Two buildings on State Street auctioned off to new buyers
Two vacant buildings on State Street are now sold to new buyers as part of an auction Saturday morning.
501 State Street, which is on the Virginia side was, sold at $320,000 to Brittany and Tyler Rutherford.
They tell us they plan on leasing the ground floor out to a business, and renovating the top two floors for apartments they will also rent.
They also own property across the street.
We talked to Bart Long, owner of Bart Long and Associates, and he says downtown Bristol continues to grow over the years, which is good for our economy.
"There comes construction, there comes jobs. Construction workers, electricians, all these things. And ultimately when the construction work is done you're going to have a new business they're going to be paying business tax all the revenue for sales tax. It's good for the town whether in Bristol, Virginia or Bristol, Tennessee," Long said.
"A little nervous, nerve-racking. But we've been thinking about it for a while and actually look at this building a couple years ago and kind of regretted not buying it then so I'm glad we got the opportunity now," Tyler Rutherford said.
The other building sold is located at 526 State Street, which is on the Tennessee side, and it has two parking lots.
We talked to the buyer, Jeff Jones, who says he hopes to expand property he owns now near the parking lots.
This building was sold for $425,000.