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    3014 Memorial Ave Lynchburg, VA 24501

    For Sale
    $1,100,000

    Upscale Commercial Space, 6,000 sq ft, Lynchburg

    Property size:
    6,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional commercial property, situated at 3014 Memorial Avenue in the heart of Lynchburg, Virginia, presents a unique investment opportunity. The building encompasses a total of 12,000 square feet, with 6,000 square feet of meticulously upgraded, finished space. Recent renovations are extensive and include a complete overhaul of the electrical system, ensuring both efficiency and safety. Five brand-new HVAC units guarantee year-round climate control, while a state-of-the-art security system, featuring cameras, provides peace of mind. The interior boasts stunning new hardwood and marble flooring, upgraded bathrooms, and new chandeliers throughout. A commercial-grade kitchen, complete with new gas lines, is ready for immediate use. The property also features a stage equipped with advanced audio-visual technology, ideal for presentations or performances. Adding to the property's appeal is a newly constructed deck at the rear of the building, providing an outdoor space. Convenient valet parking is facilitated by a leased parking lot. This 0.17-acre property is ideally located for businesses seeking a thriving environment in Lynchburg City. The combination of modern amenities, prime location, and significant upgrades makes this an exceptional opportunity for discerning investors.

    Property Features for 3014 Memorial Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,000 SF
    Lot Size
    7,405 SF

    Building Details

    Year Built
    1947
    Insight Report Location Intelligence

    Current Use by Public Records

    Club Truth Va ... Comedy Club CLUB TRUTH VA. ... Comedy Club

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -79.17015
    Latitude
    37.39722

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    FAQs

    What type of property is this?
    Commercial real estate - Upscale Commercial Space, 6,000 sq ft, Lynchburg
    Where is this commercial real estate located?
    The property is located at 3014 Memorial Ave Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    (434) 237-3777
    Request Owner's contact information
    3014 Memorial Ave Lynchburg, VA 24501
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    Lynchburg, VA 24501
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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
    3014 Memorial Ave Lynchburg, VA 24501
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