 126, Bristol, TN 37620-3223
      View Details
    • Value Estimation
      $130,000
      4,278 SF

      2901 State St

      MEDICAL BUILDING • 4,278 SF
      2901 State St, Bristol, TN 37620-1718
      View Details
    • Value Estimation
      $585,000
      18,936 SF

      3183 State St

      MEDICAL BUILDING • 18,936 SF
      3183 State St, Bristol, TN 37620-1712
      View Details
    • Value Estimation
      $375,000
      5,296 SF

      2686 State St

      MEDICAL BUILDING • 5,296 SF
      2686 State St, Bristol, TN 37620-1817
      View Details
    • Value Estimation
      $290,000
      2,471 SF

      350 Blountville Hwy Ste, Unit 106

      MEDICAL BUILDING • 2,471 SF
      350 Blountville Hwy Ste, Bristol, TN 37620-1671
      View Details

    Similar Nearby for Sale

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      Turnkey Medical Office Ready Now

      Move-in ready medical office with eight exam rooms.
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    • $299,900
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      Commercial Property Near Hard Rock Casino

      Mixed-use property near Hard Rock Casino, suitable for retail/medical.
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    • $800,000
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      Commercial Property on State Street

      Highly visible commercial property in Bristol with flexible potential.
      1606 W State St, Bristol, TN 37620
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    • $479,900
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      Turn-Key Office in Bristol Heart

      Remodeled office building with charm, character, and high visibility.
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      Historic Bristol Commercial Building For Sale

      Landmark 4,242 SF building in Bristol's Downtown Business District.
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    Similar Nearby for Lease

    • $12 SF/Yr
      3,200 SF

      Bristol Office/Retail Space - Excellent Location

      3,200 SF Single-Tenant Office/Retail Space
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      View Details
    • $11 SF/Yr
      26,000 SF

      Downtown Bristol Office Space

      Versatile Office Building, Downtown Bristol
      615 Shelby St, Bristol, TN 37620
      View Details
    • $14 SF/Yr
      2,640 SF

      Equipped Medical Office Space

      2640 SF medical office space in Bristol, TN for rent.
      109 Meadow View Rd, 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
    • $20 SF/Yr
      13,800 SF

      Prime Office Space Available Now

      Mountain retreat office campus; flexible suites.
      2604 Us-421, Bristol, TN 37620
      View Details
    • $2,300 /Mo
      1,520 SF

      Downtown Bristol Remodeled Office Space

      Remodeled office space in Downtown Bristol with utilities included.
      630 Broad St, Bristol, TN 37620
      View Details
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    3053 State St
    Bristol, TN 37620-1720
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    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
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