Listing Agency: Cushman & Wakefield | Thalhimer - Lynchburg Show Phone

Listed By: George Lupton, III Show Phone

Source: Moodyscre

Added: Aug 2, 2023 Changed: Aug 17 Last Checked: Aug 22 at 6:34AM

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Investment Insights

Based on property information with market context.

This 26-acre property features 1,000 feet of road frontage along US Route 29 South. The property includes a 2,763-square-foot freestanding restaurant facility with a fully functioning kitchen and ample parking, as well as roadside pylon signage. Additionally, there is an 8,000-square-foot multi-family facility containing 8 units, and a 1,100-square-foot residential rental house. The annual gross income from the multi-family units and rental home is $49,200, with 100% occupancy. The portion of the property fronting US Route 29 South is zoned B-GC for commercial use, while the back half is zoned R-SF, allowing for the redevelopment of up to 64 single-family homes. The commercially zoned parcel is accessible from US Route 29 South, and the residentially zoned parcel is accessible from Route 24. County water is available along both US Route 29 South and Route 24. The property is located 3 miles south of the Lynchburg Regional Airport.

Key Highlights

• Significant income potential: $49,200 annual gross income.
• High redevelopment potential: Zoned for up to 64 single‑family homes.
• Prime commercial location on US Route 29 South.

Property Analytics

Property Profile

Current Use

Commercial land

Suggested Use

Top Pick Building Supply Auto Repair Shop Storage Facility (Bike/Boat/Book/etc) Store Carpet & Flooring Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

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Frequently Asked Questions

What type of property is this?

Commercial land - 26 acres with existing income and redevelopment potential.

Where is this commercial land located?

The property is located at 8570 Wards Rd Rustburg, VA.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Significant income potential: $49,200 annual gross income.; High redevelopment potential: Zoned for up to 64 single‑family homes.; Prime commercial location on US Route 29 South.