Expanded Self-Storage
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For Sale
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2140 LAKESIDE DR, Lynchburg, VA 24501
Climate-controlled storage property with recently added space.
Property Size23,588 SF
Lot Size1.47 Acres
Price / SF$84.79
Days on Market7
Property Features for 2140 LAKESIDE DR
General Information
Standard status
Active
Size
23,588 SF
Lot size
1.47 Acres
Property subtype
Industrial, Self Storage
Occupancy
83%
Net Operating Income
$134,783
Additional Details
Asking Price
$2,000,000
Self-Storage Units
207
Building Details
Year Built
1988
Year Renovated
2024
Stories
1
Units
207
Listing Agency:
SOUTHEAST SELF STORAGE BROKERS, LLC
Listed By:
Bruce Lynch · License #0226038789
Source:
Crexi
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 10 at 8:31AM
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 SOUTHEAST SELF STORAGE BROKERS, LLC
Investment Insights
Based on property information with market context.
This self-storage facility at 2140 Lakeside Dr in Lynchburg, Virginia, contains 23,588 SF across 207 units on approximately 1.47 acres. The property includes 3,750 SF of climate-controlled storage and was originally built in 1988. An expansion completed in 2024 added substantial newer improvements, with approximately 60% of the facility constructed within the last two years.
The property is located 3.5 miles from downtown Lynchburg. The surrounding five-mile area has a population of 97,515, with estimated storage saturation of 6.34 SF per person. The facility combines established storage operations with a recently expanded configuration and climate-controlled capacity.
The property is located 3.5 miles from downtown Lynchburg. The surrounding five-mile area has a population of 97,515, with estimated storage saturation of 6.34 SF per person. The facility combines established storage operations with a recently expanded configuration and climate-controlled capacity.
Key Highlights
- 23,588 SF self‑storage facility on approximately 1.47 acres
- 207 storage units, including 3,750 SF of climate‑controlled space
- Expansion completed in 2024; approximately 60% built within the last two years
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
$144,659
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
7.23%
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%
$2,893,180
$2.9M
Cap Rate 7%
$2,066,557
$2.1M
Cap Rate 9%
$1,607,322
$1.6M
Market Conditions
NOI Build-Up for 23,588 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
$184.0K $7.80/SF
− Vacancy
−$13.8K −$0.59/SF
EGI
$170.2K $7.22/SF
− OpEx
−$25.5K −$1.08/SF
NOI
$144.7K $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%
$2,893,180
Cap Rate 7%
$2,066,557
Cap Rate 9%
$1,607,322
Alternative Uses
Best Use
Self Storage
$3.36M
$2.94M – $3.92M
NOI $235,290 @ 7.0% cap · market cap 11.76%
Second Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,659 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$6.99M
$6.11M – $8.15M
NOI $489,121 @ 7.0% cap · market cap 24.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Climate-controlled storage property with recently added space.
Where is this self storage facility located?
The property is located at 2140 LAKESIDE DR Lynchburg, VA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 23,588 SF self‑storage facility on approximately 1.47 acres; 207 storage units, including 3,750 SF of climate‑controlled space; Expansion completed in 2024; approximately 60% built within the last two years
