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    1700 Elm St Lynchburg, VA 24504

    For Sale
    $79,990

    High-traffic location, versatile zoning, rental potential.

    Property size:
    1,050 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This 0.51-acre commercial property at 1700 Elm Street in Lynchburg, VA, presents a unique investment opportunity. The 1,050 square foot building is currently vacant but boasts a potential monthly rental income of $695, subject to a grandfather clause. Its strategic location offers excellent visibility, situated off the cloverleaf of Route 29 Northbound, adjacent to the Lynchburg Expressway and Main Street. Zoning is currently unclear, with conflicting information indicating both commercial and industrial designations. Further investigation into the precise zoning classification is recommended. The property borders a railroad line at its rear. This versatile lot offers significant potential for a variety of commercial uses, making it an attractive prospect for investors seeking a high-traffic location with established rental income potential or a redevelopment opportunity. The asking price is $79,990. Given the conflicting zoning information and the potential for rental income, due diligence is strongly advised before purchase. The property's location and size make it a compelling investment in a growing area.

    Property Features for 1700 Elm St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,050 SF
    Lot Size
    22,216 SF

    Building Details

    Year Built
    1900
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg
    State
    Virginia
    Longitude
    -79.13481
    Latitude
    37.40813

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    FAQs

    What type of property is this?
    Commercial real estate - High-traffic location, versatile zoning, rental potential.
    Where is this commercial real estate located?
    The property is located at 1700 Elm St Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $79,990.
    (434) 665-9889
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    1700 Elm St Lynchburg, VA 24504
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    Realmo Value Estimation

    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.

    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.

    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
    1700 Elm St Lynchburg, VA 24504
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