Net Leased Auto Parts
For Sale
Contact for pricing
3112 Old Forest Road, Lynchburg, VA 24501
Single-tenant net lease with O’Reilly Auto Parts under a new 10-year term along Old Forest Road.
Property Size11,541 SF
Price / SF$151.87
Days on Market91
Property Features for 3112 Old Forest Road
General Information
Standard status
Active
Size
11,541 SF
Property subtype
Retail
Zoning
B-3
Lease Type
NNN
Building Details
Year Built
1970
Units
1
Tenancy
Single
Listing Agency:
Kin Properties Inc
(561) 620-9200
Listed By:
Beth Calay · License #FL
Source:
Crexi
Added: May 28
Changed: Aug 9
Last Checked: Aug 25 at 1:52PM
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 Kin Properties Inc
Investment Insights
Based on property information with market context.
The property is a single-tenant net leased retail asset occupied by O’Reilly Auto Parts. It is offered for sale with a new 10-year lease term in place, creating a straightforward tenant-backed structure for an investor seeking an operating asset rather than a redevelopment scenario.
The site is positioned along the Old Forest Road corridor, which is described as highly trafficked in the property remarks. This visibility and access profile supports retail use in an automotive-oriented environment.
For prospective buyers, the primary consideration is the existing occupancy by O’Reilly Auto Parts and the newly established 10-year term. The net lease structure aligns with investors who prefer income-focused ownership and a single-tenant operational model. The asset’s retail configuration and current automotive tenancy make it especially relevant for buyers evaluating current-tenant stability and long-duration lease coverage.
The site is positioned along the Old Forest Road corridor, which is described as highly trafficked in the property remarks. This visibility and access profile supports retail use in an automotive-oriented environment.
For prospective buyers, the primary consideration is the existing occupancy by O’Reilly Auto Parts and the newly established 10-year term. The net lease structure aligns with investors who prefer income-focused ownership and a single-tenant operational model. The asset’s retail configuration and current automotive tenancy make it especially relevant for buyers evaluating current-tenant stability and long-duration lease coverage.
Key Highlights
- Single‑tenant net leased property occupied by O’Reilly Auto Parts
- Tenant has a new 10‑year lease term
- Located along the Old Forest Road corridor
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
$140,036
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
7.99%
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%
$2,800,720
$2.8M
Cap Rate 7%
$2,000,514
$2.0M
Cap Rate 9%
$1,555,956
$1.6M
Market Conditions
NOI Build-Up for 11,541 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
$207.7K $18.00/SF
− Vacancy
−$7.7K −$0.67/SF
EGI
$200.1K $17.33/SF
− OpEx
−$60.0K −$5.20/SF
NOI
$140.0K $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 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%
$2,800,720
Cap Rate 7%
$2,000,514
Cap Rate 9%
$1,555,956
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.33M
NOI $140,036 @ 7.0% cap · market cap 7.99%
Second Best
Industrial
$832.7K
$728.6K – $971.5K
NOI $58,288 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,314 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Well-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
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Similar Off Market Nearby
- Kia of Lynchburg Service — 3400 Old Forest Rd, Lynchburg, VA 24501
- Laslie's II — 3402 Old Forest Rd, Lynchburg, VA 24501
- Jiffy Lube — 3209 Old Forest Rd, Lynchburg, VA 24501
- SKRRT TIRES & AUTO SERVICES — 3203 Old Forest Rd, Lynchburg, VA 24501
- Transmaster Tranmissions Llc — 3203 Old Forest Rd, Lynchburg, VA 24501
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant net lease with O’Reilly Auto Parts under a new 10-year term along Old Forest Road.
Where is this auto shop located?
The property is located at 3112 Old Forest Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $1,752,761.
What are key features of this property?
This property features: Single‑tenant net leased property occupied by O’Reilly Auto Parts; Tenant has a new 10‑year lease term; Located along the Old Forest Road corridor
