Multi-Unit Office Building For
2815 Linkhorne Dr Lynchburg, VA 24503
For Sale
$775,000
Multi-unit office building on corner lot near shopping and businesses.
Property Size4,225 SF
Price / SF$183.43
Days on Market646
Property Features for 2815 Linkhorne Dr
General Information
Standard status
Active
Size
4,225 SF
Listing Agency:
Coldwell Banker Commercial Read & Company
(434) 455-2285
Listed By:
Ricky Read · License #0226023041
Source:
Exprealty
Added: Oct 22, 2024
Changed: Jul 6
Last Checked: Jul 26 at 11:56PM
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 & Company
Investment Insights
Based on property information with market context.
This multi-unit office building is situated on a signalized corner lot, offering entrances on both Old Forest Road and Linkhorne Drive. The property presents the potential for three individual office units or for owner-occupancy with tenants. A new roof was installed in 2012, and the cupola was replaced in 2023. The building is located across from Forest Hill Shopping Center and is near various medical and retail businesses.
Key Highlights
- Multi‑Unit Office Building offering flexibility for investors or owner‑occupiers, with potential for 3 individual units.
- Located on a highly visible signalized corner lot with entrances on Old Forest Road and Linkhorne Drive.
- Prime location across from Forest Hill Shopping Center and near medical and retail businesses.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.7k | $21.00 |
| − Vacancy | −$3.5k | −$0.84 |
| EGI | $85.2k | $20.16 |
| − OpEx | −$21.3k | −$5.04 |
| NOI | $63.9k | $15.12 |
4,225 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$912.6K
$798.5K – $1.06M
NOI $63,882 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,610 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-unit office building on corner lot near shopping and businesses.
Where is this office building located?
The property is located at 2815 Linkhorne Dr Lynchburg, VA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Multi‑Unit Office Building offering flexibility for investors or owner‑occupiers, with potential for 3 individual units.; Located on a highly visible signalized corner lot with entrances on Old Forest Road and Linkhorne Drive.; Prime location across from Forest Hill Shopping Center and near medical and retail businesses.
