Historical Tobacco Warehouse
For Sale
Contact for pricing
107 13th St, Lynchburg, VA 24504
45,000 SF downtown Lynchburg warehouse with development potential.
Property Size45,000 SF
Price / SF$57.56
Days on Market100
Property Features for 107 13th St
General Information
Standard status
Active
Size
45,000 SF
Total Parking Spaces
10
Property subtype
Retail, Land, Self Storage
Building Details
Year Built
1899
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Forehand & Co Realtors
Listed By:
Moyanne Harding · License #0226023827
Source:
Crexi
Added: May 23
Changed: Aug 21
Last Checked: Aug 29 at 6:05PM
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 Forehand & Co Realtors
Investment Insights
Based on property information with market context.
This 45,000-square-foot, two-story warehouse is located in downtown Lynchburg. The building, one of the last historical tobacco warehouses in the area, spans an entire block from 12th to 13th Street, fronting Commerce Street. It features 35-foot ceilings lined with skylights, four garage doors, a full kitchen, three and a half bathrooms, and one full bath. The property has three addresses and includes a huge storage space. Currently used as an estate furniture retail shop, the building has previously served as an interior design studio, real estate office, wine lounge, and events venue. A multifamily residential development plan has been designed, including a floor plan with conceptual renderings. Other potential uses include a storage facility or a large indoor parking garage. Historical tax credits may be available.
Key Highlights
- 45,000 sq ft warehouse in Downtown Lynchburg with development potential.
- Historical tobacco warehouse with potential for Historical Tax Credits.
- Includes Multifamily Residential Development Plan with floor plan and Conceptual Renderings.
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
$227,273
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
8.78%
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%
$4,545,460
$4.5M
Cap Rate 7%
$3,246,757
$3.2M
Cap Rate 9%
$2,525,256
$2.5M
Market Conditions
NOI Build-Up for 45,000 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
$351.0K $7.80/SF
− Vacancy
−$26.3K −$0.59/SF
EGI
$324.7K $7.22/SF
− OpEx
−$97.4K −$2.16/SF
NOI
$227.3K $5.05/SF
Area
Lynchburg County, VA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$4,545,460
Cap Rate 7%
$3,246,757
Cap Rate 9%
$2,525,256
Alternative Uses
Best Use
Retail
$7.80M
$6.83M – $9.10M
NOI $546,021 @ 7.0% cap · market cap 21.08%
Second Best
Mixed Use
$4.88M
$4.27M – $5.69M
NOI $341,550 @ 7.0% cap · market cap 13.19%
Theoretical Best
Office A
$13.33M
$11.66M – $15.55M
NOI $933,120 @ 7.0% cap · market cap 36.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 24504, VA
9,585
Population
5,206
Households
1.8
Avg Household Size
37
Median Age
24%
College-Educated
88%
High-School Grad
37.5 sq mi
ZIP Area
256
Density / Sq Mi
$50,739
Median Household Income
$34,265
Median Earnings
$998
Median Rent
$183,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 45,000 SF downtown Lynchburg warehouse with development potential.
Where is this retail space located?
The property is located at 107 13th St Lynchburg, VA.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: 45,000 sq ft warehouse in Downtown Lynchburg with development potential.; Historical tobacco warehouse with potential for Historical Tax Credits.; Includes Multifamily Residential Development Plan with floor plan and Conceptual Renderings.
