Medical Office Space with Pole
For Sale
$275,000
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
Price / SF$73.77
Days on Market51
Property Features for 1816 Memorial Ave
General Information
Standard status
Active
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
Source:
Exprealty
Added: Jun 22
Changed: Aug 10
Last Checked: Aug 10 at 9:11AM
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,863
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,260
$457.3K
Cap Rate 7%
$326,614
$326.6K
Cap Rate 9%
$254,033
$254.0K
Market Conditions
NOI Build-Up for 3,728 SF
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.
Gross rent
$29.1K $7.80/SF
− Vacancy
−$2.2K −$0.59/SF
EGI
$26.9K $7.22/SF
− OpEx
−$4.0K −$1.08/SF
NOI
$22.9K $6.13/SF
Area
Lynchburg County, VA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,260
Cap Rate 7%
$326,614
Cap Rate 9%
$254,033
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
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,422
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Animal Hospital of Lynchburg — 1705 Memorial Ave, Lynchburg, VA 24501
- Dr. Rick Krason — 1705 Memorial Ave, Lynchburg, VA 24501
- Blue Ridge Animal League — 300 Oakley 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
