1700 Elm St Lynchburg, VA 24504
- Commercial real estate
- 1,050 SF
- 0.51 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1700 Elm St
- Year built
- 1900
- Lot size
- 0.51 lot acres
- Property size
- 1,050 SF
- Property type
- Commercial real estate
Description
This 0.51-acre commercial property at 1700 Elm Street in Lynchburg, VA, presents a unique investment opportunity. The 1,050 square foot building is currently vacant but boasts a potential monthly rental income of $695, subject to a grandfather clause. Its strategic location offers excellent visibility, situated off the cloverleaf of Route 29 Northbound, adjacent to the Lynchburg Expressway and Main Street. Zoning is currently unclear, with conflicting information indicating both commercial and industrial designations. Further investigation into the precise zoning classification is recommended. The property borders a railroad line at its rear. This versatile lot offers significant potential for a variety of commercial uses, making it an attractive prospect for investors seeking a high-traffic location with established rental income potential or a redevelopment opportunity. The asking price is $79,990. Given the conflicting zoning information and the potential for rental income, due diligence is strongly advised before purchase. The property's location and size make it a compelling investment in a growing area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lynchburg
- County
- Lynchburg
- State
- Virginia
- Longitude
- -79.13481
- Latitude
- 37.40813
