Self-Storage Facility with Climate
1605 Waterlick Road, Lynchburg, VA 24502
For Sale
New
$5,470,000
Pending
The property combines drive-up and climate-controlled storage with vehicle and recreational equipment parking.
Property Size25,700 SF
Lot Size13.37 Acres
Days on Market4
Property Features for 1605 Waterlick Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Fenced Yard
Additional Details
Asking Price
Self-Storage Units
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Concrete
60+ Gallon Tank,Electric
Yes
1472
Electric
No
2
50550
8' to 10'
Backs to Trees,Road Frontage
Well
I-G
Negotiable
Parking Lot
Fenced,Private,Security/Monitored
Black Top,Gravel,Paved
49
Concrete Perimeter
25700.00
545100.00
79
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Lynchburgs Finest Team LLC
(434) 439-4211
Listed By:
Yvonne Renee Jansen
Source:
Opuselitenj
Added: Nov 6
Changed: Nov 9
Last Checked: Nov 9 at 4:11PM
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 Lynchburgs Finest Team LLC
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Investment Insights
Based on property information with market context.
This self-storage and industrial property spans three parcels totaling 13.368 acres and contains 19 storage buildings, a separate office, and an apartment above the office that operates as a short-term rental. Its inventory includes 195 standard drive-up units and 135 climate-controlled units. A fenced, monitored compound accommodates vehicle, RV, boat, and semi storage, with 79 parking spaces noted across three parking lots.
An additional cleared 8.520-acre parcel with land improvements and a stormwater pond is identified for expansion. The property fronts US 460, with access to Routes 29 and 501; Wards Road and Liberty University are approximately seven minutes away. The Wards Road commercial corridor and River Ridge Mall are also nearby.
An additional cleared 8.520-acre parcel with land improvements and a stormwater pond is identified for expansion. The property fronts US 460, with access to Routes 29 and 501; Wards Road and Liberty University are approximately seven minutes away. The Wards Road commercial corridor and River Ridge Mall are also nearby.
Key Highlights
- 195 standard drive‑up units and 135 climate‑controlled units
- 19 storage buildings, a separate office, and an apartment above the office
- Three‑parcel property totaling 13.368 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$256,357
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,127,140
$5.1M
Cap Rate 7%
$3,662,243
$3.7M
Cap Rate 9%
$2,848,411
$2.8M
Market Conditions
NOI Build-Up for 25,700 SF
Gross rent
$385.5K $15.00/SF
− Vacancy
−$19.3K −$0.75/SF
EGI
$366.2K $14.25/SF
− OpEx
−$109.9K −$4.27/SF
NOI
$256.4K $9.98/SF
Area
Lynchburg County, VA
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,127,140
Cap Rate 7%
$3,662,243
Cap Rate 9%
$2,848,411
Alternative Uses
Best Use
Self Storage
$3.66M
$3.20M – $4.27M
NOI $256,357 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$2.91M
$2.55M – $3.40M
NOI $204,027 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$7.61M
$6.66M – $8.88M
NOI $532,915 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 24502, VA
41,058
Population
18,576
Households
2.2
Avg Household Size
36
Median Age
39%
College-Educated
92%
High-School Grad
29.9 sq mi
ZIP Area
1,373
Density / Sq Mi
$66,027
Median Household Income
$35,923
Median Earnings
$1,166
Median Rent
$214,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - The property combines drive-up and climate-controlled storage with vehicle and recreational equipment parking.
Where is this self storage facility located?
The property is located at 1605 Waterlick Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $5,470,000.
What are key features of this property?
This property features: 195 standard drive‑up units and 135 climate‑controlled units; 19 storage buildings, a separate office, and an apartment above the office; Three‑parcel property totaling 13.368 acres
