15589 Lee Hwy - Hospitality FOR SALE


Bristol, VA 24202
$5,395,000 USD
865-936-9999
15589 Lee Hwy, Bristol, VA for Sale
$5,395,000 USD
Hospitality - FOR SALE
1/32
null | Request Cap Rate

15589 Lee Hwy
Bristol, VA 24202


HIGHLIGHTS

  • 60 Units - All Studio Style
  • Recently Renovated
  • Located in the Booming Tri-Cities

OVERVIEW

SVN | Wood Properties is pleased to exclusively present 15589 Lee Highway in Bristol, VA. This property has been completely renovated and is ready to cashflow! Formally a motel, this conversion now provides 60 studio style units that are located just off I-81. Located minutes from the new Amazon off of Exit #7, and less that 15 minutes to the new Hard Rock Casino. Great investment in a fast growing market. Bristol, located in southwestern Virginia, is part of the region known as the Tri-Cities, which includes Bristol, Kingsport, and Johnson City. This property is a short drive from several local schools, major retailers, and restaurants.? Additionally, the property is a 10 minute drive from the newly constructed Hard Rock Casino and is also near Bristol Motor Speedway.? With easy interstate access, tenants will be able to quickly travel throughout the Tri-Cities.?

FOR SALE DETAILS

PRICE

$5,395,000 USD

PRICE/SF

$238 USD /SF

# OF ROOMS

60

PRICE/ROOM

$89,917 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15589 Lee Highway Legacy Apartments

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.92 AC

LAND SF

127,195 SF

ZONING

C

APN/PARCEL ID

143A4-A-7

ASK ABOUT THIS PROPERTY

Kevin TiptonSVN | Wood PropertiesMore Info
865-936-9999

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Kevin TiptonSVN | Wood PropertiesMore Info
865-936-9999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.