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    629 State St Bristol, VA 24201
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    629 State St, Bristol, VA 24201

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    • Commercial real estate
    • 18,911 SF
    • 0.24 lot acres
    For Lease
    $750/Mo
    View Listing →
    Downtown Bristol Industrial-Style Studio Space For Lease
    $750/Mo
    1,157 SF

    Downtown Bristol Industrial-Style Studio Space

    Industrial-style, second-floor studio space in downtown Bristol available for rent.

    629 State Street, Bristol, VA 24201
    View Listing
    Property ID
    US87-1629988
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • LibertyX Bitcoin ATM / Atm

    Property Details for 629 State St

    Year built
    1901
    Lot size
    0.24 lot acres
    Property type
    Commercial real estate
    APN
    37 4 3 4
    APU
    37434

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 24, 2026 — Rmm Holdings Gp — Deed · related $2M · Bank Of Tennessee
    Oct 9, 2025 $1,000,000 Rmm Holdings Gp 629 State St LLC Warranty Deed —
    Oct 19, 2023 — 629 State St LLC City Of Bristol Virginia Deed —
    Nov 19, 2013 $350,000 629 State St LLC Industrial Dev Authority Of City Of Bristol Grant Deed —
    Sep 25, 2013 — Industrial Dev Authority Of Ci City Of Bristol Virginia Grant Deed · related —
    Jan 31, 2012 $375,000 The Computer Haus Nc INC Howard,h Scott Grant Deed —
    — — 629 State St LLC — Deed Of Trust · related $220k · Bank Of Tennessee

    Description

    This exceptional Class A retail property, located at 629 State St, Bristol, VA 24201, offers 18,109 square feet of space, ideally suited for a variety of uses. The building currently features a restaurant space of approximately 9,000 square feet, currently leased at $10,000 per month on a triple net (NNN) lease, and an additional approximately 9,000 square feet of office space with a negotiable lease rate. The asking price for the entire property is $1,800,000. Estimated annual property taxes are $6,800. The property is zoned B-2, providing flexibility for various commercial ventures. This prime location boasts high traffic counts, with 21,877 vehicles daily on US Route 11E, 15,000 on US-11, 12,591 on Anderson Street, and 9,900 on State Street. The surrounding area features a vibrant mix of businesses, including The Southern Churn, Burger Bar, 620 State Restaurant, Birthplace of Country Music Museum, Regions Bank, Domino's, and First Horizon. Strong demographics support this opportunity, with a 3-mile radius population of 34,708 and an average household income of $62,085. The 5 and 7-mile radius demographics show even greater potential with higher populations and average household incomes. This is a rare opportunity to acquire a well-located, established property with significant income potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,071,000
      Market price range: $625k - $2.57M
      AI Estimate
      $960,000
      Market price range: $615k - $2.44M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol
    State
    Virginia
    Longitude
    -82.1847
    Latitude
    36.5954
    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
    2024
    $5,954
    $85,000
    $446,600
    $531,600
    -
    $85,000
    $446,600
    $531,600

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    Bristol, VA 24201
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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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