Retail Building with Expansion
For Sale
$695,000
10925 Richmond Hwy, Lynchburg, VA 24504
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 Market943
Property Features for 10925 Richmond Hwy
General Information
Standard status
Active
Size
3,200 SF
Listing Agency:
Scruggs Real Estate LLC
(434) 315-1630
Listed By:
Jeff McMurry
(434) 547-9440
Source:
Exprealty
Added: Mar 24, 2024
Changed: Oct 16
Last Checked: Oct 21 at 2:38AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$38,828
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,560
$776.6K
Cap Rate 7%
$554,686
$554.7K
Cap Rate 9%
$431,422
$431.4K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$57.6K $18.00/SF
− Vacancy
−$2.1K −$0.67/SF
EGI
$55.5K $17.33/SF
− OpEx
−$16.6K −$5.20/SF
NOI
$38.8K $12.13/SF
Area
Lynchburg County, VA
Vacancy
3.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,560
Cap Rate 7%
$554,686
Cap Rate 9%
$431,422
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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
