Building Details

Building Size 12,100 SF

Buildings 1

Construction steel-frame, split-faced block

Tenancy Multi

Listing Agency: Coldwell Banker Commercial Read & Co.

Listed By: Ricky Read · License #0226023041 Show Phone

Source: Cbcworldwide

Added: Oct 9 Changed: Oct 10 Last Checked: Oct 10 at 2:20AM

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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 & Co.

Investment Insights

Based on property information with market context.

This flex property in Lynchburg has a steel-frame structure with split-faced block exterior walls. Its layout includes a tire-store showroom, two offices, a primary service shop, a smaller shop and two retail suites measuring approximately 1,200 SF and 1,800 SF. Paved parking sits at the front, with a gravel yard behind the building.

The property has two entrances from Forest Road (Rt. 221). C-2 zoning supports its existing mix of automotive, service and retail space.

Key Highlights

• Two retail suites measure 1,200 SF and 1,800 SF +/-
• Two entrances from Forest Road (Rt. 221)
• Layout includes showroom, two offices, main service shop and smaller shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$146,819

Cap Rate

7.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,936,380 $2.9M

Cap Rate 7%

$2,097,414 $2.1M

Cap Rate 9%

$1,631,322 $1.6M

Market Conditions

NOI Build-Up for 12,100 SF

Gross rent

$217.8K $18.00/SF

− Vacancy

−$8.1K −$0.67/SF

EGI

$209.7K $17.33/SF

− OpEx

−$62.9K −$5.20/SF

NOI

$146.8K $12.13/SF

Area

Lynchburg County, VA

Vacancy

3.70%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,936,380

Cap Rate 7%

$2,097,414

Cap Rate 9%

$1,631,322

Alternative Uses

Best Use

Retail

$2.10M

$1.84M – $2.45M (±1% cap)

NOI $146,819 @ 7.0% cap · market cap 7.38%

Second Best

Flex RnD

$1.01M

$887.2K – $1.18M (±1% cap)

NOI $70,974 @ 7.0% cap · market cap 3.57%

Theoretical Best

Office A

$3.58M

$3.14M – $4.18M (±1% cap)

NOI $250,906 @ 7.0% cap · market cap 12.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Kerr Tire & Automotive (Bike/Boat/Book/etc) Store 5 Star Car ... Loan Service

Suggested Use

Top Pick Big Box & Wholesale Store Parking Lot & Garage Building Supply Electrical Service HVAC Service Dental Office

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

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

614

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Flex space - C-2-zoned space combines automotive service areas, offices and separate retail suites.

Where is this flex space located?

The property is located at 18537 Forest Road Lynchburg, VA.

What is the asking price?

The asking price for this property is $1,990,000.

What are key features of this property?

This property features: Two retail suites measure 1,200 SF and 1,800 SF +/-; Two entrances from Forest Road (Rt. 221); Layout includes showroom, two offices, main service shop and smaller shop