Ferrell Property

Retail-Commercial for Sale
Catylist Listing ID: 30048414
Property Subtypes: Retail-Pad, Street Retail, Vehicle Related, Other
Building Size (RSF): 1,840 SF
Gross Building Area: 16,117 SF
Gross Land Area: 0.37 Acres
Sale Price: $159,000
Unit Price: $86.41 PSF
Property Use Type: Vacant/Owner-User
Building Name: Ferrell Building
Usable Size (USF): 16,117 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/25/2017

Overview / Comments

Rarely are corner tracts or buildings available on State Street in Bristol, Tennessee but the Owner says, "Let it Go". This building lot with an older home and a small cottage is located on the corner of 23rd and State Street, and are available For Sale at a great price. With 104 feet along State Street and nearly 155 feet deep this lot could be re-purposed for a great number of uses including renovating the house and fixing up the cottage to be part of a rental regime, or the property could be scrapped and utilized for a new purpose. This corner is well positioned and could be utilized for a small retail or office building as it has excellent visibility and location. Less than 1.25 miles to the interstate and part of the Bristol downtown, this could be a great new opportunity for nearly any business.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Sullivan
Taxing Authority: Sullivan County
Tax ID/APN: 020C A 001.00
Zoning: B-3
Retail Clientele: General, Business
Property Located Between: Euclid Ave & Commonwealth Ave
Property Visibility: Excellent
Largest Nearby Street: State Street
Highway Access: State Street is designated with a number of State Hwy Route numbers, but this site is less than 1.25 miles from I-81
Airports: TRI - Tri Cities Regional Airport
Site Description: With 104' of frontage this lot is slightly elevated above the street and provides a great opportunity to create a first rate business site.
Area Description: Downtown Bristol is still a vibrant and happening place with a number of new businesses opening over the last 2 years and more opportunities to come.
Tenancy: Single Tenant
Total Number of Buildings: 2
Property Condition: Poor
Year Built: 1933
Roof Type: Gable
Construction/Siding: Brick/Aluminum Siding
Exterior Description: The front house is a brick home in need of repairs, and the cottage has aluminum siding and is current being Leased.
Parking Type: Surface
Parking Description: No parking is set aside at this time.
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard
Internet Access: Cable, DSL, Satellite
Interior Description: Both properties are in need of renovation.
Zoning Description: B-3, Business Zoning which includes one of the broadest categories for business use.
Lot Frontage: 104'
Lot Depth: 150'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Easements are set aside for municipal utilities.
Land Ownership: Fee Simple
Legal Description: Upon request.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,329 34,945 57,200
Median Age: 41.84 41.23 42.22
Households: 2,414 15,109 24,600
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