TBD King Mill Pike

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TBD King Mill Pike

Bristol, VA 24201
Asking Price
$775K
Asset Type
Apartment Building Land
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Development land available for purchase in Bristol, Virginia.
  • Property is listed at an asking price of $775,000.
  • Site supports potential subdivision for executive residential housing.
  • Suitable for apartment building or multi-family project development.
  • Located along King Mill Pike with central market access.

What's Special

Bristol, Virginia, serves as a significant hub within the Tri-Cities region, characterized by its resilient regional economy and steady population growth. Situated along King Mill Pike, this parcel of land offers a strategic development prospect for investors and builders active in the local multi-family or residential housing sectors. The site provides versatility for developers looking to capitalize on the increasing demand for housing within this Appalachian corridor. With an asking price of $775,000, the property is positioned for those interested in mid-to-large scale residential projects. The existing topography allows for flexibility, including potential subdivision into larger parcels suitable for executive-style single-family homes or a multi-family apartment complex. Its placement in a central area of Bristol facilitates access to regional infrastructure and local services, supporting its long-term viability for residential expansion. This tract represents a functional addition to a portfolio focused on land development in a growing submarket.

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NOI
$80,000
Cap Rate
10.32%
DSCR
1.74
Strong
Cash-on-Cash
14.62%
Monthly Payment
$3,834.277
Annual Cash Flow
$33,988.674

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