Updated Conventional
For Sale
$899,999
3014 Memorial Ave, Lynchburg, VA 24501
Renovated interior with granite countertops, high-end finishes, and a fully equipped commercial kitchen.
Property Size12,000 SF
Price / SF$74
Days on Market28
Property Features for 3014 Memorial Ave
General Information
Standard status
Active
Size
12,000 SF
Amenities
fully equipped commercial kitchen
Building Details
Year Built
1947
Buildings
1
Listing Agency:
Century 21 Realty @ Home
(434) 390-7204
Listed By:
Lanay Walker · License #0225264367
Source:
Riverfoxrealty
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 31 at 7:17PM
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 Century 21 Realty @ Home
Investment Insights
Based on property information with market context.
This conventional restaurant property at 3014 Memorial Ave in Lynchburg, VA, contains 12,000 square feet and was built in 1947. The interior has been renovated with granite countertops, high-end finishes, new chandeliers, and a fully equipped commercial kitchen. These improvements create a finished setting for restaurant operations without relying on an unfinished shell or basic utility buildout.
An additional lot is located directly behind the building, providing a separate component of the property for consideration alongside the main restaurant facility. The site combines an established commercial building with substantial interior improvements and dedicated kitchen infrastructure at a Lynchburg address.
An additional lot is located directly behind the building, providing a separate component of the property for consideration alongside the main restaurant facility. The site combines an established commercial building with substantial interior improvements and dedicated kitchen infrastructure at a Lynchburg address.
Key Highlights
- 12,000‑square‑foot conventional restaurant property
- Renovated interior with granite countertops and high‑end finishes
- Fully equipped commercial kitchen
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
$60,606
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
6.73%
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%
$1,212,120
$1.2M
Cap Rate 7%
$865,800
$865.8K
Cap Rate 9%
$673,400
$673.4K
Market Conditions
NOI Build-Up for 12,000 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
$93.6K $7.80/SF
− Vacancy
−$7.0K −$0.59/SF
EGI
$86.6K $7.22/SF
− OpEx
−$26.0K −$2.16/SF
NOI
$60.6K $5.05/SF
Area
Lynchburg County, VA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,212,120
Cap Rate 7%
$865,800
Cap Rate 9%
$673,400
Alternative Uses
Best Use
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,006 @ 7.0% cap · market cap 17.33%
Second Best
Industrial
$865.8K
$757.6K – $1.01M
NOI $60,606 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$3.55M
$3.11M – $4.15M
NOI $248,832 @ 7.0% cap · market cap 27.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated interior with granite countertops, high-end finishes, and a fully equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 3014 Memorial Ave Lynchburg, VA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 12,000‑square‑foot conventional restaurant property; Renovated interior with granite countertops and high‑end finishes; Fully equipped commercial kitchen
