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    601 Graves Mill Rd Lynchburg, VA 24502

    For Sale
    $299,000

    4.7 Acres, $299,000, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 4.7-acre development site at 601 Graves Mill Road in Lynchburg, Virginia (zip code 24502), presents a compelling investment opportunity. Boasting over 600 feet of frontage on Graves Mill Road, this property enjoys a highly visible location, easily accessible from the 501 Expressway via the Graves Mill Road exit. Its strategic position places it near a variety of established businesses, including Charlie's Restaurant, Pinkerton Chevrolet & Buick, Heritage Funeral Home, Liberty University Online, and Home Depot, as well as numerous medical offices. The property is zoned B-5C & R-C, offering flexibility for a wide range of commercial uses permitted under these designations. This versatile land parcel is ideal for developers seeking a prime location with significant road frontage and proximity to key amenities and a substantial customer base. The asking price is $299,000. The property is classified as Industrial, Land, and Retail, with a subtype of R&D and Development Site. This is a rare opportunity to acquire a well-situated property in a thriving Lynchburg commercial corridor. Serious inquiries are encouraged.

    Property Features for 601 Graves Mill Rd

    General Information

    Property type
    Life science properties
    Lot Size
    204,732 SF

    HighLights

    • 4.7‑acre development site in Lynchburg, VA (24502) at 601 Graves Mill Road.
    • Over 600 feet of frontage on Graves Mill Road, with easy access to the 501 Expressway.
    • Prime location near established businesses including restaurants, auto dealerships, and medical offices.
    • B‑5C & R‑C zoning allows for flexible commercial uses.
    • Asking price: $299,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Life science properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.213273000309
    Latitude
    37.375024874403

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    FAQs

    What type of property is this?
    Life science property - 4.7 Acres, $299,000, High Visibility
    Where is this life science property located?
    The property is located at 601 Graves Mill Rd Lynchburg, VA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: 4.7-acre development site in Lynchburg, VA (24502) at 601 Graves Mill Road.; Over 600 feet of frontage on Graves Mill Road, with easy access to the 501 Expressway.; Prime location near established businesses including restaurants, auto dealerships, and medical offices.
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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
    601 Graves Mill Rd Lynchburg, VA 24502
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