Landscaped Medical Office
For Sale
$420,000
18697 Forest Road, Lynchburg, VA 24502
Commercial/Indust, Lynchburg, VA
Property Size2,282 SF
Lot Size1.47 Acres
Price / SF$184.05
Days on Market140
Property Features for 18697 Forest Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Long driveway on Forest Rd between CVS and Subway
Subdivision
Bedford
Standard status
Active
APN
10120400
Size
2,282 SF
Lot size
1.47 Acres
Taxes and HOA fees
Tax Description
LT 1
Legal Description
LT 1
Building Details
Year built
1932
Listing Agency:
Mark A. Dalton & Co., Inc.
(434) 841-8405
Listed By:
David Evans · License #0225268176
(434) 237-6267
Added: Apr 28
Changed: Sep 13
Last Checked: Sep 14 at 6:06PM
MLS# 366174
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.
Located at 18697 Forest Road, this medical office property includes 2,282 square feet on a 1.47-acre parcel. Built in 1932, the building has served as the home of a counseling business for nearly 30 years, providing an established setting for professional services. The property is positioned behind the CVS on Forest Road, offering private placement while remaining near major amenities in the corridor.
Professionally landscaped grounds create a park-like environment around the building and support a client-facing office setting. The existing use and property classification align with medical office, therapeutic, counseling, and other professional office applications described for the site.
Professionally landscaped grounds create a park-like environment around the building and support a client-facing office setting. The existing use and property classification align with medical office, therapeutic, counseling, and other professional office applications described for the site.
Key Highlights
- 2,282‑square‑foot medical office property on 1.47 acres
- Built in 1932 and used by a counseling business for nearly 30 years
- Professionally landscaped grounds with a park‑like setting
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
$34,504
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
8.22%
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%
$690,080
$690.1K
Cap Rate 7%
$492,914
$492.9K
Cap Rate 9%
$383,378
$383.4K
Market Conditions
NOI Build-Up for 2,282 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
$47.9K $21.00/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$46.0K $20.16/SF
− OpEx
−$11.5K −$5.04/SF
NOI
$34.5K $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 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%
$690,080
Cap Rate 7%
$492,914
Cap Rate 9%
$383,378
Alternative Uses
Best Use
Office B
$492.9K
$431.3K – $575.1K
NOI $34,504 @ 7.0% cap · market cap 8.22%
Second Best
Healthcare Medical
$405.6K
$354.9K – $473.2K
NOI $28,392 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$676.0K
$591.5K – $788.7K
NOI $47,320 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professionally landscaped grounds provide a quiet, private setting for office operations.
Where is this medical office space located?
The property is located at 18697 Forest Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,282‑square‑foot medical office property on 1.47 acres; Built in 1932 and used by a counseling business for nearly 30 years; Professionally landscaped grounds with a park‑like setting
