Mixed-Use Property with
For Sale
$1,290,000
663 Old Plantation Road, Lynchburg, VA 24502
Commercial/Indust, Lynchburg, VA
Property Size5,695 SF
Lot Size12.92 Acres
Price / SF$226.51
Days on Market47
Property Features for 663 Old Plantation Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Lynchburg, 460 West to right on Old Plantation Dr.
Subdivision
Campbell
Standard status
Active
APN
20-A-61A
Size
5,695 SF
Lot size
12.92 Acres
Taxes and HOA fees
Tax Description
NR New London
Legal Description
NR New London
Amenities
pond
shop
enclosed shed
Building Details
Year built
1989
Listing Agency:
John Stewart Walker, Inc
(434) 385-6655
Listed By:
Stephen G Mock
(434) 222-8145
Added: Jul 30
Changed: Aug 19
Last Checked: Sep 14 at 6:06PM
MLS# 368298
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Business-General Commercial property at 663 Old Plantation Road includes 12.92 acres, a 3,400-square-foot shop/warehouse/garage, and a 2,295-square-foot home. The commercial building has 3 large overhead doors and an enclosed rear shed that provides additional storage or equipment space outside the stated shop area. The home contains 3 bedrooms and 1.5 baths on the main level, approximately 500 finished square feet and a full bath in the basement, plus more than 900 square feet of unfinished basement area. The home’s heat pump and panel were installed 5 years ago.
The property has frontage on Old Plantation Drive and Route 460, with a reported daily traffic count of over 20,000. Old Plantation Drive provides access to Route 460 and Timberlake Road. The site is in Campbell County near Lynchburg Regional Airport, Liberty University, Wards Road/Hwy 29, Forest, Evington, and Bedford.
The property has frontage on Old Plantation Drive and Route 460, with a reported daily traffic count of over 20,000. Old Plantation Drive provides access to Route 460 and Timberlake Road. The site is in Campbell County near Lynchburg Regional Airport, Liberty University, Wards Road/Hwy 29, Forest, Evington, and Bedford.
Key Highlights
- 12.92‑acre tract zoned Business‑General Commercial
- 3,400 Sq Ft shop/warehouse/garage with 3 large overhead doors
- 2,295 Sq Ft home with 3 bedrooms and 1.5 baths on the main level
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
$43,225
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
3.35%
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%
$864,500
$864.5K
Cap Rate 7%
$617,500
$617.5K
Cap Rate 9%
$480,278
$480.3K
Market Conditions
NOI Build-Up for 5,695 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
$75.2K $13.20/SF
− Vacancy
−$6.0K −$1.06/SF
EGI
$69.2K $12.14/SF
− OpEx
−$25.9K −$4.55/SF
NOI
$43.2K $7.59/SF
Area
Lynchburg County, VA
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$864,500
Cap Rate 7%
$617,500
Cap Rate 9%
$480,278
Alternative Uses
Best Use
Mixed Use
$617.5K
$540.3K – $720.4K
NOI $43,225 @ 7.0% cap · market cap 3.35%
Second Best
Warehouse
$498.9K
$436.6K – $582.1K
NOI $34,926 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,092 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
20,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial tract combines a shop, residential improvements, pond, and frontage along two roads.
Where is this mixed-use property located?
The property is located at 663 Old Plantation Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 12.92‑acre tract zoned Business‑General Commercial; 3,400 Sq Ft shop/warehouse/garage with 3 large overhead doors; 2,295 Sq Ft home with 3 bedrooms and 1.5 baths on the main level
