Add Listing
    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

    1001 1003 Ardmore Drive Lynchburg, VA 24501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $395,000

    Land for sale at a highly developed intersection.

    Type:Land
    Added:
    Mar 5, 2026
    Days on Market:
    28
    Last Refresh:
    Mar 25 at 9:05 pm

    Property Features for 1001 1003 Ardmore Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Ricky Read
    Ricky Read

    Listing agent Ricky Read

    Listing office Coldwell Banker Commercial | Read & Co.

    Listing date Mar 5, 2026

    Source Cbcworldwide

    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 & Co.

    Overview

    Land at Signalized Intersection

    Located at the signalized intersection of Ardmore Drive and Old Forest Road, this property comprises two lots. One of the lots currently features a brick ranch dwelling. The surrounding area is highly developed, with a Walmart shopping center situated across Old Forest Road and several fast-food restaurants in close proximity. The property is located across from the Walmart. For commercial use, the property would require rezoning.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg
    State
    Virginia
    Longitude
    -79.2132
    Latitude
    37.4108

    Nearby Similar for Sale

    • $695,000
      3,200 SF

      Retail or Office Space Available

      Versatile retail space with potential for various commercial uses.
      10925 Richmond Hwy, Lynchburg, VA 24504
      View Details
    • $995,000

      Redeveloped Office Building on Fort

      Three-story office building in high-traffic Lynchburg corridor.
      5200 Fort Ave, Lynchburg, VA 24502
      View Details
    • $334,900
      3,072 SF

      Turnkey Triplex on Rivermont Avenue

      Triplex in prime location, ideal for rental income.
      2461 Rivermont Avenue, Lynchburg, VA 24503
      View Details
    • $1,250,000
      6,215 SF

      Lynchburg Commercial Property For Sale

      Thriving commercial property with a large building and ample parking.
      4001 Murray, Lynchburg, VA 24501
      View Details
    • $205,000
      4,500 SF

      Commercial Property in High-Traffic Area

      Thriving storefront with storage, remodeled bathroom, suitable for retail/office.
      5218 Fort Avenue, Lynchburg, VA 24502
      View Details
    • $1,300,000
      24,508 SF

      Downtown Commercial Building on Main

      Prominent mixed-use building with high visibility and redevelopment potential.
      1026 Main Street, Lynchburg, VA 24504
      View Details
    • $369,000

      Rivermont Historic District Storefront

      Commercial storefront in Rivermont historic district with ample office space.
      1214 Rivermont Avenue, Lynchburg, VA 24504
      View Details
    • $379,900
      2,276 SF

      Duplex Near Liberty University

      Well-maintained duplex near Liberty University with immediate income potential.
      148 Edgewood Drive, Lynchburg, VA 24502
      View Details
    • $599,900
      2,599 SF

      Lynchburg Commercial Property For Sale

      Versatile commercial property with office and residential income potential.
      155 Laxton Road, Lynchburg, VA 24502
      View Details
    • $175,000

      Lynchburg Warehouse Redevelopment Opportunity

      Circa 1878 warehouse for redevelopment in downtown Lynchburg.
      29 Cabell Street, Lynchburg, VA 24504
      View Details
    • $900,000

      Multifamily Opportunity in Lynchburg, VA

      Multifamily property with development potential for investors and builders.
      309 Wyndale Drive, Lynchburg, VA 24501
      View Details
    • $620,000

      Lynchburg Multifamily Investment Opportunity

      Six-unit portfolio with recent upgrades in prime location.
      4327-4337 Sussex, Lynchburg, VA 24502
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land for sale at a highly developed intersection.
    Where is this commercial land located?
    The property is located at 1001 1003 Ardmore Drive Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Highly visible location at a signalized intersection (Ardmore Dr. & Old Forest Rd.); Located across from a Walmart shopping center.; Close proximity to numerous fast food restaurants.
    (434) 944-3920
    We can help!
    Listing Contact
    Ricky Read
    Ricky Read
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!