601 Commonwealth AVE Bristol, VA 24201
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,018 sqft
Price per Sqft $249
MLS Listing ID 9997811
HOA Y/N No
Total Fin. Sqft 5018
Year Built 1971
Lot Size 0.530 Acres
Acres 0.53
Lot Dimensions See aerials
Source Tennessee/Virginia Regional MLS
Property Description
Acquire an income-producing commercial property with established tenants, strong visibility, and future expansion potential at the prominent corner of Commonwealth Avenue and Euclid Avenue.
Situated on approximately 0.54 acres, the property features a commercial building offering approximately 2,536 square feet of usable space and is currently occupied by two active tenants paying $1,500 and $2,500 per month, generating combined gross rental income of $4,000 per month, or $48,000 annually.
The property benefits from excellent exposure at a highly traveled intersection, with VDOT traffic estimates indicating approximately 11,500 vehicles pass this corner each day. Its strategic location places the property approximately 1.9 miles from the Hard Rock Hotel & Casino Bristol, 1.5 miles from Interstate 81, and just 1.1 miles from historic Downtown Bristol.
Additional growth potential may be available through the acquisition of approximately 0.35 acres of adjoining property located along Euclid Avenue, which is available for separate negotiation. If acquired, the combined site could offer approximately 0.89 acres and create additional possibilities for expansion, parking, redevelopment, or future commercial use, subject to applicable zoning and approvals.
This offering presents investors with a compelling combination of immediate rental income, established occupancy, high daily traffic exposure, regional accessibility, and long-term strategic potential in the growing Bristol market. Continue operating as an income-producing investment or explore future opportunities to reposition and expand the site.
IT IS THE SOLE RESPONSIBILITY OF BUYER AND BUYER AGENT TO VERIFY ALL INFORMATION CONTAINED HEREIN
Location
State VA
County Bristol City
Area 0.53
Zoning Commercial/Ind.
Direction Head southwest on I-81 S. Take exit 1A to merge onto US-421 S/US-58 E toward Bristol. Continue to follow US-421 S. Turn left onto Catherine St. Turn right onto Vance St. Turn left onto Euclid Ave. Turn left onto Commonwealth Ave. Destination will be on the right.
Interior
Heating Central
Cooling Central Air
Equipment Additional Building(s), Smoke Detector(s)
Heat Source Central
Exterior
Utilities Available Electricity Connected, Water Connected
Roof Type Composition
Road Frontage City Street
Building
Sewer Public Sewer
Water Public
Structure Type Metal Siding,Stucco,Vinyl Siding
New Construction No
Others
Senior Community No
Tax ID 26 429 1 2 3
Acceptable Financing Cash, Conventional, FHA, VA Loan, See Remarks
Listing Terms Cash, Conventional, FHA, VA Loan, See Remarks
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