Former School with Adaptive Reuse Potential | 1717 Bristol Caverns Hwy
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Former School with Adaptive Reuse Potential 1717 Bristol Caverns Hwy
46,475 SF Specialty Building Online Auction Sale Bristol, TN 37620
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Investment Highlights
- 46,475 square-foot former school and community center w/ tremendous value-add upside through a variety of methods including conversion to apartments.
- 1717 Bristol Caverns Highway was previously a middle school and a community center, and has existing infrastructure to support continued operations.
- Bristol Motor Speedway is a large demand driver for the area, playing host to numerous NASCAR races, college football games, and soon to host the MLB.
- Situated on nearly 16 acres of land just off of busy U.S. Highway 241, making it highly visible and highly accessible to those in and around Bristol.
- Sitting just off U.S. Highway 241, the property resides less than 15 minutes from Downtown Bristol & less than 20 minutes from Bristol Motor Speedway.
Executive Summary
The Addington Agency is pleased to exclusively present a rare investment opportunity to acquire a vacant educational facility with tremendous value-add upside through a variety of repurposing efforts. 1717 Bristol Caverns Highway in Bristol, Tennessee is a 46,475+/- square-foot school building that was delivered in 1940 on an expansive 15.94+/- acre lot with A-1 zoning. The property was previously home to Holston Valley Middle School and Impact Community Center, and the asset still has much of the existing community center/school infrastructure. A new owner could find strong value-add upside through a conversion or redevelopment into multifamily units, assisted living/senior living units, or self-storage.
The property is primely positioned on Bristol Caverns Highway, just off the heavily trafficked U.S. Highway 421, providing convenient access to downtown Bristol in under 15 minutes. 1717 Bristol Caverns Highway is also located within 20 minutes of one of Bristol's top demand drivers, Bristol Motor Speedway. Bristol Motor Speedway is a 146,000-seat, historic racetrack that has played as host to annual NASCAR races, college football games, and other major entertainment events for over 60 years. 2025 will mark the first year that an MLB game will be played at Bristol Motor Speedway, and the state of Tennessee, which is sure to draw crowds with nearby states not having an MLB team.
1717 Bristol Caverns Highway is ideally located in a thriving pocket of Bristol, Tennessee. The 3-mile population accounts for over 6,700 residents with a solid average household income above $85,000. The 3-mile population spends over $93M annually in total specified consumer spending with over $15M going towards household expenses. Just 18% of the 3-mile radius rents as their primary form of housing, and a new multifamily or senior living community could capture some of the population looking to rent rather than own.
1717 Bristol Caverns Highway is a fantastic investment offering with future upside through a variety of conversion opportunities.
The property is primely positioned on Bristol Caverns Highway, just off the heavily trafficked U.S. Highway 421, providing convenient access to downtown Bristol in under 15 minutes. 1717 Bristol Caverns Highway is also located within 20 minutes of one of Bristol's top demand drivers, Bristol Motor Speedway. Bristol Motor Speedway is a 146,000-seat, historic racetrack that has played as host to annual NASCAR races, college football games, and other major entertainment events for over 60 years. 2025 will mark the first year that an MLB game will be played at Bristol Motor Speedway, and the state of Tennessee, which is sure to draw crowds with nearby states not having an MLB team.
1717 Bristol Caverns Highway is ideally located in a thriving pocket of Bristol, Tennessee. The 3-mile population accounts for over 6,700 residents with a solid average household income above $85,000. The 3-mile population spends over $93M annually in total specified consumer spending with over $15M going towards household expenses. Just 18% of the 3-mile radius rents as their primary form of housing, and a new multifamily or senior living community could capture some of the population looking to rent rather than own.
1717 Bristol Caverns Highway is a fantastic investment offering with future upside through a variety of conversion opportunities.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Property Facts
| Sale Type | Investment | Lot Size | 15.94 AC |
| Sale Conditions | Auction Sale | Building Size | 46,475 SF |
| Property Type | Specialty | No. Stories | 2 |
| Property Subtype | Schools | Year Built | 1940 |
| Building Class | C | Parking Ratio | 0.86/1,000 SF |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Specialty |
| Property Subtype | Schools |
| Building Class | C |
| Lot Size | 15.94 AC |
| Building Size | 46,475 SF |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 0.86/1,000 SF |
Amenities
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $394,000 | |
| Land Assessment | $102,400 | Total Assessment | $496,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$102,400
Improvements Assessment
$394,000
Total Assessment
$496,400
zoning
| Zoning Code | A-1 |
| A-1 |
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
John Artozqui
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 265318. (888) 952-6393
-
Garrett Addington -
The Addington Agency
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Former School with Adaptive Reuse Potential | 1717 Bristol Caverns Hwy
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