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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1606 Main St Lynchburg, VA 24504-1913

    • Retail space
    • 16,648 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    $425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1516170
    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

    • Whetzels Complete Auto Service / Auto Repair Shop

    Property Details for 1606 Main St

    Year built
    1945
    Lot size
    0.47 lot acres
    Property size
    16,648 SF
    Zone code
    B5
    Property type
    Retail space
    APN
    046 14 001
    APU
    4614001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $493,000
      Market price range: $494k - $1.24M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lynchburg
    County
    Lynchburg City
    State
    Virginia
    Longitude
    -79.136
    Latitude
    37.4085
    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
    $3,053
    $94,800
    $248,200
    $343,000
    -
    $94,800
    $248,200
    $343,000

    Comparable in this City

    • Value Estimation
      $220,000
      1,092 SF

      520 5th St

      RETAIL STORES (PERSONAL SERVICES) • 1,092 SF
      520 5th St, Lynchburg, VA 24504-2426
      View Details
    • Value Estimation
      $260,000
      595 SF

      1101 Main St

      RETAIL STORES (PERSONAL SERVICES) • 595 SF
      1101 Main St, Lynchburg, VA 24504-1713
      View Details
    • Value Estimation
      $335,000
      10,560 SF

      1008 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 10,560 SF
      1008 Commerce St, Lynchburg, VA 24504-1702
      View Details
    • Value Estimation
      $355,000
      5,804 SF

      1209 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 5,804 SF
      1209 Commerce St, Lynchburg, VA 24504-1801
      View Details
    • Value Estimation
      $335,000
      5,140 SF

      815 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,140 SF
      815 Main St, Lynchburg, VA 24504-1507
      View Details
    • Value Estimation
      $655,000
      24,908 SF

      1026 Main St

      RETAIL STORES (PERSONAL SERVICES) • 24,908 SF
      1026 Main St, Lynchburg, VA 24504-1712
      View Details

    Similar Nearby for Sale

    • $749,500
      23,363 SF

      Main Street Commercial Buildings For Sale

      Four commercial buildings totaling 23,363 SF on Main Street.
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    • $695,000
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      Retail or Office Space Available

      Retail space with unlimited potential in Lynchburg, Virginia.
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    • $369,000
      0.09 Acres

      Rivermont Historic District Commercial Storefront

      Commercial storefront in Lynchburg's Rivermont historic district with ample office space.
      1214 Rivermont Ave, Lynchburg, VA 24504
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    • $1,300,000
      0.15 Acres

      Downtown Commercial Building For Sale

      Prominent commercial building in downtown Lynchburg with redevelopment potential.
      1026 Main St, Lynchburg, VA 24504
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    • $2,900,000
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      Historic Tobacco Warehouse Opportunity

      Spacious warehouse in downtown Lynchburg with development potential.
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    • Contact for pricing
      14,000 SF

      Lynchburg Retail Space - 14,000 SF

      High-visibility retail space, divisible, ample parking.
      400 5Th St, Lynchburg, VA 24504
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,000 SF

      Downtown Lynchburg Retail/Office Space

      Highly visible corner location in Downtown Lynchburg.
      925 Main St, Lynchburg, VA 24504
      View Details
    • $699,000
      8,144 SF

      Retail Building in Opportunity Zone

      8,144 SF retail building adaptable for various uses.
      408 Federal St, Lynchburg, VA 24504
      View Details
    • $950 /Mo
      571 SF

      Mixed-Use Building in Downtown Lynchburg

      Downtown Lynchburg mixed-use property with apartments, office, and retail.
      725 Church St, Lynchburg, VA 24504
      View Details
    • $20 SF/Yr
      5,899 SF

      Turnkey Restaurant Opportunity in Lynchburg

      5,899 SF restaurant space with panoramic views available for rent.
      828 Main St, Lynchburg, VA 24504
      View Details
    • $23 SF/Yr
      81,000 SF

      Main Street Office Space Available

      Flexible office space with ample parking and fiber optics.
      700-760 Main St, Lynchburg, VA 24504
      View Details
    • $16 SF/Yr
      1,880 SF

      Downtown Lynchburg Office Space Available

      1,880 SF office suite in downtown Lynchburg for lease.
      1312-1328 Jefferson St, Lynchburg, VA 24504
      View Details
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    1606 Main St
    Lynchburg, VA 24504-1913
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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