Mixed-Use Building with Retail
For Sale
$799,900
821 Main St, Lynchburg, VA 24504
Three occupied one-bedroom apartments sit above an available commercial unit in downtown Lynchburg.
Property Size6,930 SF
Price / SF$115.43
Days on Market19
Property Features for 821 Main St
General Information
Standard status
Active
Size
6,930 SF
Property subtype
Residential Income
Zoning
B-4
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
John Stewart Walker, Inc
(434) 385-6655
Listed By:
Kensie W. Johnson · License #0225046787
(434) 941-9749
Source:
Exprealty
Added: Sep 18
Changed: Oct 6
Last Checked: Oct 5 at 10:44PM
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 John Stewart Walker, Inc
Investment Insights
Based on property information with market context.
This Main Street property combines ground-floor commercial space with three residential apartments on the upper levels. The commercial area spans more than 2,000 square feet and is available for occupancy. Each apartment has one bedroom and one bathroom, and all three are occupied by long-term tenants.
The building is in downtown Lynchburg, near shopping, dining, entertainment, employers, and the James River. B-4 zoning applies to the property.
The building is in downtown Lynchburg, near shopping, dining, entertainment, employers, and the James River. B-4 zoning applies to the property.
Key Highlights
- More than 2,000 square feet of ground‑floor commercial space
- Three occupied apartments, each with 1 bedroom and 1 bathroom
- B‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,016
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,320
$1.1M
Cap Rate 7%
$785,943
$785.9K
Cap Rate 9%
$611,289
$611.3K
Market Conditions
NOI Build-Up for 6,930 SF
Gross rent
$112.3K $16.20/SF
− Vacancy
−$12.2K −$1.77/SF
EGI
$100.0K $14.43/SF
− OpEx
−$45.0K −$6.50/SF
NOI
$55.0K $7.94/SF
Area
Lynchburg County, VA
Vacancy
10.90%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,320
Cap Rate 7%
$785,943
Cap Rate 9%
$611,289
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,087 @ 7.0% cap · market cap 10.51%
Second Best
Apartment 5plus
$785.9K
$687.7K – $916.9K
NOI $55,016 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,700 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 24504, VA
9,585
Population
5,206
Households
1.8
Avg Household Size
37
Median Age
24%
College-Educated
88%
High-School Grad
37.5 sq mi
ZIP Area
256
Density / Sq Mi
$50,739
Median Household Income
$34,265
Median Earnings
$998
Median Rent
$183,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three occupied one-bedroom apartments sit above an available commercial unit in downtown Lynchburg.
Where is this mixed-use property located?
The property is located at 821 Main St Lynchburg, VA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: More than 2,000 square feet of ground‑floor commercial space; Three occupied apartments, each with 1 bedroom and 1 bathroom; B‑4 zoning
