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    Property profile & analytics

    1008 Commerce St Lynchburg, VA 24504-1702

    • Retail space
    • 10,560 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimation
    $425,000
    Last Sale
    May 26, 2020
    Location Intelligence
    Property ID
    US87-1732961
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1008 Commerce St

    Year built
    1941
    Construction
    FRAME
    Lot size
    0.45 lot acres
    Property size
    10,560 SF
    Zone code
    B-6
    Property type
    Retail space
    APN
    045 16 007
    APU
    4516007

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.14
    Latitude
    37.4142
    CBSA code
    31340
    CBSA name
    LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $7,262
    $294,700
    $521,300
    $816,000
    -
    $294,700
    $521,300
    $816,000

    Comparable in this City

    • Value Estimation by Request
      1,092 SF

      520 5th St

      RETAIL STORES (PERSONAL SERVICES) • 1,092 SF
      520 5th St, Lynchburg, VA 24504-2426
      View Details
    • Value Estimation
      $265,000
      595 SF

      1101 Main St

      RETAIL STORES (PERSONAL SERVICES) • 595 SF
      1101 Main St, Lynchburg, VA 24504-1713
      View Details
    • Value Estimation
      $345,000
      5,804 SF

      1209 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 5,804 SF
      1209 Commerce St, Lynchburg, VA 24504-1801
      View Details
    • Value Estimation
      $205,000
      5,140 SF

      815 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,140 SF
      815 Main St, Lynchburg, VA 24504-1507
      View Details
    • Value Estimation
      $600,000
      24,908 SF

      1026 Main St

      RETAIL STORES (PERSONAL SERVICES) • 24,908 SF
      1026 Main St, Lynchburg, VA 24504-1712
      View Details
    • Value Estimation
      $275,000
      8,125 SF

      418 12th St

      RETAIL STORES (PERSONAL SERVICES) • 8,125 SF
      418 12th St, Lynchburg, VA 24504-2540
      View Details

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    Similar Nearby for Lease

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      Downtown Lynchburg Retail/Office Space

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      Turnkey Restaurant Opportunity in Lynchburg

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    • $16 SF/Yr
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      Downtown Lynchburg Office Space Available

      1,880 SF office suite in downtown Lynchburg for lease.
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      View Details
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    1008 Commerce St
    Lynchburg, VA 24504-1702
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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
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