Multifamily Property Near Park
For Sale
$179,900
2210 Park Place, Lynchburg, VA 24501
Multifamily asset with an established construction date and a Lynchburg location.
Property Size1,980 SF
Price / SF$90.86
Days on Market74
Property Features for 2210 Park Place
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-Family
Building Details
Year Built
1940
Listing Agency:
Keller Williams
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Aug 8
Changed: Oct 16
Last Checked: Oct 19 at 7:23AM
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 Keller Williams
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Investment Insights
Based on property information with market context.
This multifamily property is located at 2210 Park Place in Lynchburg, Virginia. The asset was built in 1940 and carries a listed property size of 1980.
The property is identified within the multifamily property classification and is offered for sale. Its address places the asset in Lynchburg, VA 24501.
The property is identified within the multifamily property classification and is offered for sale. Its address places the asset in Lynchburg, VA 24501.
Key Highlights
- Multifamily property at 2210 Park Place, Lynchburg, VA 24501
- Built in 1940
- Listed property size of 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,719
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,380
$314.4K
Cap Rate 7%
$224,557
$224.6K
Cap Rate 9%
$174,656
$174.7K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$32.1K $16.20/SF
− Vacancy
−$3.5K −$1.77/SF
EGI
$28.6K $14.43/SF
− OpEx
−$12.9K −$6.50/SF
NOI
$15.7K $7.94/SF
Area
Lynchburg County, VA
Vacancy
10.90%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,380
Cap Rate 7%
$224,557
Cap Rate 9%
$174,656
Alternative Uses
Best Use
Apartment 5plus
$224.6K
$196.5K – $262.0K
NOI $15,719 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.5K
$513.2K – $684.3K
NOI $41,057 @ 7.0% cap · market cap 22.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,231
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with an established construction date and a Lynchburg location.
Where is this multifamily property located?
The property is located at 2210 Park Place Lynchburg, VA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Multifamily property at 2210 Park Place, Lynchburg, VA 24501; Built in 1940; Listed property size of 1980
