Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3714 Waterlick Rd Forest, VA 24551

    Sponsored
    For Sale
    $699,900

    Commercial/Indust - Forest, VA

    Lot size:
    2.31 Acres
    Days on Market:
    95
    Last Refresh:
    Jan 23 at 10:06 pm

    Property Features for 3714 Waterlick Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    BGC
    Lot size
    2.31 Acres

    Building Details

    Year built
    2023
    Flooring type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Jimmy Miller
    Jimmy Miller

    John Stewart Walker, Inc. (434) 385-6655

    Listing agent Jimmy Miller (434) 385-6655 License #0225201733

    Listing date Oct 21, 2025

    MLS# 355552 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    2.3 AC Commercial Property

    This unique 2.305-acre commercial property is located on Waterlick Road in Forest, Virginia. The property, which is zoned BGC, is designed to be a Railroad Diner, offering the opportunity to customize the space. Windows and other materials are included in the sale. The property includes an entrance, exit, grease trap, sediment pond, well, and septic system. The property is under construction and is being sold As-is. The intended use of the property is commercial, with potential for various business opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Breakfast & diners

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forest
    County
    Bedford
    State
    Virginia
    Longitude
    -79.2545529
    Latitude
    37.3313092

    Nearby Similar for Sale

    • $349,000
      1,850 SF

      Renovated Farmhouse with Mountain Views

      Charming 4-bedroom farmhouse on 1.3 acres with Blue Ridge views.
      1106 Gladden Cir, Forest, VA 24551
      View Details
    • $324,900
      0.56 Acres

      Commercial Property Near Liberty University

      Commercial property in Forest, VA, near US-460 and Liberty University.
      5634 Thomas Jefferson Rd, Forest, VA 24551
      View Details
    • $645,000
      3,096 SF

      New Construction Farm House Residence

      Five-bedroom home with modern finishes in Forest, Virginia.
      1267 Harborough Dr, Forest, VA 24551
      View Details
    • $320,000
      2,300 SF

      Jefferson Oaks Townhome with Basement

      End unit townhome with full basement in Jefferson Oaks.
      1245 Jefferson Oaks Ct, Forest, VA 24551
      View Details
    • $395,000
      9,999 SF

      Forest Road Commercial Land Opportunity

      High-visibility commercial lot, US 221 frontage.
      17513 Forest Rd, Forest, VA 24551
      View Details
    • $803,500
      1 SF

      Forest Commercial Property: Railroad Diner Potential

      Unique 2.3-acre commercial lot, partially built.
      3714 Waterlick Rd, Forest, VA 24551
      View Details
    • $1,200,000
      6,400 SF

      Forest, VA Commercial Property

      Two buildings, high income potential
      1129 Thomas Jefferson Rd, Forest, VA 24551
      View Details

    FAQs

    What type of property is this?
    Breakfast & diner - Unique commercial property with potential for various business opportunities.
    Where is this breakfast & diner located?
    The property is located at 3714 Waterlick Rd Forest, VA.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: - Unique 2.3-acre commercial property on Waterlick Rd.; - Designed to be a Railroad Diner; customize the final design.; - Includes windows and other building materials.
    (434) 942-8547
    Request Owner's contact information
    3714 Waterlick Rd Forest, VA 24551
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3714 Waterlick Rd
    Forest, VA 24551
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3714 Waterlick Rd Forest, VA 24551
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jimmy Miller
    Jimmy Miller
    Real Estate License ID: 0225201733
    (434) 942-8547
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.