Retail Building with Expansion
10925 Richmond Hwy Lynchburg, VA 24504
For Sale
$695,000
Previously used as a church; over 3,190 SF of retail space and inventory valued over $100,000 conveys.
Property Size3,200 SF
Price / SF$217.19
Days on Market853
Property Features for 10925 Richmond Hwy
General Information
- Standard status
- Active
- Size
- 3,200 SF
Listing Agency:
Scruggs Real Estate LLC
(434) 547-9440
Listed By:
Jeff McMurry
(434) 547-9440
Source:
Exprealty
Added: Mar 24, 2024
Changed: Jul 23
Last Checked: Jul 23 at 3:13AM
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 Scruggs Real Estate LLC
Investment Insights
Based on property information with market context.
The main building offers over 3,190 square feet of retail space. It was most recently used as a church, and prior to that served as a shop for making cement items for landscaping.
The sale includes an owner inventory of items for online sales valued at over $100,000. The property also provides room to build a storage facility, which would generate additional income.
Located at 10925 Richmond Hwy, Lynchburg, VA, this property offers a flexible footprint that can support retail use and accommodates the potential for added storage development.
The sale includes an owner inventory of items for online sales valued at over $100,000. The property also provides room to build a storage facility, which would generate additional income.
Located at 10925 Richmond Hwy, Lynchburg, VA, this property offers a flexible footprint that can support retail use and accommodates the potential for added storage development.
Key Highlights
- Main building offers over 3,190 SF of retail space
- Previously used as a church
- Inventory of items for online sales valued at over $100,000 will convey
Financial Insights For Retail
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 | $57.6k | $18.00 |
| − Vacancy | −$2.1k | −$0.67 |
| EGI | $55.5k | $17.33 |
| − OpEx | −$16.6k | −$5.20 |
| NOI | $38.8k | $12.13 |
3,200 SF · lease $18.00/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$554.7K
$485.4K – $647.1K
NOI $38,828 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$947.9K
$829.4K – $1.11M
NOI $66,355 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
HARVEST MINISTRIES BAPTIST ...
Church
Harvest International Missions
Association / Organization
FAQs
What type of property is this?
Retail space - Previously used as a church; over 3,190 SF of retail space and inventory valued over $100,000 conveys.
Where is this retail space located?
The property is located at 10925 Richmond Hwy Lynchburg, VA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Main building offers over 3,190 SF of retail space; Previously used as a church; Inventory of items for online sales valued at over $100,000 will convey
