Multifamily
For Sale
$279,000
Pending
245 Deer Creek Drive, Lynchburg, VA 24502
Established multifamily property constructed in 1981.
Property Size1,664 SF
Days on Market63
Property Features for 245 Deer Creek Drive
General Information
Standard status
Pending
Size
1,664 SF
Property subtype
Multi-Family
Building Details
Year Built
1981
Listing Agency:
Keller Williams
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Aug 20
Changed: Oct 16
Last Checked: Oct 20 at 8:52PM
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 245 Deer Creek Drive in Lynchburg, Virginia. The building was constructed in 1981 and is identified as a multifamily asset for sale. The property information also lists an overall property size of 1,664, without specifying the unit of measurement.
Key Highlights
- Multifamily property offered for sale
- Constructed in 1981
- Located at 245 Deer Creek Drive, Lynchburg, VA 24502
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,210
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,200
$264.2K
Cap Rate 7%
$188,714
$188.7K
Cap Rate 9%
$146,778
$146.8K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$27.0K $16.20/SF
− Vacancy
−$2.9K −$1.77/SF
EGI
$24.0K $14.43/SF
− OpEx
−$10.8K −$6.50/SF
NOI
$13.2K $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%
$264,200
Cap Rate 7%
$188,714
Cap Rate 9%
$146,778
Alternative Uses
Best Use
Apartment 5plus
$188.7K
$165.1K – $220.2K
NOI $13,210 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
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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
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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 - Established multifamily property constructed in 1981.
Where is this multifamily property located?
The property is located at 245 Deer Creek Drive Lynchburg, VA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Multifamily property offered for sale; Constructed in 1981; Located at 245 Deer Creek Drive, Lynchburg, VA 24502
