Two-Building Office
For Sale
$550,000
117 Northwynd Circle, Lynchburg, VA 24502
Commercial/Indust, Lynchburg, VA
Property Size2,470 SF
Lot Size0.06 Acres
Price / SF$222.67
Days on Market9
Property Features for 117 Northwynd Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Wyndhurst
Directions
Enterprise Drive to Northwynd
Standard status
Active
APN
25020004
Size
2,470 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
City Place & Wyndham @ Wyndhurst Lot 4A
Legal Description
City Place & Wyndham @ Wyndhurst Lot 4A
Building Details
Year built
2004
Listing Agency:
The Real Estate Advantage
(434) 385-8568
Listed By:
Judy F Woten
(434) 401-0110
Added: Sep 17
Changed: Sep 22
Last Checked: Sep 25 at 2:06AM
MLS# 369117
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,470-square-foot office property, built in 2004, includes a completed building arranged across two levels. The first floor provides office areas along with a kitchen, bathroom, and storage room. Upstairs, a mezzanine adds two private offices, another bathroom, and open space that can accommodate additional office functions.
An adjoining unfinished building is included with the property, providing space for a customized buildout. The combination of completed office improvements and additional unfinished area creates a flexible two-building configuration at 117 Northwynd Circle in Lynchburg, Virginia.
An adjoining unfinished building is included with the property, providing space for a customized buildout. The combination of completed office improvements and additional unfinished area creates a flexible two-building configuration at 117 Northwynd Circle in Lynchburg, Virginia.
Key Highlights
- 2,470‑square‑foot office property on a 0.062‑acre lot
- Built in 2004
- Finished office building with first‑floor offices, kitchen, bathroom, and storage room
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
$37,346
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
6.79%
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%
$746,920
$746.9K
Cap Rate 7%
$533,514
$533.5K
Cap Rate 9%
$414,956
$415.0K
Market Conditions
NOI Build-Up for 2,470 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
$51.9K $21.00/SF
− Vacancy
−$2.1K −$0.84/SF
EGI
$49.8K $20.16/SF
− OpEx
−$12.4K −$5.04/SF
NOI
$37.3K $15.12/SF
Area
Lynchburg County, VA
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$746,920
Cap Rate 7%
$533,514
Cap Rate 9%
$414,956
Alternative Uses
Best Use
Office B
$533.5K
$466.8K – $622.4K
NOI $37,346 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$731.7K
$640.2K – $853.6K
NOI $51,218 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 24502, VA
41,058
Population
18,576
Households
2.2
Avg Household Size
36
Median Age
39%
College-Educated
92%
High-School Grad
29.9 sq mi
ZIP Area
1,373
Density / Sq Mi
$66,027
Median Household Income
$35,923
Median Earnings
$1,166
Median Rent
$214,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Office property with finished work areas, a mezzanine, support rooms, and adjacent unfinished space for customization.
Where is this office building located?
The property is located at 117 Northwynd Circle Lynchburg, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,470‑square‑foot office property on a 0.062‑acre lot; Built in 2004; Finished office building with first‑floor offices, kitchen, bathroom, and storage room
