Building Details

Year Built 1953

Listing Agency: Coldwell Banker Commercial Read & Co.

Listed By: Luke Dykeman · License #VA Show Phone

Source: Crexi

Added: Jul 27 Changed: Oct 25 Last Checked: Nov 3 at 5:16AM

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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.

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Investment Insights

Based on property information with market context.

This restaurant and bar building is positioned for an owner-user or investment approach. The property is set up as a restaurant and bar, with flexible real estate use supported by B4 Urban Commercial District zoning, which allows for restaurant, retail, office, and entertainment.

Situated at 1124 Church St in Downtown Lynchburg’s Central Business District, the building is located in the heart of the city’s growing restaurant and entertainment corridor.

The building was constructed in 1953 and contains 5,622 SF, offering an existing hospitality-focused layout for qualified tenants or buyers seeking a downtown location with zoning flexibility.

Key Highlights

• 5,622 SF restaurant and bar building
• B4 Urban Commercial District zoning supports restaurant, retail, office, and entertainment
• Located in Downtown Lynchburg’s Central Business District

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,089

Cap Rate

5.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,461,780 $1.5M

Cap Rate 7%

$1,044,129 $1.0M

Cap Rate 9%

$812,100 $812.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,622 SF

Gross rent

$101.2K $18.00/SF

− Vacancy

−$3.7K −$0.67/SF

EGI

$97.5K $17.33/SF

− OpEx

−$24.4K −$4.33/SF

NOI

$73.1K $13.00/SF

Area

Lynchburg County, VA

Vacancy

3.70%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,461,780

Cap Rate 7%

$1,044,129

Cap Rate 9%

$812,100

Alternative Uses

Best Use

Specialty Retail

$1.04M

$913.6K – $1.22M (±1% cap)

NOI $73,089 @ 7.0% cap · market cap 5.62%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.67M

$1.46M – $1.94M (±1% cap)

NOI $116,578 @ 7.0% cap · market cap 8.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Crisp Take-out & Catering

Suggested Use

Top Pick Dental Office Skin Care Clinic Kitchen & Bath Showroom Electrical Service Locksmith Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,286

Businesses Nearby

6k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 86% Electronics 14%

Virginia ABC Groceries

5,102 visits/mo 0.1 miles

Metro by T-Mobile Electronics

816 visits/mo 0.5 miles

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant and bar space in the B4 Urban Commercial District, located in Downtown Lynchburg’s Central Business District.

Where is this conventional restaurant located?

The property is located at 1124 CHURCH ST LYNCHBURG VA 24504 Lynchburg, VA.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 5,622 SF restaurant and bar building; B4 Urban Commercial District zoning supports restaurant, retail, office, and entertainment; Located in Downtown Lynchburg’s Central Business District