Existing Office
For Sale
$299,900
1401 Lakeside Drive, Lynchburg, VA 24501
Commercial/Indust, Lynchburg, VA
Property Size1,689 SF
Lot Size0.27 Acres
Price / SF$177.56
Days on Market363
Property Features for 1401 Lakeside Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Commercial Misc
Directions
Property is at the corner of Lakeside Drive and Blue Ridge Street.
Standard status
Active
APN
01413002
Size
1,689 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
WEST LYNCHBURG, SEC 2, BLK 15, PARCEL A
Legal Description
WEST LYNCHBURG, SEC 2, BLK 15, PARCEL A
Building Details
Year built
1961
Listing Agency:
Watts Auction Realty Appraisals Inc
(434) 821-5263
Listed By:
Charlie A Watts II · License #0225086405
(434) 821-5263
Added: Sep 4, 2025
Changed: Aug 19
Last Checked: Sep 1 at 10:06PM
MLS# 361674
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,689-square-foot office building occupies a 0.2723-acre parcel and was constructed in 1961. The property was most recently used for office space, providing an existing commercial layout for continued office use or future repositioning.
Located at 1401 Lakeside Drive in Lynchburg, Virginia, the building sits directly on 221. Its established office history and modest building footprint create a straightforward commercial asset for users seeking a dedicated office property.
Located at 1401 Lakeside Drive in Lynchburg, Virginia, the building sits directly on 221. Its established office history and modest building footprint create a straightforward commercial asset for users seeking a dedicated office property.
Key Highlights
- 1,689‑square‑foot office building
- 0.2723‑acre parcel
- Constructed in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,760
$510.8K
Cap Rate 7%
$364,829
$364.8K
Cap Rate 9%
$283,756
$283.8K
Market Conditions
NOI Build-Up for 1,689 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.5K $21.00/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$34.1K $20.16/SF
− OpEx
−$8.5K −$5.04/SF
NOI
$25.5K $15.12/SF
Area
Lynchburg County, VA
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,760
Cap Rate 7%
$364,829
Cap Rate 9%
$283,756
Alternative Uses
Best Use
Office B
$364.8K
$319.2K – $425.6K
NOI $25,538 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.3K
$437.8K – $583.7K
NOI $35,023 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 24501, VA
27,160
Population
12,157
Households
2.2
Avg Household Size
33
Median Age
25%
College-Educated
87%
High-School Grad
36.3 sq mi
ZIP Area
748
Density / Sq Mi
$45,305
Median Household Income
$28,790
Median Earnings
$936
Median Rent
$155,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Compact commercial property with an established office configuration and direct placement along 221.
Where is this office building located?
The property is located at 1401 Lakeside Drive Lynchburg, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,689‑square‑foot office building; 0.2723‑acre parcel; Constructed in 1961
