Medical Office Space with Pole
For Sale
$275,000
Pending
1816 Memorial Ave, Lynchburg, VA 24501
Existing improvements include multiple offices, durable block construction, updated lighting, and paved on-site parking.
Property Size3,728 SF
Days on Market107
Property Features for 1816 Memorial Ave
General Information
Standard status
Pending
Size
3,728 SF
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
acoustic ceilings
pole barn area
Building Details
Construction
block
Listing Agency:
Coldwell Banker Commercial Read & Company
(434) 455-2285
Listed By:
Ricky Read · License #0226023041
(434) 841-3659
Source:
Exprealty
Added: Jun 22
Changed: Oct 6
Last Checked: Oct 5 at 7:05PM
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 Coldwell Banker Commercial Read & Company
Investment Insights
Based on property information with market context.
This 3,728-square-foot medical office property features a layout with multiple offices, acoustic ceilings, and block-wall construction. The building has a metal roof, (2) heat pumps, and a combination of LED and fluorescent lighting. A large pole barn area behind the building is enclosed by fencing and provides additional covered space. The paved parking area includes 15+ parking spaces.
Located at 1816 Memorial Ave in Lynchburg, VA, the property is situated in a commercial setting with zoning that permits a variety of uses. The existing configuration and rear improvement support office operations along with storage or shop-related functions.
Located at 1816 Memorial Ave in Lynchburg, VA, the property is situated in a commercial setting with zoning that permits a variety of uses. The existing configuration and rear improvement support office operations along with storage or shop-related functions.
Key Highlights
- 3,728 SF former veterinary office at 1816 Memorial Ave, Lynchburg, VA
- Multiple offices with acoustic ceilings and block‑wall construction
- Metal roof with (2) heat pumps
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,867
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,340
$437.3K
Cap Rate 7%
$312,386
$312.4K
Cap Rate 9%
$242,967
$243.0K
Market Conditions
NOI Build-Up for 3,728 SF
Gross rent
$35.8K $9.60/SF
− Vacancy
−$2.1K −$0.58/SF
EGI
$33.6K $9.02/SF
− OpEx
−$11.8K −$3.16/SF
NOI
$21.9K $5.87/SF
Area
Lynchburg County, VA
Vacancy
6.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,340
Cap Rate 7%
$312,386
Cap Rate 9%
$242,967
Alternative Uses
Best Use
Office B
$805.2K
$704.6K – $939.5K
NOI $56,367 @ 7.0% cap · market cap 20.50%
Second Best
Healthcare Medical
$662.6K
$579.8K – $773.0K
NOI $46,382 @ 7.0% cap · market cap 16.87%
Theoretical Best
Office A
$1.10M
$966.3K – $1.29M
NOI $77,304 @ 7.0% cap · market cap 28.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Balanced
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Blue Ridge Animal League — 300 Oakley Ave, Lynchburg, VA 24501
- Animal Hospital of Lynchburg — 1705 Memorial Ave, Lynchburg, VA 24501
- Dr. Rick Krason — 1705 Memorial Ave, Lynchburg, VA 24501
- Addison Animal Hospital — 1818 Memorial Ave, Lynchburg, VA 24501
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing improvements include multiple offices, durable block construction, updated lighting, and paved on-site parking.
Where is this medical office space located?
The property is located at 1816 Memorial Ave Lynchburg, VA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,728 SF former veterinary office at 1816 Memorial Ave, Lynchburg, VA; Multiple offices with acoustic ceilings and block‑wall construction; Metal roof with (2) heat pumps
