Expanded Self-Storage
For Sale
Contact for pricing
2140 LAKESIDE DR, Lynchburg, VA 24501
Climate-controlled storage property with recently added space.
Property Size23,588 SF
Lot Size1.47 Acres
Price / SF$80.55
Days on Market76
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
Listed By:
Bruce Lynch · License #0226038789
Source:
Crexi
Added: Aug 5
Changed: Oct 15
Last Checked: Oct 19 at 6:36AM
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 Bruce Lynch
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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 / Yr
$144,659
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
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
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 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 12.38%
Second Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,659 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$6.99M
$6.11M – $8.15M
NOI $489,121 @ 7.0% cap · market cap 25.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
205
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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 $1,900,000.
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
