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

    3000 Memorial Ave Lynchburg, VA 24501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $298,000

    High-traffic location, B-3 zoning. Ideal for various businesses.

    Property size:
    1,644 SF

    Property Features for 3000 Memorial Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,644 SF
    Lot Size
    12,632 SF

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    Pete Sims

    Listing Agency: Sims Realty & Mortgage Corp Listing Agent: Pete Sims

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 1,644 square foot commercial property, situated on a 0.29-acre lot at the highly visible corner of Oakley Avenue and Memorial Avenue in Lynchburg, Virginia, presents a remarkable investment opportunity. Its prime location ensures maximum exposure to a substantial daily traffic flow, making it exceptionally suitable for a diverse range of businesses. The B-3 zoning allows for a variety of uses, including but not limited to auto repair shops, gas stations, convenience stores, auto sales dealerships, and hair salons. The property's size offers ample space for both operations and potential expansion, catering to the needs of a growing enterprise. The strategic corner location provides excellent visibility and accessibility, enhancing customer convenience and attracting a wider clientele. This property represents a rare chance to acquire a well-positioned commercial asset in a thriving area of Lynchburg, offering significant potential for return on investment. Serious inquiries are encouraged to explore the possibilities this exceptional location offers. The property is priced competitively at $298,000, reflecting its prime location and versatile zoning. Don't miss this opportunity to secure a valuable piece of Lynchburg commercial real estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sandy's Towing Auto Repair Shop Sandy’s Towing and Tires ... Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg
    State
    Virginia
    Longitude
    -79.16988
    Latitude
    37.39759

    Nearby Similar for Sale

    • $1,100,000
      7,675 SF

      Redeveloped Office Building For Sale

      Three-story office building in high-traffic Lynchburg corridor.
      5200 Fort Ave, Lynchburg, VA 24502
      View Details
    • $695,000
      3,200 SF

      Retail or Office Space Available

      Retail or professional/office space with unlimited potential.
      10925 Richmond Hwy, Lynchburg, VA 24504
      View Details
    • $355,000
      0.05 Acres

      Lynchburg Office Property For Sale

      3,600 SF office property configured for two tenants.
      2250 Murrell Rd, Lynchburg, VA 24501
      View Details
    • $369,000
      0.09 Acres

      Rivermont Historic District Commercial Storefront

      Commercial storefront in Lynchburg's Rivermont historic district with ample office space.
      1214 Rivermont Ave, Lynchburg, VA 24504
      View Details
    • $175,000
      14,000 SF

      Lynchburg Warehouse Redevelopment Opportunity

      Circa 1878 warehouse for redevelopment in downtown Lynchburg.
      29 Cabell St, Lynchburg, VA 24504
      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 Pl, 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 Ave, 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 St, Lynchburg, VA 24504
      View Details
    • $2,900,000
      45,000 SF

      Historical Tobacco Warehouse Opportunity

      Spacious warehouse in Downtown Lynchburg with development potential.
      107 13Th St, Lynchburg, VA 24504
      View Details
    • $599,900
      2,599 SF

      Lynchburg Commercial Property For Sale

      Versatile commercial property with office and residential income potential.
      155 Laxton Rd, Lynchburg, VA 24502
      View Details
    • $399,000
      2,276 SF

      Lynchburg Duplex with Recent Upgrades

      Well-maintained duplex near Liberty University with new exterior and systems.
      148 Edgewood Dr, Lynchburg, VA 24502
      View Details
    • $1,100,000
      10,692 SF

      Lynchburg Multifamily Investment Opportunity

      Well-maintained 12-unit multifamily property in Lynchburg, generating positive cash flow.
      1200 Liggates Rd, Lynchburg, VA 24502
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-traffic location, B-3 zoning. Ideal for various businesses.
    Where is this commercial real estate located?
    The property is located at 3000 Memorial Ave Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $298,000.
    (434) 845-2383
    Request Owner's contact information
    3000 Memorial Ave Lynchburg, VA 24501
    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.
    3000 Memorial Ave
    Lynchburg, VA 24501
    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
    3000 Memorial Ave Lynchburg, VA 24501
    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
    Pete Sims
    (434) 845-2383
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!