Office Space on Richeson
For Sale
$350,000
100 Richeson Drive, Lynchburg, VA 24501
1,325 sq ft office space on 0.555 acres.
Property Size1,325 SF
Lot Size0.56 Acres
Price / SF$264.15
Days on Market183
Property Features for 100 Richeson Drive
General Information
Standard status
Active
Size
1,325 SF
Lot size
0.56 Acres
Property subtype
Office
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Commercial Read & Company
Listed By:
Ricky Read · License #0226023041
(434) 455-2285
Source:
Cbcworldwide
Added: Mar 5
Changed: Jul 6
Last Checked: Apr 9 at 9:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Read & Company
Investment Insights
Based on property information with market context.
This 1,325 sq. ft. office space is situated on a 0.555-acre lot and offers potential for various uses. The property benefits from good visibility and includes on-site parking, making it suitable for an owner-occupant. Zoned B-1, the property supports a range of light commercial and office uses, offering flexibility for medical practices, professional services, or boutique businesses.
Key Highlights
- 1,325 sq. ft. office space suitable for various uses
- B‑1 zoning allows for flexible commercial and office applications
- Good visibility for attracting clients or customers
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
$20,034
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
5.72%
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%
$400,680
$400.7K
Cap Rate 7%
$286,200
$286.2K
Cap Rate 9%
$222,600
$222.6K
Market Conditions
NOI Build-Up for 1,325 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
$27.8K $21.00/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$26.7K $20.16/SF
− OpEx
−$6.7K −$5.04/SF
NOI
$20.0K $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%
$400,680
Cap Rate 7%
$286,200
Cap Rate 9%
$222,600
Alternative Uses
Best Use
Office B
$286.2K
$250.4K – $333.9K
NOI $20,034 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$392.5K
$343.4K – $457.9K
NOI $27,475 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
428
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
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Frequently Asked Questions
What type of property is this?
Office units - 1,325 sq ft office space on 0.555 acres.
Where is this office units located?
The property is located at 100 Richeson Drive Lynchburg, VA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,325 sq. ft. office space suitable for various uses; B‑1 zoning allows for flexible commercial and office applications; Good visibility for attracting clients or customers
