Flex Space with
For Sale
$369,000
1214 Rivermont Ave, Lynchburg, VA 24504
Commercial property combines office areas, work space, storage, and rear parking within Lynchburg’s Rivermont historic district.
Property Size2,200 SF
Price / SF$167.73
Days on Market324
Property Features for 1214 Rivermont Ave
General Information
Standard status
Active
Size
2,200 SF
Zoning
B-3
Amenities
shower area
break area
Listing Agency:
Long & Foster-Forest
8
Listed By:
Mike Osei Jr.
8
Source:
Exprealty
Added: Oct 13, 2025
Changed: Aug 30
Last Checked: Aug 31 at 6:38PM
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 Long & Foster-Forest
Investment Insights
Based on property information with market context.
This 2,200-square-foot flex property provides a blend of office and operational space. The interior includes a lobby, multiple office areas, two restrooms, a shower area, and a break area, along with substantial open space suited for storage or work functions. A large garage adds covered operational capacity.
Paved parking is available behind the building, with room for several vehicles. The property is zoned B-3 and sits at 1214 Rivermont Ave in Lynchburg’s Rivermont historic district. Restaurants, churches, schools, and hospitals are identified in the surrounding area, while downtown and the Rivermont area are undergoing revitalization.
Paved parking is available behind the building, with room for several vehicles. The property is zoned B-3 and sits at 1214 Rivermont Ave in Lynchburg’s Rivermont historic district. Restaurants, churches, schools, and hospitals are identified in the surrounding area, while downtown and the Rivermont area are undergoing revitalization.
Key Highlights
- 2,200 SF flex property in Lynchburg’s Rivermont historic district
- B‑3 zoning
- Large garage and open storage or work area
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
$33,264
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
9.01%
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%
$665,280
$665.3K
Cap Rate 7%
$475,200
$475.2K
Cap Rate 9%
$369,600
$369.6K
Market Conditions
NOI Build-Up for 2,200 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
$46.2K $21.00/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$44.4K $20.16/SF
− OpEx
−$11.1K −$5.04/SF
NOI
$33.3K $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%
$665,280
Cap Rate 7%
$475,200
Cap Rate 9%
$369,600
Alternative Uses
Best Use
Office B
$475.2K
$415.8K – $554.4K
NOI $33,264 @ 7.0% cap · market cap 9.01%
Second Best
Retail
$381.3K
$333.7K – $444.9K
NOI $26,694 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,619 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Avenue Foods Inc — 2223 Bedford Ave, Lynchburg, VA 24503
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines office areas, work space, storage, and rear parking within Lynchburg’s Rivermont historic district.
Where is this flex space located?
The property is located at 1214 Rivermont Ave Lynchburg, VA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2,200 SF flex property in Lynchburg’s Rivermont historic district; B‑3 zoning; Large garage and open storage or work area
