Retail Building with
For Sale
$1,695,000
Pending
3100 Old Forest Rd, Lynchburg, VA 24501
Corner retail building with drive-thru configuration, paved parking, and public water and sewer.
Property Size10,113 SF
Lot Size1.11 Acres
Days on Market1015
Property Features for 3100 Old Forest Rd
General Information
Standard status
Pending
Size
10,113 SF
Total Parking Spaces
53
Lot size
1.11 Acres
Site & Location
Traffic Count
21,000 vehicles/day
Utilities to Site
Yes
Amenities
drive-thru
pylon sign
Listing Agency:
Gentry Commercial Real Estate Inc
(434) 485-8900
Listed By:
Chris Gentry · License #0225033997
Source:
Exprealty
Added: Jan 10, 2024
Changed: Oct 9
Last Checked: Oct 20 at 11:10PM
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 Gentry Commercial Real Estate Inc
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Investment Insights
Based on property information with market context.
This +/- 10,113 SF retail building sits on a +/- 1.106-acre site and was originally built as a pharmacy with a drive-thru. The existing layout includes a drive-thru configuration and 53 paved parking spaces. A large pylon sign supports retail and service visibility, and the building is served by public water and sewer.
The property is located on a corner at a signalized intersection, providing strong access and visibility. Public remarks indicate traffic count of over 21,000 VPD.
While the building was built for pharmacy use, the structure can be repurposed for other retail, multitenant, and medical uses, or the site can be redeveloped for other uses.
The property is located on a corner at a signalized intersection, providing strong access and visibility. Public remarks indicate traffic count of over 21,000 VPD.
While the building was built for pharmacy use, the structure can be repurposed for other retail, multitenant, and medical uses, or the site can be redeveloped for other uses.
Key Highlights
- ±10,113 SF corner retail building on ±1.106‑acre site at a signalized intersection
- Built in 1998 and originally designed as a pharmacy with drive‑thru configuration
- 53 paved parking spaces, including a drive‑thru parking layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,709
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,454,180
$2.5M
Cap Rate 7%
$1,752,986
$1.8M
Cap Rate 9%
$1,363,433
$1.4M
Market Conditions
NOI Build-Up for 10,113 SF
Gross rent
$182.0K $18.00/SF
− Vacancy
−$6.7K −$0.67/SF
EGI
$175.3K $17.33/SF
− OpEx
−$52.6K −$5.20/SF
NOI
$122.7K $12.13/SF
Area
Lynchburg County, VA
Vacancy
3.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,454,180
Cap Rate 7%
$1,752,986
Cap Rate 9%
$1,363,433
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.05M
NOI $122,709 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.00M
$2.62M – $3.50M
NOI $209,703 @ 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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Open Analytics
Current Use
Lease Details
21,000 VPD
Traffic count
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
385
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Corner retail building with drive-thru configuration, paved parking, and public water and sewer.
Where is this retail space located?
The property is located at 3100 Old Forest Rd Lynchburg, VA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: ±10,113 SF corner retail building on ±1.106‑acre site at a signalized intersection; Built in 1998 and originally designed as a pharmacy with drive‑thru configuration; 53 paved parking spaces, including a drive‑thru parking layout
