Street-Front Office
1401 Lakeside Dr Lynchburg, VA 24501
For Sale
Contact for pricing
Previously used as office space, this property may be convertible to other business uses.
Property Size1,689 SF
Price / SF$177.56
Days on Market90
Property Features for 1401 Lakeside Dr
General Information
- Standard status
- Active
- Size
- 1,689 SF
- Property subtype
- Office
Building Details
- Year Built
- 1961
Listing Agency:
Watts Auction Realty Appraisals
(434) 942-0840
Listed By:
Charlie Watts · License #0225086405
Source:
Crexi
Added: Apr 27
Changed: Jul 23
Last Checked: Jul 24 at 2:02PM
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 Watts Auction Realty Appraisals
Investment Insights
Based on property information with market context.
This street-front commercial building was last used as an office space. The property is offered for sale and could potentially be converted to another business use based on the existing configuration.
The building is located at 1401 Lakeside Dr in Lynchburg, Virginia, and is described as being right on 221, providing straightforward access for office or other adapted business operations.
For buyers and tenants looking at flexible space, the current office use and conversion possibility make it a practical option for considering a range of business layouts within the existing property footprint.
The building is located at 1401 Lakeside Dr in Lynchburg, Virginia, and is described as being right on 221, providing straightforward access for office or other adapted business operations.
For buyers and tenants looking at flexible space, the current office use and conversion possibility make it a practical option for considering a range of business layouts within the existing property footprint.
Key Highlights
- Year built 1961
- Previously used as office space
- Located right on 221
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 | $35.5k | $21.00 |
| − Vacancy | −$1.4k | −$0.84 |
| EGI | $34.1k | $20.16 |
| − OpEx | −$8.5k | −$5.04 |
| NOI | $25.5k | $15.12 |
1,689 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$364.8K
$319.2K – $425.6K
NOI $25,538 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.3K
$437.8K – $583.7K
NOI $35,023 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Previously used as office space, this property may be convertible to other business uses.
Where is this office building located?
The property is located at 1401 Lakeside Dr Lynchburg, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Year built 1961; Previously used as office space; Located right on 221
