Building Details

Year built 1961

Listing Agency: Watts Auction Realty Appraisals Inc Show Phone

Listed By: Charlie A Watts II · License #0225086405 Show Phone

Added: Sep 4, 2025 Changed: Aug 19 Last Checked: Oct 6 at 9:06PM

Report an Issue

MLS# 361674

Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,689-square-foot office building occupies a 0.2723-acre parcel and was constructed in 1961. The property was most recently used for office space, providing an existing commercial layout for continued office use or future repositioning.

Located at 1401 Lakeside Drive in Lynchburg, Virginia, the building sits directly on 221. Its established office history and modest building footprint create a straightforward commercial asset for users seeking a dedicated office property.

Key Highlights

• 1,689‑square‑foot office building
• 0.2723‑acre parcel
• Constructed in 1961

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 (±1% cap)

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 (±1% cap)

NOI $35,023 @ 7.0% cap · market cap 11.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Electrical Service Dental Office Pharmacy Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

741

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Former Veterinary Clinic Building

1705 Memorial Ave, Lynchburg, VA 24501

$329,000

1,876 SF

View details

Landscaped Medical Office Space

18697 Forest Road, Lynchburg, VA 24502

$420,000

2,282 SF

View details

Freestanding Single-Story Office Building

7609 Timberlake Road, Lynchburg, VA 24502

$399,900

1,120 SF

View details

Two-Building Office Property

117 Northwynd Circle, Lynchburg, VA 24502

$550,000

2,470 SF

View details

Victorian Office/Multifamily Property on Rivermont

2525 Rivermont Ave., Lynchburg, VA 24503

$745,000

View details

Multi-Unit Office Building For Sale

2815 Linkhorne Dr, Lynchburg, VA 24503

$775,000

4,225 SF

View details

Mixed-Use Commercial Property

4001 Murray, Lynchburg, VA 24501

$1,200,000

6,215 SF

View details

Redeveloped Three-Story Office Building

5200 Fort Ave, Lynchburg, VA 24502

$995,000

0.59 Acres

View details

Three-Building Office Portfolio

1071 Woodberry Square Pl., Lynchburg, VA 24502

$2,850,000

View details

Multi-Story Office Headquarters

3315 OLD FOREST RD, Lynchburg, VA 24501

Contact for pricing

300,463 SF

View details

Updated Duplex with Basement Storage

2800-2802 Kulman, Lynchburg, VA 24501

$279,900

1,578 SF

View details

Duplex with Off-Street Parking

50-52 Village Road, Lynchburg, VA 24502

$254,900

1,820 SF

View details

Frequently Asked Questions

What type of property is this?

Office building - Compact commercial property with an established office configuration and direct placement along 221.

Where is this office building located?

The property is located at 1401 Lakeside Drive 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: 1,689‑square‑foot office building; 0.2723‑acre parcel; Constructed in 1961