Street-Front Office
For Sale
Contact for pricing
1401 Lakeside Dr, Lynchburg, VA 24501
Previously used as office space, this property may be convertible to other business uses.
Property Size1,689 SF
Price / SF$177.56
Days on Market181
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
Listed By:
Charlie Watts · License #0225086405
(434) 821-5263
Source:
Crexi
Added: Apr 27
Changed: Oct 3
Last Checked: Oct 23 at 3:51AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$25,538
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,760
$510.8K
Cap Rate 7%
$364,829
$364.8K
Cap Rate 9%
$283,756
$283.8K
Market Conditions
NOI Build-Up for 1,689 SF
Gross rent
$35.5K $21.00/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$34.1K $20.16/SF
− OpEx
−$8.5K −$5.04/SF
NOI
$25.5K $15.12/SF
Area
Lynchburg County, VA
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,760
Cap Rate 7%
$364,829
Cap Rate 9%
$283,756
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 authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
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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
Frequently Asked Questions
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
