Mixed-Use Fully Leased
2908 Memorial Ave Lynchburg, VA 24501
2908 Memorial Ave, Lynchburg, VA, 24501
$415,000
For Sale
$415,000
Two commercial units and four one-bedroom apartments are fully leased in this mixed-use property.
Property Size3,624 SF
Price / SF$114.51
Days on Market107
Property Features for 2908 Memorial Ave
General Information
- Standard status
- Active
- Size
- 3,624 SF
Listing agency
Lauren Bell Real Estate, Inc.
(434) 384-1010
Listed by
Chris Davies
Source
Exprealty
Added: Apr 7 Updated: Jul 21 at 8:08PM Checked: Jul 21 at 8:08PM
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 Lauren Bell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property is comprised of two commercial units and four one-bedroom apartments, with all units currently leased. The asset totals 3,624 square feet, providing a diversified rental mix across both storefront/commercial and residential spaces.
Located at 2908 Memorial Ave in Lynchburg, Virginia, the property is offered for sale as a fully tenanted investment opportunity. With residential and commercial tenants in place, it is designed to produce rental income from its existing occupancy.
For buyers looking for a ready-to-operate mixed-use hold, this configuration offers straightforward income diversification between the two commercial units and the four separate one-bedroom apartment units.
Located at 2908 Memorial Ave in Lynchburg, Virginia, the property is offered for sale as a fully tenanted investment opportunity. With residential and commercial tenants in place, it is designed to produce rental income from its existing occupancy.
For buyers looking for a ready-to-operate mixed-use hold, this configuration offers straightforward income diversification between the two commercial units and the four separate one-bedroom apartment units.
Key Highlights
- Mixed‑use property with 2 commercial units and 4 one‑bedroom apartments.
- All 6 units are fully leased and generating rental income.
- Provides diversified tenant mix across commercial and residential tenants.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.7k | $16.20 |
| − Vacancy | −$6.4k | −$1.77 |
| EGI | $52.3k | $14.43 |
| − OpEx | −$23.5k | −$6.50 |
| NOI | $28.8k | $7.94 |
3,624 SF · lease $16.20/SF/yr · vacancy 10.90% · expense 45.00%
Alternative Uses
Best Use
Retail
$628.2K
$549.7K – $732.9K
NOI $43,973 @ 7.0% cap · market cap 10.60%
Second Best
Apartment 5plus
$411.0K
$359.6K – $479.5K
NOI $28,770 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.07M
$939.3K – $1.25M
NOI $75,147 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Progressive Cutz Barber ...
Barber Shop
Hughes Insurance
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two commercial units and four one-bedroom apartments are fully leased in this mixed-use property.
Where is this mixed-use property located?
The property is located at 2908 Memorial Ave Lynchburg, VA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Mixed‑use property with 2 commercial units and 4 one‑bedroom apartments.; All 6 units are fully leased and generating rental income.; Provides diversified tenant mix across commercial and residential tenants.
