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3211 Old Forest Rd, Lynchburg, VA 24501
4,670 SF building in high-traffic area, ideal for business.
Property Size4,670 SF
Lot Size0.93 Acres
Price / SF$160.60
Days on Market727
Property Features for 3211 Old Forest Rd
General Information
Standard status
Active
Size
4,670 SF
Lot size
0.93 Acres
Property subtype
Office, Retail
Zoning
B-3
Building Details
Year Built
1970
Buildings
1
Stories
1
Units
1
Listing Agency:
Cushman & Wakefield Thalhimer - Lynchburg, Virginia
Listed By:
Norman Moon · License #VA 4001000797
(434) 455-2302
Source:
Crexi
Added: Oct 10, 2024
Changed: Sep 30
Last Checked: Oct 5 at 6:37PM
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 Cushman & Wakefield Thalhimer - Lynchburg, Virginia
Investment Insights
Based on property information with market context.
Located on Old Forest Road in Lynchburg, Virginia, this 4,670 SF building is zoned B-3 General Business, offering various possibilities for use. Previously utilized as a residential real estate office, the property benefits from high traffic and visibility. The surrounding area includes well-known tenants such as Walmart, McDonalds, Taco Bell, and Verizon. The property is situated on 0.932 acres. The estimated 2024 population within a 5-mile radius is over 92,000, with a median household income of $58,561.
Key Highlights
- High traffic and visibility on Old Forest Road.
- Zoned B‑3 General Business, suitable for various uses.
- Located in a thriving community with a large population (over 92,000 within a 5‑mile radius).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,665
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,300
$1.1M
Cap Rate 7%
$809,500
$809.5K
Cap Rate 9%
$629,611
$629.6K
Market Conditions
NOI Build-Up for 4,670 SF
Gross rent
$84.1K $18.00/SF
− Vacancy
−$3.1K −$0.67/SF
EGI
$80.9K $17.33/SF
− OpEx
−$24.3K −$5.20/SF
NOI
$56.7K $12.13/SF
Area
Lynchburg County, VA
Vacancy
3.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,300
Cap Rate 7%
$809,500
Cap Rate 9%
$629,611
Alternative Uses
Best Use
Office B
$1.01M
$882.6K – $1.18M
NOI $70,610 @ 7.0% cap · market cap 9.41%
Second Best
Retail
$809.5K
$708.3K – $944.4K
NOI $56,665 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,837 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 24501, VA
27,160
Population
12,157
Households
2.2
Avg Household Size
33
Median Age
25%
College-Educated
87%
High-School Grad
36.3 sq mi
ZIP Area
748
Density / Sq Mi
$45,305
Median Household Income
$28,790
Median Earnings
$936
Median Rent
$155,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 4,670 SF building in high-traffic area, ideal for business.
Where is this office units located?
The property is located at 3211 Old Forest Rd Lynchburg, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High traffic and visibility on Old Forest Road.; Zoned B‑3 General Business, suitable for various uses.; Located in a thriving community with a large population (over 92,000 within a 5‑mile radius).
