Renovated Commercial Building with
For Sale
$449,000
1128 Blue Buckle Aly, Lynchburg, VA 24501
Versatile commercial building with renovated main building and separate warehouse.
Property Size5,832 SF
Lot Size1.00 Acre
Price / SF$76.99
Days on Market565
Property Features for 1128 Blue Buckle Aly
General Information
Standard status
Active
Size
5,832 SF
Lot size
1.00 Acre
Listing Agency:
Gentry Commercial Real Estate Inc
(434) 485-8900
Listed By:
Chris Gentry · License #0225033997
Source:
Exprealty
Added: Apr 11, 2025
Changed: Oct 25
Last Checked: Oct 26 at 8:24PM
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 Gentry Commercial Real Estate Inc
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Investment Insights
Based on property information with market context.
This commercial building, suitable for a variety of uses, features a 4,632 square foot main building constructed in 1986 and renovated in 2020. Renovations include a new membrane roof, new windows, new 400A/3ph power, two new HVAC units, a new water heater, new lighting, new bathrooms (one with a shower), new flooring, and new kitchen/breakroom cabinetry. Additionally, there is a separate 1,200 square foot warehouse/storage building constructed in 2022. The main building is fully heated and cooled, offering approximately 2560 square feet of open shop/work space with a 10-foot overhead drive-in door, along with approximately 1280 square feet of finished space on the main level and an additional approximately 820 square feet of finished mezzanine space. The property is zoned B-5, General Business, which is the highest business classification. The property consists of four separate parcels: 1128 Blue Buckle Alley, 1905 12th Street, 1907 12th Street, and 1913 12th Street.
Key Highlights
- Renovated main building (2020) with significant upgrades including a new roof, windows, electrical, HVAC, water heater, lighting, bathrooms, flooring, and kitchen/breakroom.
- Separate 1,200sf warehouse/storage building constructed in 2022.
- Zoned B‑5, General Business, the highest business classification.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,766
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,320
$715.3K
Cap Rate 7%
$510,943
$510.9K
Cap Rate 9%
$397,400
$397.4K
Market Conditions
NOI Build-Up for 5,832 SF
Gross rent
$45.5K $7.80/SF
− Vacancy
−$3.4K −$0.59/SF
EGI
$42.1K $7.22/SF
− OpEx
−$6.3K −$1.08/SF
NOI
$35.8K $6.13/SF
Area
Lynchburg County, VA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,320
Cap Rate 7%
$510,943
Cap Rate 9%
$397,400
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,180 @ 7.0% cap · market cap 19.64%
Second Best
Retail
$1.01M
$884.6K – $1.18M
NOI $70,764 @ 7.0% cap · market cap 15.76%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,932 @ 7.0% cap · market cap 26.93%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 24501, VA
27,160
Population
12,157
Households
2.2
Avg Household Size
33
Median Age
25%
College-Educated
87%
High-School Grad
36.3 sq mi
ZIP Area
748
Density / Sq Mi
$45,305
Median Household Income
$28,790
Median Earnings
$936
Median Rent
$155,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Blondie's Catering — 2420 12th St, Lynchburg, VA 24501
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with renovated main building and separate warehouse.
Where is this flex space located?
The property is located at 1128 Blue Buckle Aly Lynchburg, VA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Renovated main building (2020) with significant upgrades including a new roof, windows, electrical, HVAC, water heater, lighting, bathrooms, flooring, and kitchen/breakroom.; Separate 1,200sf warehouse/storage building constructed in 2022.; Zoned B‑5, General Business, the highest business classification.
