Mixed-Use Property with
New
For Sale
$799,900
821 Main Street, Lynchburg, VA 24504
Commercial/Indust, Lynchburg, VA
Property Size6,930 SF
Lot Size0.06 Acres
Price / SF$115.43
Days on Market2
Property Features for 821 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Downtown-Central Business Dist
Directions
5th street to Main Street Downtown Lynchburg, Across the street from the Bank of the James Building.
Standard status
Active
APN
02447009
Size
6,930 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
BLK 5
Legal Description
BLK 5
Building Details
Year built
1875
Listing Agency:
John Stewart Walker, Inc
(434) 385-6655
Listed By:
Kensie W Johnson · License #0225046787
(434) 941-9749
Added: Sep 18
Last Checked: Sep 19 at 8:06PM
MLS# 369331
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.
Built in 1875, this 6,930-square-foot mixed-use property combines ground-floor commercial space with three residential apartments on the upper levels. The commercial component encompasses more than 2,000 square feet and is available for a new occupant or use. Each apartment offers one bedroom and one bathroom, and all three are currently occupied by long-term tenants.
The property is located at 821 Main Street in Downtown Lynchburg, along a prominent commercial corridor. B-4 zoning supports a range of commercial and residential uses. Shopping, dining, entertainment, employers, and the James River are identified as nearby area amenities.
The property is located at 821 Main Street in Downtown Lynchburg, along a prominent commercial corridor. B-4 zoning supports a range of commercial and residential uses. Shopping, dining, entertainment, employers, and the James River are identified as nearby area amenities.
Key Highlights
- 6,930‑square‑foot mixed‑use property built in 1875
- More than 2,000 square feet of ground‑floor commercial space
- Three 1‑bedroom, 1‑bath apartments on upper levels
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
$55,016
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
6.88%
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%
$1,100,320
$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
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
$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 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%
$1,100,320
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Main Street commercial space is paired with three occupied residential apartments and B-4 zoning.
Where is this mixed-use property located?
The property is located at 821 Main Street 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: 6,930‑square‑foot mixed‑use property built in 1875; More than 2,000 square feet of ground‑floor commercial space; Three 1‑bedroom, 1‑bath apartments on upper levels
