Mixed-Use Property with Three
For Sale
$799,900
821 Main Street, Lynchburg, VA 24504
Multi-Family, Lynchburg, VA
Property Size6,930 SF
Lot Size0.06 Acres
Price / SF$115.43
Days on Market20
Property Features for 821 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B4
Bedrooms
3
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 1
Parking features
On Street
Subdivision
Downtown-Central Business Dist
Elementary school
Perrymont Elem
Middle school
PL Dunbar Midl
High school
Heritage High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
5th street to Main Street Downtown Lynchburg, Across the street from the Bank of the James Building.
Standard status
Active
APN
02447009
Size
6,930 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
BLK 5
Legal Description
BLK 5
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump, Electric, Central Air
Building Details
Year built
1875
Number of units
4
Listing Agency:
John Stewart Walker, Inc
(434) 385-6655
Listed By:
Kensie W Johnson · License #0225046787
(434) 941-9749
Added: Sep 18
Changed: Sep 24
Last Checked: Oct 7 at 1:06AM
MLS# 369329
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 6,930-square-foot mixed-use building combines a ground-level commercial area with three upper-floor apartments. The commercial component encompasses over 2000 square feet and is currently available for occupancy, while each residence offers one bedroom and one bathroom. All three apartments have long-term tenants in place.
Built in 1875, the property is located at 821 Main Street in downtown Lynchburg, along a corridor near shopping, dining, entertainment, employers, and the James River. B-4 zoning accommodates a range of commercial and residential uses, and parking is available on the street.
The property includes four bathrooms and three bedrooms overall, with central air, electric cooling, natural gas, and heat-pump systems among the listed building features.
Built in 1875, the property is located at 821 Main Street in downtown Lynchburg, along a corridor near shopping, dining, entertainment, employers, and the James River. B-4 zoning accommodates a range of commercial and residential uses, and parking is available on the street.
The property includes four bathrooms and three bedrooms overall, with central air, electric cooling, natural gas, and heat-pump systems among the listed building features.
Key Highlights
- 6,930 square feet of total property area
- Over 2000 square feet of ground‑floor commercial space
- Three 1‑bedroom, 1‑bath apartments with long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,008
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,160
$1.2M
Cap Rate 7%
$857,257
$857.3K
Cap Rate 9%
$666,756
$666.8K
Market Conditions
NOI Build-Up for 6,930 SF
Gross rent
$95.6K $13.80/SF
− Vacancy
−$9.9K −$1.43/SF
EGI
$85.7K $12.37/SF
− OpEx
−$25.7K −$3.71/SF
NOI
$60.0K $8.66/SF
Area
Lynchburg County, VA
Vacancy
10.36%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,160
Cap Rate 7%
$857,257
Cap Rate 9%
$666,756
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,087 @ 7.0% cap · market cap 10.51%
Second Best
Multifamily LT 5
$857.3K
$750.1K – $1.00M
NOI $60,008 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,700 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 24504, VA
9,585
Population
5,206
Households
1.8
Avg Household Size
37
Median Age
24%
College-Educated
88%
High-School Grad
37.5 sq mi
ZIP Area
256
Density / Sq Mi
$50,739
Median Household Income
$34,265
Median Earnings
$998
Median Rent
$183,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - B-4 zoning supports a combination of commercial space and residential apartments in downtown Lynchburg.
Where is this mixed-use property located?
The property is located at 821 Main Street Lynchburg, VA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 6,930 square feet of total property area; Over 2000 square feet of ground‑floor commercial space; Three 1‑bedroom, 1‑bath apartments with long‑term tenants
