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601 Commonwealth Avenue

Bristol VA 24201
MLS #9997811 · Listing Courtesy of LPT Realty - Griffin Home Group
$1,250,000
Active
5,018
Sq Ft
0.53
Acres
1971
Built
601 Commonwealth Avenue, Bristol, VA 24201, photo 1 of 33
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Property Description
INVESTMENT OPPORTUNITY IN BRISTOL, VIRGINIA. 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
Property Facts
Property TypeCommercial Sale
MLS Number9997811
City Taxes$3,092.32
County Taxes$0
Features & Amenities
Interior
Additional Building(s)
Central Air
Central Heating
Smoke Detector(s)
Exterior
City Street
Cleared
Composition Roof
Metal Siding Exterior
Stucco Exterior
Vinyl Siding Exterior
Other
220 Volts
Average Condition
Electricity Connected
Public Sewer
Public Water
Retail
Shopping
Water Connected
Directions
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.
  • Additional Information
    Contract Info
    ForeclosureNo
    General Property Description
    Annual Lease0
    HOANo
    LeaseNo
    Lot SizeSee aerials
    Stories1
    Total Finished SqFt5,018
    Unfinished SqFt0
    ZoningCommercial/Ind.
    Info Available
    OtherYes
    See RemarksYes
    Location Tax Legal Info
    Block29
    Deed Book #657
    Deed Page #845
    Lot #1-3
    Restrictions
    OtherYes
    See RemarksYes
    Sale Includes
    See RemarksYes
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