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    1020 Main St Lynchburg, VA 24504

    For Sale
    $949,000

    Prime Lynchburg development parcels. Last remaining!

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional offering presents a rare opportunity to acquire two contiguous commercial land parcels located at 1020 & 1022 Main Street in Lynchburg, Virginia. These properties, encompassing APNs 02464010 and 02464014, represent the last available development sites on Main Street, providing unparalleled visibility and accessibility. The combined parcels are zoned B-4, allowing for a diverse range of commercial, retail, or mixed-use developments. Their strategic location places them in close proximity to a thriving mix of retail establishments, office buildings, and residential properties, ensuring high foot traffic and strong potential for success. The asking price for this significant development opportunity is $949,000. The properties' prime location in the heart of Lynchburg, coupled with the flexible B-4 zoning, makes this an ideal investment for developers seeking to capitalize on the city's vibrant commercial landscape. This is a unique chance to shape the future of Main Street Lynchburg. Don't miss this chance to secure these last remaining development parcels. The zip code is 24504.

    Property Features for 1020 Main St

    General Information

    Property type
    Land

    HighLights

    • $949,000 asking price.
    • Two commercial land parcels totaling 1020 & 1022 Main Street, Lynchburg, VA 24504.
    • B‑4 zoning allows for diverse commercial, retail, or mixed‑use development.
    • High visibility location near retail, office, and residential properties.
    • Last remaining development parcels on Main Street, Lynchburg.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.141057474185
    Latitude
    37.413485995036

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    FAQs

    What type of property is this?
    Land - Prime Lynchburg development parcels. Last remaining!
    Where is this land located?
    The property is located at 1020 Main St Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $949,000.
    What are key features of this property?
    This property features: $949,000 asking price.; Two commercial land parcels totaling 1020 & 1022 Main Street, Lynchburg, VA 24504.; B-4 zoning allows for diverse commercial, retail, or mixed-use development.
    Request Owner's contact information
    1020 Main St Lynchburg, VA 24504
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    Lynchburg, VA 24504
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1020 Main St Lynchburg, VA 24504
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